EscapeVelocity's Net Worth for September 2023

Assets	Value	Change ($)	Change (%)
Stocks & Bonds	$23,568,892	($565,144)	(2.34%)
Retirement	$1,581,624	($17,386)	(1.09%)
Home	$2,731,250	-	-
Other Real Estate	$561,920	$89,767	19.01%
Cars	$50,000	-	-
Personal Property	$0	-	-
Business	$40,000	-	-
Sail Boat	$405,000	-	-
Power Boat	$150,000	-	-
Total Assets	$29,088,686	($492,763)	(1.67%)

Debts	Value	Change ($)	Change (%)
Home Mortgage(s)	$0	-	-
Other Mortgage(s)	$0	-	-
Student Loans	$0	-	-
Credit Cards	$0	-	-
Car Loans	$0	-	-
Other Debts	$0	-	-
Total Debts	$0	-	-
Net Worth	$29,088,686	($492,763)	(1.67%)
^*All values shown in USD ($)

Notes:
I am in favor of always including real estate in my net worth, but the value of real estate is always hard to accurately suss out. That said, I've finally updated the still-conservative value of our second home (values are always net of taxes and anticipated sales expenses). Likewise, while I have not addressed the value of my primary residence, which we bought at the peak last year, I've recently invested over $750K in an ongoing remodel since then so it's probably still about accurate (by my estimate, I think prices have dropped about 10% from the peak last year). Note that, to make the payments less painful, all the money for remodeling had been previously set aside from the sale of my business and not accounted for in my NW.

Notes:

I am in favor of always including real estate in my net worth, but the value of real estate is always hard to accurately suss out.

That said, I've finally updated the still-conservative value of our second home (values are always net of taxes and anticipated sales expenses).

Likewise, while I have not addressed the value of my primary residence, which we bought at the peak last year, I've recently invested over $750K in an ongoing remodel since then so it's probably still about accurate (by my estimate, I think prices have dropped about 10% from the peak last year). Note that, to make the payments less painful, all the money for remodeling had been previously set aside from the sale of my business and not accounted for in my NW.

Comments

10/16/2023 10:00:26 AM cloudcaster
@Escape - It's been fascinating reading your comments over time, thank you for recording them! (I wish I had your acumen that early in life - so motivating to see you enjoying their fruits now!) I have a significant stake in my company as a co-founder, but it's a minority non-controlling position, so I don't include it's value in my NW. Just curious if you were the primary owner of your business before you sold it, and how you valued it along the way? Was it formulaic or an educated guestimate?
10/16/2023 10:24:09 AM EscapeVelocity
Hi @cloud! I’ve owned several businesses, but only one as a minority interest. It can be a tough spot and hard to value—but I’d always include a value in my NW. I’d just err towards being super conservative and use an after-tax net value. As for me, it was an educated guess, but I was ultimately about right.