Saturday, May 18, 2024

Net Worth Update May 2024 | New Record High


My net worth rises to S$1.635m after CPF contributions, savings from salary and collection of dividends in May 2024.

My CPF makes up 37% of my wealth. Full retirement sum (FRS) is achieved in 2022.

Cash and war chest form 15% of my net worth. My cash is stashed away in bank fixed deposits and Fullerton cash funds under custody of Moomoo and Tiger Broker yielding more than 3% p.a.

Bonds consist of low-risk Singapore Savings Bonds ($150k) and Astrea 7A PE bond ($9k) contributing to 10% of my wealth. I intend to subscribe $10k of the June 24 SSB tranche with average yield of 3.33%.

CPF, cash and war chest, and bonds amount to 62% of my net worth as relatively safe heavens. 

SRS account accounts for just 8% of my wealth. I have already completed the $15.3k contribution limit for 2024. 

Currently, 24% of my net worth is in stocks and Reits. This, combined with the local holdings in SRS, brings my exposure to riskier assets up to 32%.

Tracking net worth is not about the numbers. It is about seeing where our past financial decisions lead us to. This update is a reminder that progress on this financial journey, however big or small, is worth celebrating. It fuels the fire and motivation to keep grinding towards the financial freedom goal. 

After watching AK's latest video, I got a stark reminder that Cashflow is the real King. It is important to upkeep our positive cashflows by boosting our income sources while reducing expenses from cash outlays. The journey continues and I am excited to see what the future holds. Stay tuned!

Thank you for reading.

With love & peace,


mysecretinvestment said...

Hi Qiongster

Congratulations & well done. 👏👏

You are on the right path. Keep it up!

In time you will reach the next wealth level.

See here for the different wealth levels :

Qiongster said...

Thanks for the encouragement, mysecretinvestment.