Mid-year review: Goal met of $200k cash at 28. $400k+ net worth and Astrea bond V

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Half a year gone.

I still have not gotten my keys to my new home and am still childless. Ok, TMI.

On financial front, I've been seeing a steady increase in my net worth. As at my last update in end 2018, my net worth was at $372k.

Half a year later, I've successfully crossed $200k cash savings (previously it dropped as I topped up my MA) and exceeded $400k in networth. I may be able to hit $450k by end year but will just need to carve out some money for renovation and home stuff.

Most gains came from employment. While I lament how sick I am of work, it is my main source of $. I've not added any stocks and can never not live off my portfolio for passive income. It is with salary crediting that I've received 1.85-2% interest on my DBS multiplier anyway.

I've been thinking if I'm making my money work hard enough. I occasionally browse the SGX hoping to see some stocks to purchase, but am not comfortable enough to make the move.

Since Jan till date, my transactions …

4 lottery winners who lost it all

I like the caption below:

With the Powerball jackpot soaring to $415 million, it’s important to remember that money doesn’t solve life’s problems. In fact, many people’s lives took a turn for the worse, and they managed to lose all the money. 


What would I do if I strike the lottery?


1. Keep quiet


This might be hard to do considering that I like to share my joy. But, I'd like to keep my mouth shut and not share this news to anyone - not even my partner and family. I can already imagine what my dad would say and think - he'd expect me to fork everything. He'll probably share this with the external family who wouldn't let me off easily. More family politics will ensue.

As for my partner, he'd probably still treat me the same, but I can't trust his mouth. If he'll to share this news with his family, I'll be labelled as niao if I dont pay for stuffs. Tongues will wag, and I can't take these.

Keep quiet for my own sanity.


2. Continue with my life, as per normal


Winners tend to splurge with their sudden windfall. I've read many stories of people spending like no tomorrow as if they own the riches in the world. Of course, most end up as paupers within a short span of time.

I'd still go to work. But honestly, this riches would make me more reckless. I will probably be more fearless at work, since I can afford to "fire" my employer. Oops, at least I know myself well.


3. Budget my winnings


Depending on my life stage, I'll apportion the winnings. It could be to pay off the mortgage, distribute more allowances to my family monthly, being less calculative when I travel overseas, parking sums into higher interest deposits and going for a thorough health check-up as my mentality now is "don't check if there's nothing wrong".

Also, contribute a portion to finance the medical bills of kids with illnesses.

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Just typing these so I can refer to this should I strike it rich. One can dream right? ;)

Comments

  1. OMG... u share almost the same style as me =x

    My 4th point will be to invest in blue chip for dividend so that I can have early retirement...

    ReplyDelete
  2. My goodness. With $415m invested in govt bonds at 2% coupon, that would be $8.3m a year. Who needs to invest in stocks then? $8.3m is a lot of $$$.

    ReplyDelete

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