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

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 octogenarian from 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.

Photos: Courtesy of the Blakeslee Family

13 Comments April 5, 2018

Comments

  1. 1

    Jason says

    That is a beautiful view!

    Reply
  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?

    Reply
    • 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.

      Reply
  3. 4

    Joe says

    Truth!

    Reply
  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.

    Reply
  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.

    Reply
    • 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.

      Reply
  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.

    Reply
    • 9

      RD Blakeslee says

      Liberty and independence. Can’t beat them, Andy

      Reply
  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?

    Reply
    • 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”.

      Reply

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. […]

    Reply
  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 […]

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Question of the Week:

What did you do with your latest COVID stimulus check?

View Results

Loading ... Loading ...

Recent Posts

  • I’m Stumped: 7 Perplexing Money Questions Without a Good Answer
  • Black Coffee: A Land of Confusion
  • Which Sectors Got a Real Boost in 2020?
  • The Top 10 Ways to Quickly Make $500 in 2021
  • How Home Crowdfunding May Let Millennials Live the American Dream
  • 3 Important Tax Deduction Rules You Should Always Remember
  • 5 Ways You Can Save Money on Groceries This Week
  • Economic Collapse 101: How to Prepare for Water Supply Disruptions
  • Black Coffee: Painting the Town Red
  • 5 Ways the Oil Industry Affects the US Economy

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 30,000 readers and fans who enjoy personal finance and macroeconomics with an offbeat twist!
Invalid email address
Thanks for subscribing!

Popular Now:

  1. 1. A Simple Test to Know If It’s Better to Rent or Buy a Home
  2. 2. My Cola Taste Test: Is Coke Really Better Than Pepsi?
  3. 3. My 10 Commandments of Personal Finance
  4. 4. The Best Personal Finance Book I’ve Ever Read
  5. 5. Planning a Wedding? Here Are 9 Ways to Ensure You’ll Pay Too Much
  6. 6. 5 Things Nobody Tells You About Being Poor — for Good Reason
  7. 7. 4 Good Reasons Why Some Quarters Are Painted Red
  8. 8. 3 Great Hobbies That Are Investments Too
  9. 9. 10 Red Flags That May Signal You’re In Serious Financial Trouble
  10. 10. Are Gas Clothes Dryers Worth the Extra Money?

All-Time Most Popular:

  1. 1. 19 Things Your Suburban Millionaire Neighbor Won’t Tell You
  2. 2. Dear Friend: Here Are 41 Reasons Why I’m NOT Lending You 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 © 2021 Len Penzo dot Com · All Rights Reserved · Designed by Nuts and Bolts Media

Copyright © 2021 · Penzo on Genesis Framework · WordPress · Log in