REVEALING MY NET WORTH NOW at age 39 | Financially Free In Singapore...

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Today I'd be sharing with you my net worth at age 39 to hopefully inspire you on your financial freedom journey. Within it, you'd see some choices I've made that have helped me in this journey.
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Chapter summaries
0:00 Introduction
0:40 CPF
2:10 Home
4:00 Ohmyhome
5:03 SRS
5:52 SG stocks
6:51 SSB
7:31 Trading accounts
8:09 Cash balance
9:08 War chest cash
10:01 Syfe portfolios
11:05 Crypto assets
12:45 Annuity plan
#investing #dividend #networth
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.
*******
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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[@joshconsultancy]

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[@quekkengseng]

Hi Josh whats your referral code for this?

[@wwesheamus100]

Amazing video! Happy Birthday Josh and thank you for being honest and transparent with your viewers 🫡

[@joshconsultancy]

🙏🙏 I hope to lead by example

[@DemiZhuang]

Insightful sharing. Thank you! Happy birthday Josh!!

[@joshconsultancy]

Hey Demi, thank you for the well wishes 🙏

[@cbllynn]

Happy belated birthday to you , Josh! You are doing great and your videos have been helpful, be it reminder or new knowledge.

[@joshconsultancy]

Thank you for the well wishes and the high praise =)

[@iexan]

Happy birthday Josh🎉 Thanks for the sharing and insights given!

[@joshconsultancy]

You are welcome. Thank you for the well wishes

[@hydrodog]

What an achievement. Well done. 👍 Appreciate the sharing and transparency. 1.7 million views for this one.

[@joshconsultancy]

🙏 Thank you for the high praise. Hope to lead by example

[@jacklim5973]

Happy Birthday Bro. HUAT AH....all the way

[@joshconsultancy]

Huat ah! wishing you the best also

[@HoneyMoneySG]

Happy Birthday Josh and hope you enjoyed your stay in Malaysia!

[@joshconsultancy]

Yes! Short trip also for the kids la. You in KL now or back?

[@etchvee]

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.

[@joshconsultancy]

My parents are still around. Yes it should still add to anyone's net worth. Happy CNY =)

[@chefscircle6133]

very inspiring, well done Josh.

[@joshconsultancy]

Thank you 🙏

[@JS-ev4xc]

You are considered as a millionaire, at such a young age. Congats, stay prudent and enjoy. c",)

[@joshconsultancy]

Thank you thank you. I hope to teach and be an example

[@limmike5339]

Humble 👍🏻

[@limy0018]

Great job. You have a diversified portfolio. Impressive.

[@joshconsultancy]

Thank you for the high praise 🙏

[@jasonhehe]

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.

[@joshconsultancy]

Financially free now? I would think maybe or v close. Not a key focus at this stage though. I hope to build something bigger that I can be proud of =)

[@kaiseng8394]

congrats Josh. that's inspiring at your age.👍

[@joshconsultancy]

Thank you. Yes I hope to lead by example

[@paperclips51]

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 ?

[@joshconsultancy]

Thank you for the well wishes. The net value after loan should be as it gets passed on if one passes away

[@theloyalistspeaks]

Glad you are not spoiling your sons and teaching them the right values and work ethic.

[@joshconsultancy]

Yes! It’s v important to me

[@clw2813]

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.

[@joshconsultancy]

Thank you 🙏 From market returns investing into Singapore stocks

[@robertquilindo8853]

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 😢

[@Twodaae]

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

[@joshconsultancy]

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

[@KoshilanKoshTV]

Thank you for the transparent sharing. Question: why you take $6K * 25 ?

[@wenlinkwek7943]

hi josh, are you ble to comment on the dogs of sti dividend investing strategy? is it a good approach?

[@joshconsultancy]

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

[@yipkf18]

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.

[@joshconsultancy]

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! kzbin.info/www/bejne/f6nQaX1-mceFg5osi=QebKE4JzteZIn5b4

[@espangasor]

Happy Birthday!

[@joshconsultancy]

🙏🙏 Thank you

[@choonbingpng8768]

J Tan, commendable

[@average_kante162]

hi josh, thanks for the content. which cold wallet are you using?

[@joshconsultancy]

Hi, I got the most basic one. Ledger Nano S Plus. shop.ledger.com/?r=628be765001a

[@shawnang280]

Happy belated birthday and wish you all the best 🎉

[@joshconsultancy]

Thank you Shawn 🙏

[@celjj]

Happy Birthday 🎉

[@joshconsultancy]

🙏😀

[@EZJRVCXY]

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

[@joshconsultancy]

Thank you for the well wishes =) You've a point. I've automated the purchase previously with syfe custom

[@jironghuang4895]

Looking healthy. Congrats.

[@joshconsultancy]

Good health good wealth! Huat ah! =)

[@silverchairsg]

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?

[@joshconsultancy]

Dumping all into S&P500 seems to stem from over optimism from recent performance. Back in 2000-2007 it didnt seem so.

[@silverchairsg]

@@joshconsultancy What about holding like 40+ years, for a very very long horizon?

[@weeminglim5374]

U are very transparent…

[@joshconsultancy]

I teach openly and hopefully lets make money less of a taboo subject

[@ezrapan7809]

Hi Josh , Not too understand how Annunity Plan works and why need to do redemption now . Please to enlighten . Thanks

[@joshconsultancy]

Hi, redemption of loan if there is. Not selling policy. Hope it clarifies

[@anfield0109]

Happy birthday bro 💪

[@joshconsultancy]

Thank you =)

[@sufiansupari]

Happy birthday Josh🎂

[@joshconsultancy]

Thank you for the well wishes =)

[@mtmt1274]

Hi Josh, i would like to know what are your hedging strategies in case of a market crash (similar to 2008)

[@joshconsultancy]

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

[@kevinho4504]

You are in a good financial position. 🎉

[@joshconsultancy]

I need to be if I want to advice on finances :)

[@kevinho4504]

@@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.

[@bkoh1771]

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?

[@joshconsultancy]

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

[@jironghuang4895]

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

[@bkoh1771]

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.

[@bkoh1771]

@@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.

[@jironghuang4895]

@@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.

[@sherreenfoo5760]

Wow very great achievement at this age!!! Are you still working full time ?

[@joshconsultancy]

Thank you for the praise. Wealth is for family. That’s been my focus 🙂

[@DonYang73]

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?

[@joshconsultancy]

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

[@mariatachi8398]

Happy birthday to you Josh

[@joshconsultancy]

Thank you for the well wishes =)

[@ahwaiii]

Hi Josh! May I ask, would you recommend me putting aside $500/month into an endowment plan instead? Maybe premium term of 10 years.

[@joshconsultancy]

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 👌🏻

[@NOpopplaying]

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.

[@joshconsultancy]

Building up income is definitely needed

[@jalanjalan7099]

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?

[@joshconsultancy]

Wife side has no worries. I see it as a family emergency cash

[@chilly2171]

any thoughts on your REITs investments? Seems like they're doing very poorly.

[@joshconsultancy]

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

[@chilly2171]

@@joshconsultancy Okay thanks, hard to remain calm when I keep seeing it drop

[@zhenxiong5389]

Wow. Millionaire

[@makwoon3635]

Josh, you can buy and keep some gold. All that glitters excites me.😂

[@joshconsultancy]

Ah I prefer Bitcoin as the new age gold

[@balibuba]

why don't you stake your eth bro, please don't use the centralize but instead run your own validator

[@joshconsultancy]

In cold wallet. Not sure about own validator

[@sleepyman6598]

Hi, how do you own a private property and a HDB at the same time ?

[@joshconsultancy]

I paid ABSD in 2017. This sharing done some years back has some details k kzbin.info/www/bejne/imHJkJWgobF1Y8Usi=xK3CVcphxDvxz6e0

[@xinfull2]

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?

[@joshconsultancy]

True. Home is not an asset. Hence I’ve always advocated prudence

[@hydrodog]

Mind sharing what SRS brokerage u use?

[@joshconsultancy]

I use LimTan where I worked as an intern 16years ago 😅

[@klavier3112]

Hi Josh, just wondering why you dont consider UOB One which can give you ard 5% for 100k? Though it is abt the same as REITs but this is more liquid.

[@joshconsultancy]

Its interest income which will in long term lose to inflation. Reits regardless of price trend presents real estate assets to you to build wealth k

[@klavier3112]

@@joshconsultancy thanks for your response. That makes sense

[@tomkevlee]

noticed your SRS statement Total Cost is $286K but valuation at time of screenshot is 257K which means a paper loss of almost 30K 😱

[@joshconsultancy]

Yes its exposure to REITs naturally the value has decreased. Total capital is lower. There were gains in previous years no worries

[@noby9693]

I think i have 800k or slightly above alittle of net worth at 33 😅

[@joshconsultancy]

Only competition is against your 30yo self. Only goal is satisfaction 👌

[@LeakyBucketsg]

Any investment to any private equity?

[@joshconsultancy]

Dont have and not on horizon also

[@3xonly]

Jio leh next time come kl hahaha

[@joshconsultancy]

You live there?

[@3xonly]

Yeaaa, thanks to your sharing on sgx stocks so I can diversify from bursa down south 😎

[@byebyefiat]

does wifey have separate investment portfolio?

[@joshconsultancy]

Yes she has

[@michaelgohmox]

Come KL Bojio bro

[@joshconsultancy]

Haha, you reside in KL?

[@cryptot8531]

You need to 20x your networth by 45 years old.....

[@joshconsultancy]

Avoid get rich quicks

[@weeminglim5374]

Don understand what u mean $6000 x 25 time = $150,000 (what does this value means ??)

[@joshconsultancy]

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

[@roflolmaomg]

​@@joshconsultancyshould be 1.8m?

[@joshconsultancy]

@@roflolmaomgoops you are right

[@doggiebaby5646]

Hi Josh, why multiply by 25? Do you assume you have 25 years of retirement life?

[@jamesk6673]

You look & sound older than 39 😅

[@joshconsultancy]

😅

[@weiyongl]

i made some bad choices. same age as u only 990k. 300k annual income pretax. 😢. excluding my spouse.

[@joshconsultancy]

Wealth is for your future self and family. There will be people with more, there will be people with less. As long as there is progress be happy k