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Can I say that job income is most important to start saving and allocating to different investments? The reason your networth is about $2 million at 39 is due to your above average job income.
But how does this net worth make u financially free? If someone has a fully paid condo worth 2mil that he and his family lives in, and no other assets, his net worth is 2mil, but is he financially free?
Happy birthday and great job with the accumulation. Btw should we include residential home as part of the net worth since it’s not immediately available for use ?
Great video and thanks for your transparency. When calculating net worth do you keep track of how much is contribution from inheritance. Wonder what that looks like in your case.
Cool, several hours ago, i just commented on your first networth video in 2021, asking if you would do one in 2023. My estimate of your networth today was closer to $2mil. So i was quite right. What is your target networth at 50 yrs old?
By compounding it will become a much bigger number. The kicker comes if I grow the business well in the next few years. Its my key focus now not the projected net worth
Happy Birthday Josh! thanks for insights. do you feel financially free yet? i get a feeling that it is still not enough to have a choice to stop working - but isn't it strange? 1.7m is really a lot of value already.
Josh!!~You are only ok only at age of 39 with S$1.72 million networth but your cash is too little!! When I was your age I left Singapore in 1988 after 10 years work in UPPER THOMSON, my cash networth was US$542,000.00 (S$1,083,500.00) in CASH!! Another 2 properties in HK & China!! CASH is KING & it is my ready money in the year 2000!!! I think you are still better than most Singaporean Young Men in Singapore Today!! SAVING more important!! I am now very old but still holding a lot of CASH!!
@@joshconsultancy Very True!! My Cash is becoming the financial foundation for my own enterprise!! I try to emulate Singapore's FAR EAST CONSORTIUM of Mr. Ng Teng Feng!! My cash are in business!! I will return to Singapore in future to grow a family office in Singapore too!! I LOVE SINGAPORE!!!!
Happy Birthday. I'm quite surprised you only have 20k as emergency fund? I thought the general rule of thumb is to have at least 6 x monthly salary as money for the rainy day?
Congrats as well. Just a few thoughts: 1) i don't think SA as well along with Medisave should be considered as wealth unless you're close to 65. 2) You seem to be splitting to too many individual stocks and specifics such that it seems like shooting all around and not focused. Why not follow that fee only based financial provider and just focus all / mostly on the low-cost world MSCI index ETF?
Thank you. SA can be consumed when FRS is filled or if touch wood dire medical condition Investing broad base has its merits. Not shooting around. I believe I'm well versed in stock investing and is an art I also teach. Cya around and hope it answers well
Cpf is your money. You can always pledge your property if you want to extract more SA out at 55. Cpf is a way to prevent oneself from making stupid decisions
Yeah, of course, it is your money cause u will get a payout eventually at 65. So perhaps 55 or 65, then include it. At 39, it seems a bit too early, same for SRS as well ( even though u technically can take it out, you have to pay a penalty and all the taxes owed). You can only touch some of the returns at 62. If you exclude these portions, including house and OA, the current returns will not generate the $6k that he wants for FIRE now especially where most of his investments are still fluctuating like Etherium & China growth which will not give you cash dividend consistently.
@@joshconsultancy yeah "shooting all around" seems a wrong phrase. As per comment above because like SRS & Cpf & other more volatile items like Etherium, you will not consistently get $6k of income flow every month now (maybe 55,62 or 65 yes) but again FIRE is not something you are looking for as well.
@@bkoh1771 I'm only 35 and I also include it in my balance sheet (reached 7 figures in net worth including cpf with FRS & BHS late last year or early this year); I'm a non-condo pro CPF SA MA route guy. It's great for long term planning and legacy distributions. I don't think he is talking about FIRE in this video.
@@joshconsultancy I benefited from the covid 19 and Ukraine war effect on stock market , if you can do a video on what you think will happen on the yield curve goes up the horizontal line as I see that recessions always occur thereafter. Will be good to hear your view on this.
Hi we cannot be sure there is a crash. Unless your portfolio is very skewed to 1 stock, there may be no need to hedge. When "hedge" you give up potential upside. THere is also a question when to "unhedge" Simplify, check your cash balances and if its health, be ready to ride the down and up
Relax on it, some periods are down some are up. Some see this down period as buying opportunity also. Unlike what advertisements like to harp on immediate results, in real investing there may not be immediate results... Money is already made in the buying and not by mr market showing better price next week 👌 Hope it answers well
Hi, as of now with high interest, endowment plans have less of an appeal for guaranteed returns. I don’t know your full context but $500/m may be quite a big policy to commit to. I’ve a video on SsB bond ladder, check it out as an alternative too k 👌🏻
Hi josh. Beside all these investment plans. Do u have any insurance plans bought for your family members and yourself? Maybe i missed out your earlier post on your utube.
Oh yes certainly. Annuity plan only provides income stream. Some tips in this tutorial Check - REVEALING MY INSURANCE PORTFOLIO | WHICH INSURANCE PLAN TO GET IN SINGAPORE! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Ixm8JHdbRM8.htmlsi=QebKE4JzteZIn5b4
Dogs? Investing is about understanding what you own, buying them at a reasonable price and as what buffett said, dont mind stock market closes for 5y. In recent years, its been about growth in US vs dividend in singapore and the discussion unfortunately becomes a showdown of gains
Nice honest break down! Happy Birthday Josh! Was wondering, I only started investing in stocks after dabbling into it during the covid period and have currently roughly $20k invested in both HK and US exchanges. I have a small war chest ready to buy in "soon" as I feel markets are dipping close to the bottom. Would you include watches and possibly gold jewerly as part of an "investment" and could it be included into a person's networth? I've been buying watches for the last 10yrs and have accumulated a box of them, hence should I value my watches base on current market value or the amount i paid for them when I purchased them? Thanks
Thank you for the well wishes. By right they have resale value they should count. Value them at cost maybe?. In accounting, its always putting a lower value
Happy Birthday Josh! Did you top up beyond the maximum tax relief for SRS annually? The amount of $260k seems quite high (17 years x $15.3k) though the bulk of it could possibly be from market returns.
That’s one downside on SRS is that when we withdraw, we need to pay tax on 50% of the withdrawal. So the more we profit from SRS , the more we need to pay govt 😢
I paid ABSD in 2017. This sharing done some years back has some details k ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-T0f_bjlLB-c.htmlsi=xK3CVcphxDvxz6e0
Do you think holding index funds and never touching it until retirement is a good investment strategy for average Singaporeans? Is dumping everything into some S&P 500 index funds valid, or should we diversify and hold global index funds? Also there's the whole US dividend withdrawing tax thing, so some people buy Irish-domiciled ETFs instead to track the index. What do you recommend?
Happy Birthday! Just wondering, why did you choose Syfe Custom instead of using Syfe trade? Since Syfe Custom you will need to pay for the Syfe management fees and ETF expense ratio, where as if you use Syfe trade the cost will be lower
There is a rough formula which is 25x annual expenses. In my case $6000/m x12 x 25 = $1.5m for financial freedom for investment assets to last Take with pinch of salt k. Ive some videos explaining on it
