Networth as of 15th July
The car issue is finally settled. I am never ever going back to Pandan Gardens for servicing. Horrendous service. The advisor went MIA, then MC on the 2nd day but didnt do any handover. I need to cut back on my social gatherings. It's really very tiring. I cant catch up! I think I am more of an introvert though I behave like an extrovert with people around. Everytime I agreed to a meet up, i almost immediately regret it, but when I am there, I can talk non stop. Weirdo me.
Anyway, besides tracking my monthly expenses, ive decided to track my networth as well. I realised i have never ever done a post on that but it is very common in other personal financial blogs. Hopefully I have the diligence to continue to track it in the future so that I can see the trend of my networth. I love trends and patterns. In anycase, I dont even know if i should call my blog a personal financial blog. I dont really have much advice to share unlike other blogs. *Ashamed of myself*
I read a blog that is based in the USA and the owner was using this networth tool by a company call personal capital. It looks really powerful but too bad it's only for people based in USA. Does anyone of you have any to recommend? Most importantly, it must be free. Haha! If it can show fancy graphs and charts, it's even better!
In the end, i decided to use this calculator from the government. So, the definition of networth is defined by them, not me. So here we go!
To me, the number looks pretty decent. However, 31% of it is not liquid. Aka, CPF, House, Other Assets, but cheng hu said include, so I include loh.
Liabilities
I don't have any home loan, car loan, education loan or etc. We dont have any loans at all which is very liberating. If I really have to put something in there, ill put perhaps 4000 SGD of expenses per month. The thing is, if I include this expense, shouldn't I include my dividends as well?
Financial products
All my shares and stuff. The main thing I talked about most of the time in the blog.
CPF
OA, SA, MA.
House
Our flat that is fully paid. I based it on the average selling price of the units in my block for the last 3 months that i found on HDB web. 50/50 with wife.
Other asset
Our car that is fully paid. I based it on the resale price I see on Sgcarmart.
Since i am not working now, growth of networth is mostly dependent on the stock market performance. Let's see whats the number like in a months time.
If you have any networth tracking tool to recommend, pls do! Much appreciated! If you have any question for me, feel free to ask as well!
Hi, it's me...your stalker again...I don't really care about my networth (but I guess I do care since I am into this topic with you and I roughly know my numbers) because it's too troublesome to input and update, beside I mostly combined my asset with wify so it's a little hard to divide or put it into absolute figure for some item, like property, cash etc. But I do use a simple networth tool in Stocks.cafe which give me a rough indicator, but as I said I seldom update it probably once or twice so far and this kind of thing is garbage in garbage out, it's only useful if you always update and maintain :p
ReplyDeletehahaha, I am happy to be positively influencing you to go with something that you really want subconsciously. I am curious about your profile and what's stopping you from pulling the trigger?
ReplyDeleteWell...where to start....Why am I so keen on your articles? Because I probably see you as my younger self...I just turned 50 this year but worked my socks off the whole life...along the way I saved and invested rigorously with stocks worth more than 7 figures now and enjoying payout of around 6% pa...CPF also max out the minimum sum liao....my hesitation to walk out from work now is firstly it's very hard to give up the monthly 5 figures salary...I may not get back the same number if I switch but this is something I had been planning for....using my stocks div to supplimenting my income should I slowed down or changed field....next..I have 2 private properties which is only 50% paid up...in theory we could trade these for a fully paid HDB but that is something we planned not until I reach 55 5 yrs later.....also I had a secondary school going kid....we still need to support her all the way until tirtiary if she could make it.....but I am very fortunate that wify is also working full time and she earned even more than me....so I litterally can walk out of my job tomorrow without financial headache......most likely scenario is I will take a break for a few months and then find something else which is less stressful to get my self occupied for the next 5 years....just that knowing this is a decision that cannot be undone...I am still in the stage of thinking twice...thinking trice now....I guess I probably just waiting for an excuse, a catalyst event so that I won't feel guilty or regret when I look back next time :p
DeleteHi thanks for sharing.
DeleteFirst of all, i would like to say that I reckon you are more ready than me to stop working, financially wise. Anyway, even though i believe in the concept of FIRE, i will not say everyone should take that as an end game. Some people love their job that brings in the dough, but not sacrificing family time, so that's like the holy grail of work life balance. If i am in that position, i wouldnt be where i am now. Although i had a 5 figure monthly salary, my job requires me to travel very often and i was always on edge due to my job nature. It runs 24/7.
My gut feeling tells me if you dropped your job now, i am still pretty sure you can support your child all the way to tertiary. Moreover your wife's salary is more than you. However, this is with the caveat that i am not sure how much mortgage you have left with the 2 privates, although you did say that you can trade that for a fully paid HDB. My wife salary is half of what i had. Alot of people said I was crazy but we chose what had to be done in order to have a better family life. My catalyst was my family.
Having said that, if you are fine with the work, ok with your colleagues and boss , no impact to your family life and mental health, then there's really no rush to quit isnt it? You can actually start looking for a lower paying job, hopefully less stress as well and then make the transition.
Allow me to share this with you. In fact, i think i will make a post about it as well. Even though it is very common sense, i feel that it is very meaningful. As we live our own life, we tend to forget what is important to us and the reason of working hard. I was at a stage where by my jar was full of sand and pebbles.
https://intential.medium.com/what-a-mayonnaise-jar-and-two-beers-can-teach-you-about-life-and-business-43b7b8d6cb82
It's me...just to update that I have handed in my letter today. I spend almost 3 weeks reconsidering...at the end I have to listened to my heart as this is what I wanted to do for a long time :p
DeleteNow I am officially in ROD mode...out of sudden...I am no longer concerned with anything happening around me as it will be none of my business soon....news spread out quick also and I already have a few farewell lunch invitation :lol:
Haha, good job! I dont know you and I dont even know your name but i can actually feel your happiness and I am also happy for you that you finally took the step forward and chose to lead the life you want. I am sure you will not regret your decision. The feeling after you handed over the resignation letter is priceless. How did the wife react to it though?
DeleteWify first word to me was "don't try this stunt again, heard of 狼来了的故事?" I face palm, actually over the years I attempted resign many times but everytime kena pursuaded....but I told her this time no U turn....HR confirmed my last day of service liao :p
DeleteGood that she is supportive but it's not your last day until you finally complete your notice period, anytime from now till your last day, you are still able to rescind your resignation letter, but i dont think you will. Anyway, enjoy the notice period. That is the best time. No responsibilities but still being paid.
DeleteMoneysense URL is down :(
ReplyDeleteHaha! Maybe the site is not used to people visiting. suddenly there is a "small" surge. No, just kidding.
Delete