It has been a yearly ritual since 2012 that I will tabulate my "Balance Sheet" just before my birthday.
Looking back, this has been an important exercise which allows me to track my progress.
It is a simple exercise to assess my current and non-current asset.
I define my current asset has all assets that are reasonably expected to be converted into cash within a month. My current assets include cash in the bank and equities. For simplicity sake, anything from a long-term perspective, it will be placed in my non-current assets. This includes my insurance (value till date), CPF Ordinary & Special Account (similar to America's 401K), and Supplementary Retirement Scheme (SRS) Account.
The progress from 2014 to 2015 was largely on my non-current assets. This was due to the constant contribution to my CPF Account, yearly SRS contribution, and growing intrinsic value from my insurance policies.
Can't wait to see the progress in 2016. I will need to grow my current asset at a faster rate.
I am Half-A-Millionaire.
Hi PI Trooper,
ReplyDeleteCongrats on being half a millionaire! I see that our investment style is quite similar.
Soldier on!
Cheers,
Farmer.
Thanks Farmer. I am still a long way from my goal. I will continue to read your blog and get the inspiration to soldier on!
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