The Wealth Farmer

It has been a while since my last post as I was on holiday with my family and also just started playing the game: Black Myth: Wukong. I had wanted to put up at least a post weekly but figured that this is what semi-retired means, I shouldn’t be too bothered about these self-imposed rules.

For our holidays, my wife is always the one that plans out everything and books everything. It was only during the trip that I found out how expensive our hotel stay was. It was definitely on the higher end and the hotel was fabulous. The service we received during our stay was excellent too. Regardless, it was still expensive and I had to constantly remind myself that it was OK, it was something we can afford and don’t sweat the small stuff.

What does small stuff mean? I have read somewhere that if something is only 0.1% of your net worth, then you shouldn’t waste time thinking about it before buying. This means that if you have $10mil, anything below $10k isn’t worth wasting too much of your time considering. I agree with this but also constantly falls into the trap of wasting time researching for an item that cost maybe only 0.001% of my net worth.

Other than using 0.1% of your net worth as a benchmark, I think there are some other stuff I wouldn’t sweat over:

1. Maximising credit card rewards
2. Optimising your daily expenses by cutting down on coffee etc
3. Moving your cash from bank account to bank account to enjoy higher rates

To be honest, I have done most of the stuff above when I was younger. It is still useful for people who are just starting out in their careers not just financially but also helps with their discipline. But as your net worth grows, you will have to stop spending time mulling over these and move on to the bigger picture. For most, it should be increasing your main income source.

For me, the bigger picture now is about spending time with my family, being able to enjoy the fruits of my labour while doing my monthly cash DCAs to hit my Retirement Portfolio number.