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12d ago

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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?

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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 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.

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What - I segregated the asset class into 3 categories, (1) Retirement Fund (CPF, SRS and investment using both, insurance for retirement (the premium paid to date); (2) Liquid Assets (Stocks and ETF, the figures copied from the platforms like Endowus, Poems, etc.); (3) Cash (Cash at bank, SG Saving Bond and T Bills). I do not include the unit I am staying because it doesn't generate income.

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How - Excel, with different sheets e.g. (a) Summary, comparing CM to PM, and last December. Also comparison to previous years demonstrated the growth over the years; (b) Lists for Cash: (c) CPF; (d) Dividend income received.

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Why - have a feel of what I have and it takes less than an hour to update every month, unless I have new ideas to the format. I also feel good especially looking at the current vs the first year I started.

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Who - I do it myself and snapshot the summary to my wife every month.

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Started last year. Keep track of networth with and without cpf. Without cpf gives me a idea how much funds I have if I want to retire before 65

I use excel or google to track my progress...

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