BUM
Thinks s/he gets paid by the post
Justin,
I like your balance sheet approach to determining net worth. I've been doing the same thing for years. I value my real estate by estimating its conservative selling price.
As far as misc. items goes, I use the "fish bones" approach and account only for significant items, i.e. Account for your classic car but not the gas in the tank, change in the ashtray, the fuzzy dice. Watch the big stuff.
I think the smallest item I track is the cash value of my whole life policy. I also update 1/4'ly.
I like your balance sheet approach to determining net worth. I've been doing the same thing for years. I value my real estate by estimating its conservative selling price.
As far as misc. items goes, I use the "fish bones" approach and account only for significant items, i.e. Account for your classic car but not the gas in the tank, change in the ashtray, the fuzzy dice. Watch the big stuff.
I think the smallest item I track is the cash value of my whole life policy. I also update 1/4'ly.