Networth November 2013

I had a slip and fall recently, which resulted in a visit to the nearest hospital A&E. Four stitches, a tetanus shot, and a hundred bucks later, I have learnt my most valuable lesson ever – reading while I am walking is not a good idea.

Also, the best way to appreciate various parts of your body is to take them out of commission for a while. I have always taken my left hand for granted, until now when I have problem using it. It has only occurred to me just how many actions require both hands. Sigh.

Luckily, the stars don’t seem to be as out of alignment in my financial life, because I am happy to report that I am worth about $792,000 at this very moment. That’s approximate increase of $7,500 over last month’s numbers and the immediate impact of getting regular paychecks again.

If I end December with just a modest increase of $3K, I would have clocked a total increase of $150K networth for this year, not including any paper capital gains from the condo. And really, my investment gains outside of the condo is really quite abysmal. That $150K increase came mainly from just plain savings – CPF, cash savings, whole-life insurance premium payments and mortgage principle paydown. It just goes to show how powerful a high savings rate can be when you first start out.

For a year where I worked only ¾ of the time, this is pretty phenomenal, and just a tad…scary. I didn’t have a single month this year where my networth didn’t increase, even when I was not working and getting paid. It feels almost too good to be true, and I am wondering if I somehow made a pact with the devil in my dreams or something, because how can I be so lucky? And while I can analyse the numbers and get some logical explanation, at times, I still feel like I didn’t do anything to deserve all this. I keep expecting something bad to happen every time I turn the corner.

Sigh…the life of a born worrier. I wonder if I will end up worrying myself into a self-fulfilling prophecy.

In other news, another neighbour at the condo development with an identical unit to mine sold his unit at $1.85 million, which is quite a bit lower than I expected. Since I don’t live there, I am not privy to the grapevine, and thus have no idea whether he sold so low because he was in urgent need of money or the market is lower than I expected. Anyway, I am adjusting my expectations of my condo valuation a little due to this sale.

I have also completed next year’s budgeting exercise. The biggest uncertainty so far is the condo lease renewal next May. I do have the advantage of a high initial rent, so I do have room for a substantial discount to keep my tenant, but the development is rather old and I haven’t really spent money in updating the unit, so I am keeping my fingers crossed that my tenant will want to continue his stay.

And so, that’s about it for now. More to come soon.

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