Net worth update as of 27 February 2016

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As I said before, WordPress failed me. One of my blog posts on net worth completely disappeared. This is a hassle because until now, I didn’t back up my blog posts. Lesson learned. I will attempt to reconstruct my post from memory as best as I can.

I am currently on a journey towards making my first million (pesos or about USD 20,000.00) before I turn thirty or before I get married. Ever since college my mom always taught me to be self-reliant and never rely on a spouse for money.  Before I marry, I want to be financially self-reliant and have my independent source of income. I have no interest in being a typical Filipina who gets married right out of college with no sense or experience of ever being independent. I respect those who do, but I just wasn’t raised that way.

I have always advocated honesty. And despite Pinoys being coy about talking about money, I will come out and say my net worth. I do so in order to keep myself accountable to an audience and to hopefully inspire others out there to do the same.

Current net worth as of 27 February 2016
PhP 898,911.25

This amount is broken down as follows
Cash 36.42%
Equity in condo 36.5%
Stocks 27.08%

As you can tell, most of my asset is held up in real estate – a necessary evil to investing in a home. Shelter is a basic need that I want to have. I hold a lot in liquid assets in the form of cash -time deposits and passbook deposits. I’m pretty low-tech and barely trust the Internet banking system. I like to balance my liquidity with investments because I want to be ready in case of any emergency.

Lastly, I hold some pretty safe and stable blue -chip stocks. In law school, I used to trade risky mining stocks for fun. The yields were high and fast. It was an exciting time for the market too, with the influx of foreign money. I don’t do that anymore because of the current downturn in the stock market.

To the first million!
20 something lawyer

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10 thoughts on “Net worth update as of 27 February 2016

  1. Wow, this is the first time I’m seeing someone else (from the Philippines, at least) post their net worth online. 🙂 I’m tracking mine monthly too in my blog, http://www.ithecorporateslave.com. I feel you in that part where you shared your goal. 😄 I’m still in the half million range but looking forward to hit the million mark too! Good luck to us! 🙂

    Like

  2. Hi there,

    Congratulations on your soon reaching million milestone!!!

    Your post are trully inspiring and myself also into investing in stock market. I’m saving some of my cash for the purchase of blue chips stocks once market going downward.

    Btw, I came across your site when searching information for living expenses in Makati.

    Good luck and hope you get your networth growing higher and steadily.

    Regards,

    Raph

    Like

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