By February 2025, my financial standing remains steady, with a net worth of approximately S$1.82 million. This stability is supported by contributions to the CPF, dividends, and salary savings.
Breakdown of Net Worth:
Safe Havens (63%)
CPF (36%): The CPF serves as the core of my retirement strategy. Just at the start of the year, on January 1st, 2025, I received over $20,000 in interest credits. Previously, I’ve detailed the eight significant updates to the CPF rules.
Cash Reserves (17%): My accessible funds are wisely placed in fixed deposits and Fullerton cash funds, which yield about 3% per annum. This financial cushion not only grants me peace of mind but also ensures I’m ready for unplanned expenses or potential investment ventures.
Bonds (10%): To maintain stability, I’ve curated a portfolio comprising low-risk Singapore Savings Bonds and the Astrea Bond. Notably, I fully utilized my SSB maximum limit of $200k back in August 2024, right before the interest rates took a dip.
Retirement Savings (15%)
SRS (11%): The Supplementary Retirement Scheme (SRS) offers a layer of retirement savings that also provides tax benefits. My intention is to start maximizing contributions up to the annual individual cap.
