REVEALING MY NET WORTH | 💥How to get to financial freedom | ONLY 37 YEARS OLD
ฝัง
- เผยแพร่เมื่อ 17 มิ.ย. 2024
- Today I'm going to use myself as a case study and share with you my net worth right now. Towards the end, I've two learning points and hopefully it is a good template and inspires you in your journey towards financial freedom.
0:00 Introduction
Why assets are needed today
1:24 CPF holdings contribution to net worth
2:04 SRS holdings contribution to net worth
2:52 Stocks contribution to net worth
3:49 Custodian accounts in TIGER and MOOMOO
5:09 Portfolios contribution to net worth
5:50 Cash contribution to net worth
Currently cash holdings are less than 10% of net worth
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7:00 Cryptocurrencies contribution to net worth
7:47 Syfe portfolios contribution to net worth
9:08 Leverage annuity plans contribution to net worth
$80k is loaned
Video tutorial LEVERAGE ANNUITY • Leveraged Annuity Plan...
9:52 Properties
I own a HDB and a condo
11:28 Term equity loan "WHY DID I BORROW $150,000? Explaining Good Debt VS Bad Debt"
Video tutorial: • WHY DID I BORROW $150,...
12:09 Two key learning points from asset list
#financialfreedom #networth
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We do not make any recommendations on whether a security is a buy/sell as every investor has different investment goals and risk profiles. The presentation of ideas from Josh Tan and TheAstuteParent are strictly for education purposes. You are advised to perform independent research yourself or seek a qualified financial adviser. We will not be liable for any losses directly or indirectly from the material. Some of the referral links in the video summary are products and services personally used by Josh Tan and they may pay an affiliate commission or referral bonus.
It is not an endorsement of the product unless explicitly stated and we will not be liable for any losses. The content in this video and any promotions mentioned is accurate as of the posting date.
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About Josh Tan:
Josh holds a degree in Accounting from NTU. In 2016, he co-founded the financial education website TheAstuteParent to provide detailed insurance plan analysis and financial planning tips.
As a ChFC Charterholder, Josh has agreed to be bounded by the ChFC®/S Code of Ethics. This includes, among others, acting in a professional manner when it comes to conducting due diligence on primary and secondary sources of investment-related data, and articulating his investment opinions based on his research and beliefs. Based on his research and analysis, he highlighted his beliefs and opinions, and illustrated the concept of time value of money, as of the time of the video.
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Love the structured and transparent sharing! Eye-opening pointers!
Thanks for sharing. Pretty impressive and comprehensive portfolio.
Amazing. I can only tell myself if only Im so knowledgeable of financial matters at your age.
Great work! Honest, slow and steady bro. Before 40 so rich Liao.
Thanks for the insightful videos. I've been following you for the past few months and have greatly benefitted from the information that you share. I did up a spreadsheet as you demonstrated to calculate my net worth, a small step in the right direction!
Congrats on taking small steps. Whatever goal you put there, keep it just as a target. The BIG picture is your happiness and sufficiency in retirement =)
Subscribing to you first! So much "essence" to digest and is not enough by just one watch!
Welcome in Alan
Thanks for sharing Josh, found this insightful. Videos like these always helps us get a better sensing of what we can achieve in our late 30s
No probs, all the best for your journey =)
I don’t think this is insightful? we have no idea how he built such a net worth? What income he brings in annually to build his portfolio?
Thanks Josh, very informative. What will help more is if you can compare this vs last yrs value by the 10 items to see which assets hv grown more in value.
Think that’s likely equity related since it did well in 2021?
Very strong portfolio. I hope to achieve one like your too.
Thanks Josh for sharing this 👍🏻 I'm wondering whether you can create a video to share on "How To Get from current status to FI" with sample paths/portfolios/timelines. More like roadmaps with proper expectations. I believe it'll be helpful to determine ones current position against their master plan.
That is hard.... haha.... let me see if I can simply a storyline out. Stay tuned =)
thats amazing thanks for sharing Josh
good video, it will draw attention as we like to kaypoh how much money others have. BTW I'm impressed by you Josh!
Thanks. But how much thats the end result, the journey is more important to hear, agree? =)
At your age, you are managing very well than most.
Thanks Josh ! hope to see you talk about allianz income and growth fund soon (:
Likely done as one of the funds in a summary of monthly income funds, need some time :p
big like and a new subscriber! 😀🤘🏼
Welcome in Lisa :)
nice video, i gave u a like already
Thanks kwokweng!
Not too bad at 38 yrs old, continue to keep your feet on the ground.
Thanks for sharing, Josh. For couples, would it be better to count the combined net worth? And then divide by 2?
I would think so especially property and other joint assets
Damm I am impressed. Idol. Hope to reach similar portfolio soon 😊
Lets do our best =)
Congratulations… it’s really inspiring to see such a sizeable net worth at 38. Can you share with me the bond funds which you have invested in?
Hi Chris, for low risk bond funds they would be the same ones for cpfsa shielding - this prev video th-cam.com/video/oas4nYBxbTA/w-d-xo.html
Josh. I have benefited a lot from your video… I would like to meet you.
I believe some of the assets might have been in USD by default (e.g., TIGR). If so, did u convert them to SGD before totaling to get the final figure? Thanks for sharing 👍
The total value converted to SGD. No probs. Main sharing is the thought process and actual action of building wealth. Smash the SUBS and cya around
very impressive diversified portfolio
Hi Josh, thanks for sharing. Just curious when do you plan to retire? What is your magic number?
No probs Marcus. ive no plans to retire but at some point ive to ask if I should slow down and spend more time with family. My advisory work + youtube is effectively 2 full time jobs. TH-cam has to take a back seat then =)
Josh, you are great with your money!! Millionaire at 37!!
Thank you for the high praise
Thanks Josh for sharing. I am curious how you can transfer OA to SA ?
Upcoming video will address it 👌🏻
Is there a cap?
HI josh, excluding your property, you almost increased your net worth by 50% since you last shared earlier this year. That is amazing. How did you do it?
Hi shem, the srs value was at contribution amount of about $150k only then only. It was too conservative then. Property value was also at book value
Hey Josh, thanks for the detailed updates as usual. Your SRS portfolio is $250k+. I just started contributing year 1 and it only makes sense for $15.3k per year. Do you keep to this contribution limit and hence, started say 10-15 years ago? Or otherwise?
Yes 11y ago actually. Check this tutorial th-cam.com/video/INnURuCkTHI/w-d-xo.html
Thanks for this Josh. May I ask you about the difference in fees between using Syfe Select to customize a portfolio of all ETFs vs using Interactive Brokers to buy into these ETFs individually? Assuming i'm DCA-ing into the portfolio every week/month. From your previous video, i know that there's a 0.65% fee for Syfe on top of the fees for the individual ETFs. Thanks!
Hi Dennis, 0.65-% is for the smallest amount tier and there are no brokerage cost vs interactive brokers w the ongoing fee
@@joshconsultancy IBKR no longer charges any ongoing fee.
Hey josh, as an FA, how much do you charge for your financial consultations btw?
Thanks for sharing! It's indeed admirable to have such a net worth at age of 37! I'm currently 31 this year and I want to look into getting a HDB and a condo in the future (my hdb is estimated to be completed in 2023) - any ideas how I can get started towards the goal? thanks!
Think the first milestone is to be able to pay off your hdb first. Save hard and invest 👌🏻
@@joshconsultancy hehe thank you!! I'm gonna slave away XD
@@joshconsultancy saving alone won’t make you rich. you need to increase your income
Thanks for your video. A question on your SRS which is about 280K now, and is likely to hit 1mio or more at age 62 (assume 5% cagr). With 1mio, your SRS withdrawals are going to attract tax. Could you please share why you choose to maintain such amount in your SRS?
Hi Des, taxed save now is significant. Ive documented in Here's Why I'd Get To $1m In SRS 👏! Get Tax Relief And Aim For It Too! th-cam.com/video/INnURuCkTHI/w-d-xo.html
Very informative, thanks. looks like im still too far from this. even though i almost nearing your age.
i have been DCAing every few months to stocks itself. But has been rather clueless to how to deploy my CPF OA and SA for investment. my CPF is just sitting there and paying for my HDB Mortgage only. Possible to provide some insight how to invest in CPF.
Investing cpf has risk. This video previously shared should have some points, do check th-cam.com/video/i8U3gfrYhC8/w-d-xo.html
Wow that's a very high networth! Perhaps can do a video on where most of your returns come from.
Returns wise guess it will be equity markets? I haven been too lucky with properties yet
@@joshconsultancy perhaps like show much is from equities, how much for interest, how much is from earned income/hustles, etc
Josh, that’s is a huge accomplishment that’s you shared. I am nowhere close to where you are at 37. By the way belated birthday greeting and with many prosperous years ahead!
Thanks for the birthday wishes. Focus is on having enough to FI
Thanks Josh for being so transparent about your net worth as well as sharing your financial knowledge :) I'm a NTU fresh graduate who recently just started working and would like to seek your advice on which kind of financial asset should I start with first ? May I know which SRS did you invest in as I'm kinda of interested in starting this scheme as well :)
Hi Chris, srs can buy SG stocks or unit trust funds. For starting your investment journey check this k th-cam.com/video/N7EDO8IADr8/w-d-xo.html
@@joshconsultancy Thank you for your prompt reply , really appreciate it ! :) May I know which ban k did you open your SRS account with ?
@@chris_tanbk7227 Uob. But they are all similar
Hi Josh, usually after people have paid for their housing loan then they transferred all their money from OA to SA? The purpose is to secure a higher interest of 4 %? How can the transfer be done? Online? Thanks
thru cpf app
Currently interest rate is very low hence it is attractive to get leverage annuity plan. Considering annuity plan is long term commitment, should the interest rate increase in coming years, what is your strategy to overcome it?
Redeem loan
Hi Josh, by portfolio do you mean by fixed income ? Is it bond funds or corporate bonds or deposits?
Funds. Bond funds and balanced funds
The key as you hv rightly mentioned is the cash amount relative to your overall networth. Just looking at absolute amount alone doesnt tell the full picture.
Yes correct. Like we see warren buffetts warchest cash. The % is the one that tells the story more
Great sharing. Thanks. I would like to point out that property networth should discount the property you currently live on or not rented out (vacant) because they do not generate income. Also, property loans and equity term loans are at the mercy of interest rates set by the bank's unless you are using HDB loans. Got to watch for this as they will bleed your returns when the rates rise in future.
net worth should include traditionally. But ya can subsegement for total investible assets for financial freedom planning
For me personally, an asset that is not generating an income and has a debt tied to it is a liability. In fact, I would actually not classify CPF OA and SA as networth as they cannot be used freely before the retirement age. You know, we are just trying to kid ourselves just to make us feel good on the "networth" factor.
Hi, just wonder does the dividend gain from shares purchased using SRS will be accounted for the annual contribution for SRS?
Goes back to SRS
🤔 so tats mean example: dividend gain in 2021is part of SRS annual contribution for the FY21, right?
@@banglong9193 dividend is not Contribution
@@joshconsultancy , thanks for enlightening. 😁 then I need to contribute the Max sum for this year.
There are 2 kinds of people in this world:
1. Those who see other people doing well, and want to learn how to be like them.
2. Those who see other people doing well, and want to pull them down.
Be careful of type 2 people (complain kings; sour grapes; social idealist etc) who think they can become better off if the successful people like you were poorer.
Cheers! 😁
Love this comment Winston. It is true and I do feel affected by the occasional type 2 person remarks. sometimes it’s distracting.
hi bro, with today absd, is it still worth it to pay absd to own a second property if I don't want give up my hdb?
Very hard to justify ABSD makes sense imo...
Hehe like music before each point :)
Noted! maybe i should bring that edit style back haha
Keep up the good work and me n my wife will keep faithfully tune in to ur channel bro
I got 1 stock, 1 property, maxed out SA CPF
Total net worth (as of 11 Dec, age 37 also): $2.23M.
Prefer to keep things simple :)
Why 1 stock? Or rather what are your plans after a while on it?
Hi Josh, I prefer to think like ALY, keep things simple and consolidate the money in less places while continuing to amass wealth. Great job though with your videos though!
Inspiring! I'm around your age and it's quite paiseh to say that I'm rather far from what you have.
We all start off at different grounds. Do the best you can. Work hard k =)
Hi Josh, which bank did you use for your equity home loan?
Wanted to confirm that this is the calculation.
( Property value * 75%) - outstanding bank loan - CPF used.
@@yensoontan229 yes. Ask mortgage bankers safest
What happen to what we invested if the brokerage firm (custodian acct) go bankrupt?
All brokerages in my opinion, clients money are separated from companies and should be intact
@@joshconsultancy Thank you
With due respect do you suffer any losses at all in the stocks market?
Of course. Everyone has losses including warren buffet. The key is to minimize them and have winners way bigger
How much net worth do you feel comfortable enough to retire (per person)?
There isn’t a target number. Rule of thumb is 25x annual expenses?
When your passive income exceeds your expenditure, then can consider financially free and start thinking of retirement. There is no fixed amount for retirement. Big spenders will find it hard to retire, whereas a frugal spender will have a higher chance of hitting financial freedom if he invests his surplus religiously.
Power
Very impressive. How do u accumulate to this stage
Focus on the process, more important than the result. Process includes building income, prudence and patience in investing (in nut shell) :)
Thanks Josh. Will learn from you. Very informative.
how much is your salary? now & in the past
Erm... I would say salary is important to building wealth. Work at it. But be at peace with it also. I also know of some with much more. Learn the approach towards getting assets k khai
@@joshconsultancy agree, but I think giving an idea about your income let's say until you reached one million will give a good feedback to starters & show what's possible
How to be your private client?
Check TheAstuteParent.com/Josh-tan
i am just curious is your income 6k ?
This sharing should have some info How I Built 14 Income Streams To Make More Than $200,000 Per Year! th-cam.com/video/2u9H7JqEpdc/w-d-xo.html
is loan considered a liab
yes certainly. Less it away from net worth
Why did not add in hdb worth
Added. Property value is the total of both less outstanding loan
Kind of strange that you are able to segregate to a personal net worth within a family unit. Income and expenses are usually interrelated within the family. I am never able be so clear cut unless of course both husband and wife manages finances individually. That being said isn't it a waste of time resource since the other party can usually value add in some other way to the family unit.
As a Concept only. Most items imagined as 1/2?
Usd or sgd sir
Sgd
Do what’s the secret???
No secret formula. Long process of saving, earning and investing.
Means u r 39 this year?
yes =)
$178.20
curious whats that?
@@joshconsultancy my networth 😜
Huat
I’m new here. But how did you even amass that much at 37?
Build income, build investments, be prudent. Be patient
Omggggg ure 37???? Sorry but u look older. Maybe it's the stress haha but thanks for the vid!
Haha, haiz :p
He looks fine. Being an astute parent is hard work.
He does look 45 lol
your hdb???
Ya there
Whats your networth now Josh?
Need not compare, wish me the best =)
@@joshconsultancynot comparing lah. 😂😂 i am much older and millions ahead. Just want to know how you have improved over a year
You are only 37, you have alot of time to accumulate your wealth.
True. Thats why "Why I Made My BIGGEST Donation To Date 😳" th-cam.com/video/Nzi-o3YwLPk/w-d-xo.html
Yes bro. The more you give, the more you accumulate good karma.
Singapore dividend are not tax free. They are already taxed
Ya, Tax free on personal level i mean.
I thought you are 47yrs old sial…
lol
Need to borrow some money for Alibaba. Bro paylah me thx
New vid on China tech coming soon
i feel so poor right now .... time to work harder
Work hard and be prudent. Jia you
Wow! Your net worth will be 8 figures before you retire by 55 yrs old.
Things may slow in income in future? It may be but not crucial =)