Massive changes

September 24, 2012


I am closing in on it.

There have been major changes. First, I bought another condo – a much larger place than my first one. I paid cash for it and paid cash to furnish it from the ground up. I also re-did the kitchen with fully modern conveniences and even imported an American dryer (a Whirlpool) and had some fellow with a large drill create a hole in the cement wall of my building to vent it. I put in a wood floor, removed some unnecessary walls, and am busy buying all new electronics.

I got a fair deal on the place and am including all the money I spend on it as part of the accounted-for value of the place, though this inflates it some. However, before I reach my goal, I will depreciate everything that doesn’t equal its true value as measured in dollars. For instance, I have this new place valued at close to $300K, but I probably could only sell it for about $260K, which means I will have to depreciate it as an asset down to its true value before my number reaches zero.

And speaking of my number, my income is rolling along. No wavering and no moments of thinking that the whole shebang is coming to a halt (though where I live anything is possible). I will clearly make it. Moreover, I have rented out my old place and have good income from that place.

Next stop is my retirement condo in the USA. I figure I will have the funds for that (plus about $60 – 70K for a new car) by May of 2014 at the latest. I plan to spend about $420K on my condo. I will actually have that much long before May of 2014 but much is tied up ┬áin my IRA, which I cannot touch, and other funds that I’ll need for savings.