I am happy to share my net worth for June 2024! It has reached S$1.643 million, another record high thanks to contributions to my CPF, salary savings and some dividend collections.
Asset Breakdown:
Safe Heavens (62%)
CPF (37%): Huge shoutout to my CPF for making a significant portion of my wealth. Attaining Full Retirement Sum FRS in 2022 was a great accomplishment.
Cash and war chest (15%): My cash is strategically placed in fixed deposits and Fullerton cash funds earning over 3% p.a.
Bonds (10%): A mix Singapore Savings Bonds and Astrea bond provides stability. I am planning to add to this with the upcoming Jul 24 SSB with average yield of 3.3%.
Retirement Savings (8%)
SRS: I have already maxed out the $15.3k contribution limit for 2024, adding another layer to my retirement savings plan.
Income and Growth Assets (32%)
Stocks and Reits (24%): This portion of my portfolio caters for generation of passive cashflows
Hi ! if i like earning around 3K plus at age 45, how i can accumulate as much as you or its just impossible ? if there any advice you can give or its too late for me.
Work on 3 things:
1. Increase income from main job, earn side hustles from side gigs
2. Reduce expenses and save up more
3. Invest in safe assets i.e. savings bonds that yield >3% and then quality stocks or reits with higher risk as your risk appetite grows.
Rinse and repeat. Make use of compounding effect.