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 …

Thoughts on HDB housing loan and 4th year topping up CPF SA

Each day passing is one step towards old age.

Unknowingly, we are in mid 2019.

Top-up to CPF SA

Anyway, with my bonuses in, I decided to park $7k into my CPF SA for tax relief purposes.

I've always been saying that I should do the $7k voluntary top-up at start of the year to gain extra interest, but have never done so hahaha

Got my hubby to do the same as well...not without some nagging and me taking control of the transfer πŸ€¦‍♀️

Hubby wasn't super keen as he preferred to keep the cash to pay off our housing loan ASAP.

His thoughts on our housing loan

  • For context, our balance to pay is at $500k+ πŸ™ƒWe are paying equal amounts for the home.
  • Wipe out our CPF, leaving $20k in OA
  • Pay $100k cash upfront (or even more if we can afford) - he feels our investments does not beat 2.6% interest charged by HDB for loan. This is true given majority of our money in savings accounts, SSBs, FDs which gives at best 2% interest?
  • For the remaining amount, to get a 25 years loan
  • Try to pay our loan with full cash each month and not touch our CPF 😲
  • Pay off housing loan ASAP using bonuses to reduce loan πŸ’Έ
And finally, to sell off our HDB after 5 years for profit which I object since I want to stay in there forever πŸ˜›That's another topic for next time!

What are your thoughts to this? For those who has been there done that, how did you pay off your loan?

Comments

  1. Hey thanks for this amazing post. Would love to read more of such blogs. You can also have a look at housing loan for more information.

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