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Tracking of Net Worth - When, What, How, Why, Who?
When did you start tracking your net worth?
What are the components when you look at net worth, i.e cash, investments, CPF?
How do you do it, on paper or on the cloud somewhere?
Why do you do it, does it help you get to your goals?
Who do you do it with, does your spouse get involved?
Personally, I started tracking when I got my first job and it helped laid the foundations of hitting my desired financial goals. I also included CPF OA and SA into my net worth calculations as I do regular top ups, additionally it is 20% of our gross income going into CPF monthly + OA and SA are technically usable by retirement age.
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I sort of just used POSB One Financial as it pulls in from various platforms. But some are not in there.
Properties are manual input and because the mortgage was in there, it helps because it is quite real time.
As it is just networth, just a number. Separately, I track cash flow using Excel and I do modelling on it to see where I want to go and where I want to reach. Also see when is a time I can stop working.
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Nice thanks
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I handle it on my own and send a monthly summary snapshot tiny fishing to my friend too.
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When - 7 years ago and the format been revising over the years, now version 8.
What - I ...
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When - Since 2023 (25yrs at that time)
What - Bank Accounts, Cards, Low-Risk Investments (Tbills), Mid-risk investments (Digital Banks Savings Accounts), High-risk Investments (Stocks, Crypto, ETFs), CPF
How - For bank accounts and credit cards, I use dobin. for others, I manually input on Excel
Why - Visualise my portfolio growth, make changes where required
Who - Myself