Net Worth Calculation.... Hand & Power Tools

[Fedupwiththis]

Originally Posted by CaptainNJ

im not really sure what most people are using this net worth calculation for other than their own entertainment and general info.

Agreed, I know a guy who's owned a blog for many years. He has an okay following, makes some cash from it, and even gets to travel for free because of it. He's "estimated" that the cost to build a similar site, the content man hours, the income it produces, etc. would make him a "net worth millionaire". Don't get me wrong, there's def value to the website, but something is only worth what someone else is willing to pay. And I couldn't see someone paying anything more than the cost to build the site plus what it earns a year, maybe $80k-$120k.. Of course I could be wrong.

I have a few things I could prob add to my net worth, 2 paid off vehicles and a motorcycle. Prob $30k worth, I've just never bothered to figure it into my net worth as they're depreciating assets.

[CaptainNJ]

Originally Posted by ericp501

Agreed, I know a guy who's owned a blog for many years. He has an okay following, makes some cash from it, and even gets to travel for free because of it. He's "estimated" that the cost to build a similar site, the content man hours, the income it produces, etc. would make him a "net worth millionaire". Don't get me wrong, there's def value to the website, but something is only worth what someone else is willing to pay. And I couldn't see someone paying anything more than the cost to build the site plus what it earns a year, maybe $80k-$120k.. Of course I could be wrong.

I have a few things I could prob add to my net worth, 2 paid off vehicles and a motorcycle. Prob $30k worth, I've just never bothered to figure it into my net worth as they're depreciating assets.

i figure the blog is worth what someone would pay for it. no need to calculate the man hours put into it. calculating the value of a business ownership may be complicated but if someone can sell the business for that, then it should be in their net worth calculation.

[gunslinger256]

Originally Posted by damba

In a very white collar, upper class area, you won’t typically see that many $$ tools. They will typically pay someone to do that stuff. Down the food chain a little more, unless it’s hobby related, I don’t see as many owned tools when people can borrow from a friend or simply rent something. YMMV

for many younger people the only tool they own is their phone