• About
  • Mortgage Basics
  • $40K Challenge
  • Aunt Doris
  • Grandfather Says
  • Privacy
  • Archives
  • 100 Words

Len Penzo dot Com

The offbeat personal finance blog for responsible people.

Grandfather Says: Net Worth and Real Value

By RD Blakeslee

Original oil painting by: Grandfather’s wife

Grandfather gets unhinged when the subject of his net worth comes up, because it bears no relation to his values and enjoyment of life.

Is he a millionaire? He says that depends on the price of local real estate next week, which is of no interest to him.

His interest is in the value of his real estate and that’s priceless. He uses it to produce fuel (firewood), food, his water supply (a cistern full of soft water with primary filtration by the atmosphere) and some marketable stuff, like timber, hay and cattle (some of which go into the family larder).

He does invest in his version of futures. They mature about nine months after his cows are bred when the calves arrive.

Here’s something else that’s priceless:

The view looking west from Grandfather’s House.

***

About the Author: RD Blakeslee is an nonagenarian in West Virginia who built his net worth by only investing in that which can be enjoyed during acquisition and throughout life, as opposed to papers in a drawer, like stocks and bonds. You can read more about him here. This article was originally published on 5 April 2018.

Photos: Courtesy of the Blakeslee Family

August 11, 2022

Comments

  1. 1

    Jason says

    That is a beautiful view!

  2. 2

    RD Blakeslee says

    Thank you, Jason

    The views in the other three directions are also beautiful, but shorter.

    Quality of life is not very much about money, is it?

    • 3

      Jason says

      It certainly isn’t. Money can’t buy you the happiness and peace of mind that you have with a comfortable, productive, paid for home. Money can’t buy you the freedom to live the way you want. Money can’t buy you happiness. Of course, neither can poverty.

  3. 4

    Joe says

    Truth!

  4. 5

    RD Blakeslee says

    Aristotle’s philosophy encompassed the idea of a “golden mean”: all things in moderation.

    When one looks at governance as I have for many years now, I sometimes wonder if Aristotle’s concept of rule by philosopher kings might not be so far fetched.

    If so, China’s reversion to its historical rule by a monarch might be seen in a less panicked light than is currently fashionable in our “democracies”.

    On the other hand: “Democracy is the worst form of governance on earth – except for any other” – Winston Churchill.

  5. 6

    Bill says

    Truer words were never spoken. This becomes evident to most people as they get older. Those who realize this early in life are truly blessed.

    • 7

      RD Blakeslee says

      Bill, you’ve pointed out a very important truth, I think: If one starts early to become as independent as possible, one is blessed, because not only is old age well provided for, but life along the way is more satisfying than it might be otherwise.

  6. 8

    Tnandy says

    Yep…..money in the bank, or in stocks/bonds is not wealth…..but could be if converted to real things. Like RD, I’ve converted a lot of our earnings over the years into a small homestead that produces much of our food, fuel, energy (solar), water, and so on. Doing for yourself is hard work (I spent the day at my sawmill producing lumber for my uses), but so far, it isn’t taxed, and lessens your dependence on other folks getting up and going to work in order for you to live.

    • 9

      RD Blakeslee says

      Liberty and independence. Can’t beat them, Andy

  7. 10

    Deb in SD says

    RD – I have my own little homestead. I worked for the fedgov (mostly GS 5) for 30+ yrs. My own desire to be as self sufficient as possible comes from seeing decades of bad management and stupid spending at the small facility I worked at. I figure that it only gets exponentially worse as you go up the chain. We’re you influenced by those things as well?

    • 11

      RD Blakeslee says

      Deb, congratulations on your independence!

      I was a Patent Examiner and our product was more useful than most, I suppose, but our procedures were stacked against ordinary folks who weren’t represented by attorneys. Generally speaking, I felt I had better things to do and retired as early as I could.

      There are some details in a previous “Grandfather Says” article: “A Big Secret of Doing Well in Life”.

  8. 12

    RD Blakeslee says

    I’m now several years older than when I wrote this article and I enjoy my version of net worth as much as ever. I remain untroubled by any need to treat it like conventional, fiat money priced, “net worth”.

  9. 13

    David C says

    Absolutely Magestic!

    • 14

      RD Blakeslee says

      Well, David, Kings (majesties) are out of style right now, but I get your drift.

      Thank you!

  10. 15

    bill says

    I don’t know how anyone could look at that view and not believe in God.

    My worth is determined by the lives I’ve impacted for good while I’m here. All that will remain when I’m gone is the change the good inspired.

    • 16

      RD Blakeslee says

      Very altruistic way of going, Bill. Congratulations!

  11. 17

    bill says

    “He who dies with the most toys, still dies!”, a guy named bill told me that years ago. (Yes, I talk to myself in my mind.).

    “I’ve never seen a Brink’s truck in a funeral procession.”, a dear friend, Anne Quigley, told me that one day. She was one of the biggest philanthropists I knew.

    “Money is like fertilizer. It doesn’t do any good unless you spread it around.”, told by bill to Anne Quigley. I got an, “Amen Brother Ben! Amen! Shot at the goose, and killed the hen!”. She passed over 22 years ago, and I miss her every day.

    • 18

      Len Penzo says

      My Dad always used to say something similar, Bill. He’d say, “I never saw a Brink’s truck follow a hearse!”

  12. 19

    RD Blakeslee says

    I say: “Time is money? Tell that to a man on his death bed!”

  13. 20

    bill says

    Mr. Dave, our net worth may be in the good we still do, and the laughs we give people. It takes so little to help make a person’s day better. We have a lifetime of humor stored up.

    • 21

      RD Blakeslee says

      Bill I agree, but sometimes I get the impression that I enjoy my jokes more than my audience does…

      • 22

        bill says

        Mr. Dave, I would remember something hilarious while I was working. I’d burst out laughing. I wouldn’t tell anyone what I was laughing about, and keep on working. It used to creep a certain coworker out. I’d hear her say, “I hate it when he does that. It creeps me out.”. It made the laugh all the more enjoyable. lol

Trackbacks

  1. 8 Tips to Ensure a Safer Trust Deed Investigation – Len Penzo dot Com says:
    June 29, 2018 at 4:15 am

    […] some time to think about the value of the real estate collateral and make sure you have more than one indication of the market value. […]

  2. Should You Buy a Diamond Engagement Ring from a Retailer or Wholesale? – Len Penzo dot Com says:
    October 4, 2019 at 5:36 am

    […] a retailer, sell directly to the customer. A retailer sells the same diamond at a higher price by adding value and services to the […]

The Question of the Week:

What is the minimum annual income you need to be truly happy?

View Results

Loading ... Loading ...

Recent Posts

  • Black Coffee: Welcome to the Fun House
  • A Georgia Teacher Shows Why It Always Pays to Read the Fine Print
  • Why Extended Warranties Sometimes Do Make Sense
  • 10 Ways to Get the Most from Your Next Business Conference
  • 36 Amazing Uses for Plastic Grocery Bags
  • Black Coffee: A Ponzi for Your Thoughts
  • Grandfather Says: The Continuing Chronicles of Elaine, Part 6
  • What You Must Know Before Filing a Medical Malpractice Lawsuit
  • Million Dollar Neighborhoods Are Still Popping Up Across the US
  • Why Extended Warranties for New Tires Are A Waste of Money

Disclaimer

This site is for informational and entertainment purposes only, and the content herein should not be mistaken for professional financial advice. In fact, making investment decisions based on information published here, or any other website for that matter, is more than unwise; it is folly. This website accepts advertising in the form of monetary and other compensation; as such, topics of discussion are occasionally influenced by these advertisers. Sometimes, an article may also include affiliate links, meaning, at no additional cost to you, this blog earns a commission if you click through and make a purchase (for example, as an Amazon Associate I earn from qualifying purchases). Remember, you and you alone are responsible for the decisions you make in life, so please contact an independent financial professional for advice regarding your unique personal situation.

Sign up for the weekly Len Penzo dot Com newsletter
Len Penzo dot Com Delivered Weekly
Join more than 40,000 readers and fans who enjoy personal finance and macroeconomics with an offbeat twist!
Invalid email address
Thanks for subscribing!

Popular Now:

  1. 1. Scientists Say This Clever Trick Can Help You Break Your Overspending Habit
  2. 2. 4 Online Shopping Mistakes You’re Making and How to Avoid Them
  3. 3. When Is the Right Time to Use Your Wealth Insurance (Gold & Silver)?
  4. 4. Dear Friend: Here Are 41 Reasons Why I’m Not Lending You the Money
  5. 5. Home Repair Scams: Here Are the 9 Biggest
  6. 6. Trying to Save Money on Gas? Here’s Proof That Driving Out of Your Way Rarely Helps
  7. 7. How I Fought My Parking Ticket and Beat City Hall
  8. 8. Are You Frugal or Cheap? Here’s How to Know the Difference
  9. 9. Historical Gold & Silver Benchmarks for Wages and Commodities
  10. 10. 4 Good Reasons Why Some Quarters Are Painted Red

All-Time Most Popular:

  1. 1. 19 Things Your Millionaire Neighbor Won’t Tell You
  2. 2. Dear Friend: Here Are 41 Reasons Why I’m NOT Lending the Money
  3. 3. Why Your Expensive Luxury Car Doesn’t Impress Smart People
  4. 4. If You Can’t Live on $40,000 Annually It’s Your Own Fault
  5. 5. 21 Reasons Why Corner Lots Are for Suckers
  6. 6. 4 Smart Reasons Why College Isn’t for Everyone
  7. 7. 18 Fast Facts About Social Security Numbers
  8. 8. My Ketchup Taste Test: Upset! Guess Which Brand Topped Heinz
  9. 9. Why I Prefer a Spreadsheet to Track Expenses and Manage My Finances
  10. 10. Here’s a Simple Trick for Getting Credit Card Interest Charges Waived

Copyright © 2023 Len Penzo dot Com · All Rights Reserved · Designed by Nuts and Bolts Media

© Len Penzo dot Com 2008–2023