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Achieving $300k cash before the clock hits 30

When I first started blogging (cue the first blog post), I set myself a goal to save $100k by 28.
$100k cash, excluding CPF.
I achieved this at 25.

I even thought my $100k would drop downwards after paying for flat, reno, kids. But who would have known that my chance to get a flat would only happen at 27, and my savings grew and grew?

$200k at 28
At 28, I hit $200k cash savings. It took me 3 years to grow another $100k. 
If not for the fact that I've been topping up $14k annually to mum and my CPF RA/SA, spendings on wedding, house related stuff and frequent holidays, I would have much more cash on hand. But, that can't be real, that's not living - those money have to be spent.

If not for the fact that I've pumped $80k over the past 7 years into stocks, of which the paper value is now only at $60k+, I'd been $80k "richer". The converse could be said if I've great investment capabilities to grow $80k to $100k 🙃

Anyway...
As I edge closer to 30 ⏰, I've ano…

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

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 include:
  • SSB Jan 2019 bond at 2.2% for $10k
  • CIMB FD 1.7% for 6 months for $15k. Better than leaving it there for 1% interest
  • Etiqa 2.02% endowment for $5k which I shared here and here.
  • Top up $7k cash in early Jun to my SA account for tax relief. Did the same for my hub too.
  • My latest transaction was today - to ballot Astrea bond V with $10,000. Applied $20,000 on behalf of my hubby as well since he doesn't do anything with his money except leaving it in CIMB. My previous Astrea IV is doing pretty well. As of today, it is trading at $1.068 but I'll prob leave it till maturity. 
Nothing exciting so far but I'm contended with this simple life.

Comments

  1. Stumbled upon your blog. This is rather impressive, great work!

    Just to point out that although Astrea IV is a fund of PE funds, those are bonds (more like lehman minibonds but still "bonds"), just like your SSB (I assume as I don't remember seeing a SGS issue for Jan), perhaps would be good to put them under Investments instead of Stocks?

    ReplyDelete
    Replies
    1. Thanks for your sharing! Have amended it to SSB.

      Ah, I parked SSB as FDs in my pie chart and Astrea Bonds under stocks. Will consider revising :)

      Delete
    2. Welcome :) Yea probably just Investments as bonds are bonds, not stocks/equity.

      Delete
  2. Looks like your goal for a flat by 28 will take a big bite out of your cash flow.

    ReplyDelete
    Replies
    1. Yes! Oh well, good thing is I'm pretty ready for it haha

      Delete
  3. Wow, your salary must be pretty high to achieve such a buffer ! Nevertheless, your portfolio inspires me to save more haha :)

    ReplyDelete
    Replies
    1. Hi Wei Jie, sorry for missing out your comment. I started off with a $3k fresh grad salary like most people; I'm sure the younger chaps are starting off with much higher starting salaries already. I'm a huge saver, not an investor, so I'm sure many can achieve better :)

      Delete

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