even if you if you ignore stocks… i own a home that is appraised by the city and taxed at $300k (i’m not talking about an inflated valuation by a real estate agent here), but i only have $5k in liquid cash to bring to the casino floor… you’re telling me that my net worth as a person is only $5k? if i were to apply for a business loan, the bank should assess my net worth as $5k?
What’s the debt on the house? 0$? If it is actually salable for $300k, then net worth would be $305k. Owe $200k on it? $105k net worth. That’s what I meant by “sold every single thing he owns today, and then paid his debts”. Actual tangible assets.
Thats not how net worth works… even for normal people, money on a poker table is an idiotic measure of net worth…
Is it? Basing it off imaginary stock market numbers sounds idiotic to me. And that is a hill I will die on.
even if you if you ignore stocks… i own a home that is appraised by the city and taxed at $300k (i’m not talking about an inflated valuation by a real estate agent here), but i only have $5k in liquid cash to bring to the casino floor… you’re telling me that my net worth as a person is only $5k? if i were to apply for a business loan, the bank should assess my net worth as $5k?
i’m really glad the real world doesn’t work that…
What’s the debt on the house? 0$? If it is actually salable for $300k, then net worth would be $305k. Owe $200k on it? $105k net worth. That’s what I meant by “sold every single thing he owns today, and then paid his debts”. Actual tangible assets.