Net Worth 2020: A Quick Estimate

Around this time last year, I did a quick estimate of my net worth just for fun and curiosity sake. Although it didn't paint a 100% accurate picture of my wealth (or the lack of it), it is still fairly accurate.

So this year I am going to do a quick assessment again. I have actually wanted to do it several days back but I didn't have time to log in to write this post until now.

I might do this on an annual basis since I find it quite motivating to me at least.

Again, this is a back-of-the-envelope calculation.

All figures are based on point of writing (14 July 2020 5.20 pm).

Insurance Cash Value: $105k

Investments: $131k

CPF: $178k
Singlife: $10k

Cash 1: $15k

Cash 2: $140k

Property Value (50%): $250k

Watch: $8k

Housing Loan (50%): ($25k)

Car Loan: ($52k)
CC Bill: ($1k)

Net Worth: $759k

I have excluded the car related values such as PARF and COE rebate.

I bought my watch at $8k+ about 9 years back. Current price for the same watch is around $11k. I have used the purchased price for my net worth calculations.

I guess I am not doing too badly. At least the figure is higher than last year and I'm glad it's not in negative territory.

Still can't retire yet. Work hard JASS. Work hard.

Highest Fixed Deposit Rate in Singapore for June 2020

So I was checking on the various fixed deposit (FD) rates being offered locally since mum called me this morning to discuss about transferring some of her funds to a FD.

Just sharing below since sharing is caring : )

Note that all rates are from the respective institution's website as of 8th June 2020, 6 pm thereabout.

For comparison sake, this month's Singapore Savings Bond (SSB) offers a paltry 0.3% interest for the first year.

 
For younger generations age 65 and below, I feel one of the best options for a risk-free deposit now is the 2.5% P.A. interest rate currently offered by Singlife.

It's simple to set up and apply. Best of all it comes with some insurance coverage since it is technically an insurance company.

Top up and withdrawal can be done anytime too.

Downside is that the 2.5% P.A. interest rate is only applicable to the first $10,000.