Here comes the snapshot of our Total Net-Worth for Jan 2024.
Net-Worth increase from last month: +76K SGD, +1KG Gold
The increase was mainly due to the appreciation of our flat, CPF annual interests, one-time income and appreciation of our investment currency against SGD.
My stock performed badly this month because I am still heavy in China.
Here comes the snapshot of our Total Net-Worth for Dec 2023.
Net-Worth increase from last month: +32K SGD, -0.19KG Gold
Despite the rally, my portfolio recovered just a little, because I have pretty heavy position in Tencent, which was hammered badly by China’s new gaming regulation right before Christmas.
Further losses from my wife's portfolio was also counted in this update. Her portfolio is mainly Chinese stocks. So not surprisingly, another year of pretty significant loss.
Gold prices increased a lot in the past month. And that wiped out our net-worth increment measured by Gold.
I started posting our Monthly Net-Worth Update from Nov 2019. It has been 4 years and I am glad to report that I have not missed one update and I will continue posting.
Over the past 4 years, our journey to accumulate Net-Worth has been bumpy, to say the least.
Hugely unfortunate event
Unemployment due to offer retraction at the beginning of Covid
Not getting paid for my freelancer work for almost a year
Had to “Chicken out” and accept pay-cut due to financial challenges after one year of earning nothing
Significant loss on my flat
Huge loss in stock market
Painful transition back to Consulting
…
Financial impact? Easily more than our Net-Worth now, which is as high as it has ever been!
In all these struggles, books and a few good blogs have been really good companions for me.
Inspired by them, my mindset has evolved too. And some of that evolvement is demonstrated here by the two major updates I am going to introduce in this entry.
With the major update in tracking practice, the numbers this month will not be comparable with previous months, but almost surely I will blow my 40/40 target this year.
Therefore, I have upgraded it to 80/40.
This is another mindset change from my good companions:
Story was complicated, but I did not have to pay that “debt”.
Legally, there was no obligation whatsoever
Morally, I lost ~100K SGD (4x the debt) because I did not get paid for the work I delivered during Covid, for which my “Creditor” was partially responsible
Logically, it was not really “debt” because I never received the money promised to me
Expectation wise, I was sure that my “Creditor“ did not expect me to pay him back
Cleared FAMI, IVR, PRSO, ROOT, VANI. Pumped 26K into it and got 1K back.
Huge losses. But compared to some of my other counters, this is peanut. Compared to some other stupid things I have done, the total loss in stock market is peanut. Putting things in perspective helps sometimes.
Painful exit. But I figure now is as good a time as any. If anything, I should exited much earlier. Or I should have never bought them.
