Quote:
Originally Posted by scorpio
Just curious, do you count anything toward your net worth other than financial accounts and your house?
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So the concept I'm using it for is to (1) keep track of everything, and (2) see progress over time. I don't bother with including vehicles or other illiquid items that in theory add to net worth (other than the house), but you certainly could if you wanted (offset by any vehicle loan).
Anyone who has credit card or student loan debt should have it on the spreadsheet. You can also input what the interest rates are for the various debt, to help you visualize what debt you should prioritize getting rid of first.
In theory, if you had a baseball card collection or some other kind of collectible, you could include that, but it's pretty much YMMV there. Most types of collectibles aren't exactly a great way to plan for retirement unless it's your actual business, and even then it's risky for your heirs. Usually they need to be sold at firesale prices to convert to cash if anything goes wrong.