Net Worth

Nurse2047

hi
im trying to set up a excel net worth spreadsheet so I can track my accounts, I have noticed some people put their life insurance on their assets is this advisable to do? 

boingy

It depends. Are you wanting to know your net worth with you still being alive or after you are dead?    

Sg28

I certainly wouldn't put life insurance on there. 

Id like to know the reason why?

Gary1984

It perhaps depends on the type of policy. If it's an endowment policy with an expected maturity payment in the future then yes including it would be reasonable.

It's up to you though. It's your spreadsheet, you can decide what it shows.

theoretica

I guess it would be useful to include if you are trying to work out your will and who gets how much.

tafelmoneysaver

This article appeared high in the results for the internet search query "include life insurance in net worth"

https://www.sapling.com/12065138/life-insurance-count-net-worth-values

Ray_Singh-Blue

It's a no from me.

Say you have insurance that pays out £10,000 if you lose an eye at work. Are you going to list that as £20K on your net assets sheet?

Johnjdc

I don't even include my pension or illiquid investments in mine! Strictly stuff I can either cash out today, or will receive a known sum at a known future date (i.e. fixes).

subjecttocontract

What comprises of a 'net worth' list ?
Do you include the value of all your assets.....vehicles, properties, contents, antiques, collectables, jewelry, valuables, overseas stuff etc ? Do you deduct debts & tax owed et c ?

PloughmansLunch

subjecttocontract said:

What comprises of a 'net worth' list ?
Do you include the value of all your assets.....vehicles, properties, contents, antiques, collectables, jewelry, valuables, overseas stuff etc ? Do you deduct debts & tax owed et c ?

Don't forget to list food in the fridge and cupboards - short sell-by dates on meat and dairy are marked as depreciating assets and can be written off when they grow green fluffy mould

subjecttocontract

Well you just might if you owned a corner shop and sold that kind of product I guess.