Thursday, May 1, 2014

Net Worth News

My Net Worth steadily dropped from August 2013 till March 2014 but, I am happy to report a nice increase as of today.

Many people have a different approach for calculating their Net Worth. I do not count my residence, my rental property and my car in my net worth calculation. The market price for property in my opinion is not a valid estimate. Their worth is very much dependent on how fast you need to sell them, how many buyers are out there to buy them at the prevailing market prices, luck and many other variables.

I tally up my cash, checking account, savings accounts (TL and USD), gold coins and my retirement account and calculate my net worth. If all goes well, I am planning to keep on working part time till June 2023 when I will be 56. After that I can retire for good. I do not know if I would like to do that though. Seems to me it is rather early but you never know what your health will be like.

I know people are surprised that I am already semi-retired. This is due to two reasons: First, there aren't many full time jobs out there for me anymore. I am both expensive and too experienced. The job market in this country is cruel. After 45, one is considered old. Second, I am single and I have no dependents by choice. I have always loved my independence and my flexibility and made some OK decisions during the first 24 years of my career so that I can now work part-time and be happy with what I earn. I am thankful for my life. I feel blessed.

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