From a scientist’s view, a person’s value can be assessed by evaluating all chemicals in the body.
I remember having read that the chemical industry could extract several thousand Dollars worth of valuable trace elements out of any adult human. But thanks, no, this is not on today’s agenda.
Double-shot Crowley, a mass murderer who was eventually killed by Police in Manhattan, also had value.
Ask the New York Newspaper editors. For two weeks after they sold record numbers of their papers. It seems that a person’s value really is a matter of perspective, right?
To humanity as a whole, which may be blessed with great inventions or Einstein-ian insights, our value can be absolutely immeasurable.

Even giving the kid some good and lasting guidance for life, makes us most valuable, maybe even more so than Uncle Google’s ever permanent wisdom.

You have a dog? Ask his opinion about how much you are worth and watch out that his tail doesn’t throw down the flowerpot when he gives his answer.

Coming to think of it, even to the beloved Tax Department or to the Health industry we have great value. Here it can be already defined in some numbers. For example, living in Europe, one owes the Health industry over the duration of life about 160,000 Euro. By birth one unwillingly becomes a most cherished Health industry asset. If we are healthy until dead, we cheat the system. Let’s do this and have fun all along the way!

Now we better stop and not to talk about the Tax Department’s expectation of us any more, - because so far I hope you had quite a good day.

After all of the above, there is however one aspect of our life, where we can exactly find out about the value: The calculation of our net worth or wealth.

Why would we want to undergo such a seemingly useless thing, if all is going ’just fine’ right now?

Why on earth taking up extra math homework voluntarily? Having instead at sunset the Margarita on ice with lemon on the veranda is clearly preferable and sure adds nice value to the day.

Here please note: ’just for the day’ .

Looking ahead, it pays not only to know where we stand, but also to line up where we want to be in 10 years, upon retirement or whatever period we decide to focus on.

The left brain half says "why bother?" the other is considering the flipside of the coin – what do we get out of a financial self-analysis?

As you will see, there is an awful lot going for it – right side wins! 

Taking from time to time a look at your or your family’s net worth is much helping to make the right spending or saving decisions and can be most satisfying.

The satisfaction comes from the motivation to build up your net worth, either by working smart and/or hard, or by paying loans off, or by spending less and then to accurately monitor how well you are doing over time. How simple this is you will see in a minute, it takes you probably less time, than I need to finish this letter. 

A quick word in between - Personally I don’t like much to talk about finances and money only.

We all agree, that the value of our life has little to do with a ranking on the Forbes List of the Mega Wealthy, same as it has little to do with comparing ourselves to our neighbours who just received their new all electric hi-tec car.

As we all know, the coffin has no luggage rack. But then, there are likely still many years to come for each of us. In order to live without stress and worry we have to make sure that all goes to plan, which means looking good and sharp at our economical health.

Exactly for that reason we have to check rather more often than just once a year, how well we are doing to secure the good life for family and our good selves by doing some straightforward math. 

The simple formula is: Net worth is the sum of your assets minus liabilities. 

Make an asset summary and keep it on file, because future summaries are then easy to bring up for updating with the latest changes. Liabilities are a loan or the credit card or outstanding payments, such as tax or coming bills. There is really not more to it. Easy! 

There may be some debatable items on your asset list, like the car, which has been bought on credit. Although the car is of diminishing value and ends eventually up on the scrap yard, it belongs under ’assets’ in order to offset your liability (loan) for it. 

The value of a home has been calculated historically as part of one’s net worth. I believe Robert Kiyosaki, author of Rich Dad, Poor Dad was one of the first people to introduce the concept that a home is not an asset. He argues, a home is a liability. Why? Because assets put money in your pocket each month, while liabilities take money out of your pocket each month. (Think of the expenses for maintenance, pool chemicals, repairs…). He went on to say that the difference between assets and liabilities is that in times of crisis, assets will feed you and liabilities will eat you. This couldn’t be more true.

However, particularly if you can use your home to generate passive income through renting out or you are planning to sell one day and live elsewhere without buying another one again, the house is an asset. 

Leased properties need to be assessed by their realistic present value. To find the actual value on the day look at the market situation. For example, are there more luxurious properties in demand or just basic accommodation? Is your area changing which effects pricing, or what is the remaining lease period, how attractive is it still for the follow-on lessee? 

At UbudProperty we don’t mind if you drop in for a quick health check on your property’s value.

Mind you, we are not accredited value assessors, but having a great number of deals on our slate, you can be sure we know one thing or the other about your property’s market value - and we enjoy if we can show off our expertise and can help. 

Having a snapshot of your overall financial health is unbelievably useful when you’re trying to build wealth. You can now focus on paying down debt or investing. By tracking your net worth you’ll actually see your progress in black and white. Watching the progress, even from a minus value going over the neutral line into growth is immensely satisfying and the Motivator Number One to build up wealth and financial independence.

You are biting your fingernails over a will or testament? Now, when having done the asset list, you can at the same time use the list to prepare for this essential and often dreaded task. 

It is quite obvious, - when assets go down, - then it’s time to re-align ourselves with our planning.

However, if someone plans to live on Black Forest Cake only, like Elvis Presley did until his death a few month’s after because of liver failure, a financial self assessment at such time is useless.

Anyway, - who on Bali’s streets can every day home-deliver a slab of non-squashed undamaged cream cake? This, thankfully, is just not possible any more. I know, I had recently to deliver a birthday cake…

Well this is beside the point, we better make sure we stay healthy and fit and do a net worth assessment.

I guess not many people are reading articles like this and have NO IDEA what their net worth is. Therefore, by doing so, you’re setting yourself apart from the crowd. Congratulations!

Hey, the net worth assessment will get you well on your way to building up wealth by creating a tool which will assist you in more often making the right saving, spending or investment decisions.

Another benefit: Tracking your net worth allows you to see your progress over time. It might not feel like it, but when you’re paying your monthly bills and throwing a little extra toward your loans or savings, maybe for house No.2, little by little your financial health is becoming stronger. Your personal bar graph is getting taller.

Eventually, chances are you are become an addict and love watching the numbers go up. It’s completely validating to know that changing from buying imported delicatessen to local food is quite literally paying off and it becomes a lot easier to control unnecessary spending.

Bring yourself to think about the difference between wanting to needing. I used to think nothing of going out for lunch almost every single day. Given, that we often even don’t know what the ingredients in the food are, at home we are now changing over to healthy home cooking. A Win/Win situation. The health industry is cheated, - and money is adding up! All thanks to the net-worth-check.

So, what are you waiting for? 

A contribution of ME