My Net Worth
I am using three pillars to achieve the Financial Sovereignty required to achieve my dream.
1. Debt Elimination. Ongoing struggle, but focused.
2. Control My Expenses. Track my expenses, and regularly justify them.
3. Strengthen and multiply my revenue streams. I sell my labor by the hour, own 2 rental properties, am investing my savings (putting my capital to work), and am actively looking for a business to buy into.
I have important assets that are not calculated in my Net Worth. A defined benefit pension plan that currently stands at $2150/month, and I also own 2 rental apartments. I choose not to put a monetary valuation on these at the moment as they are hard to quantify.
Sept 2005 I had a negative net worth, and had never been debt free. An event inspired me to take charge. I had a dream that I was working toward with a laissez faire attitude. I decided to focus on achieving it, and also to show to anyone that cared to follow that anyone at any age can reach out and grab financial sovereignty. It just takes focus.
Update:
Gryffindor on NetWorthIQ quite rightly pointed out that my defined benefit pension could be quantified as follows:
“The easy way would be to think of this as a bond that pays out interest — around 24k. If you assume that the bond is around 5% that would be 20x times the cash flow or $480k.” Also I can cash it in for $205k, which is nowhere what it is worth if I keep it.
