Net worth update 29 January 2017


Kung hei fat choi to the Filipino Chinese community! While I don’t believe in Chinese traditions, I personally enjoy eating all the tikoys. Just yummy. I also find it entertaining to listen to my Chinese horoscope every morning from That morning show on ABS-CBN.

It’s been quite a busy two weeks for me. A few all-nighters here and there but I never fall short of family time. To usher in the Chinese new year and to ever keep myself accountable to an audience, let me give you an update on my net worth.

Net worth

PhP 1,445,004.68

This is comprised of the following :

Rel properties 56.02%

Stocks 22.85%
Cash 21.13%

From the time that I started this blog in September 2015, my net worth has grown 189%. Back then, becoming a millionaire appeared so remote. I never even contemplated reaching this kind of growth in 15 months.

I got lucky with my assets, whose present value increased despite present market conditions. I’ve been buying stocks for quite a long time.

Other than that, starting this blog and sharing my net worth, buying expensive real estate, and saving over 60% of my net take home pay have truly super charged my net worth growth.

Keeping myself accountable through this blog

This blog is a non-profit. I earn absolutely nothing and write articles here not only as a hobby , but to share my financial literacy advocacy to Filipinos who are lacking in information.

This blog has intangible benefits – sharing my net worth updates keeps me accountable to you, the reader. Not wanting to disappoint readers, I am motivated to keep expenses low and avoid shopping frivolously, which is difficult for me at times, as a former shopping enthusiast.*

Buying real estate as forced savings

When I signed that contract to sell with my developer in 2014 and committed to paying almost PhP 10,000.00 (USD 200.00) a month in equity, I knew I had taken on a huge responsibility. Should I f##k up, all my equity payments would be lost. This threat of loss kept me from wasting money like I used to.

Further buying land, made me dream about eventually buying land within the city. I could never have saved and paid so much in equity had I not bought real estate. That cash would’ve just either: (1) been spent on tickets to Europe! ; (2) spent on shopping ; or more remotely, (3) been saved or invested. That last possibility is so remote, given my young and flighty self, whose priority back then was just travel and shopping! Come on, you know those are where most 20- something millenials’ priorities lie.

Saving over 60% of net take home pay

Note that this kind of extreme saving may not be possible for everyone. I have to check my privilege. Living at home for a while, I enjoyed several subsidies from my parents. These were in the form of food, electricity, water, laundry and maid subsidy. Sure, I paid rent (which was below market rate), but what I got for it was so much more.

Now that I live away from home, I now take over paying for every household expense, without subsidies.

Saving rate in 2016

My saving rate in 2016 dropped because of several major life events. I also started living away from home and no longer enjoy the parental subsidies.

In 2017, I hope to maintain a higher saving rate. To the second million!

Have you started tracking your net worth yet?

20 something lawyer

*Fortunately I never got into debt because I never opted to get a credit card. Thanks for the advice mama! But I didn’t save much either.

12 thoughts on “Net worth update 29 January 2017

  1. Pleasantly surprised to run into a young professional with clear goals and actions to build wealth… I just turned 50 and just retired because like you I planned and executed my plans religiously. I learned the stock market and property investing as well… I was also lucky to have the opportunity to work abroad and for a job that paid a lifetime pension at 50. My investments include rental properties in Pinas worth 20m earning 100k monthly … Stocks sa usa worth 650k usd and monthly pension 135k php or 2700 usd. I worked a total of 20 yrs and saved 40% to 50% of my salary… The principles and strategies are the same whether you’re in the rat race here or abroad. If you save 1k monthly it’s 12k annually likewise if it’s 15k monthly it’s 180k annually. Live below your means, make your money work for you, and recognize opportunities that come your way. I’m teaching other people to do this and enjoying life now.
    Feel free to ask me questions and I’m more than willing to share my knowledge and experience.

    Liked by 1 person

    1. Hi John, congrats that’s quite a substantial passive income you have going there! Love to know the same thing happens whether one lives here in Pinas or in the US. Most people here unfortunately have this notion that working / moving abroad will be the panacea to all their money worries. I feel that unless one learns the basics of personal finance, one will never improve financially, no matter how large the income


      1. Tama ka dyan and this is my mission in life now. Definitely can be done here Sa pinas… With our 100m people and 7% growth rate, opportunities abound. Key is losing some tightly held notions that tend to dictate and impact our financial decision making success. Not all real estate investing are equal and preselling condos aren’t always investments and I tend to run away from Mlm and quick get rich money schemes. Budgets and setting limits on family obligations without guilt are easier said than practiced but it’s a key ingredient for success.

        Time and growth and regular investments in stocks work esp with cost averaging… Buy regularly so you dont have to fear the market highs and lows and remember that a crash or bear market is a buying opportunity especially when you have 5 to 10 yrs or more in time horizon… Crashes are stocks on sale stick to blue chips that are sure to stay. Diversity in where you put your money mitigates your losses. Which means real estate, cash and insurance. You have to study all of these possible parking lots for your money.

        Always be guided by your goals that lead to financial freedom and be guided by these financial independence phases: wealth accumulation, income replacement, and maintenance/liquidation.


        Liked by 1 person

      2. I’m still hustling at the wealth accumulation phase. Hehe.. Thanks for the substantial gems of wisdom John!


      3. “milking cow” – I truly feel for the ofws. It’s much harder for them to manage their money from afar. They’re also required to remit a certain portion of their salary (allotment) back to their home country. So if their money manager (like wife) isn’t competent, it is a recipe for financial disaster


  2. Hi George. Your net worth’s soaring! I think we started around the same time and now you’re on your way to P2M! Haha. I hope to reach the million mark soon too. 🙂 *crosses fingers*

    Keep it up, girl! 😉

    Liked by 1 person

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