How do you measure your wealth? Ounces of gold or silver? Dollars? Bitcoin?
Let me know in the comments and why.
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day's of living expenses... how i preserve that purchasing power in order to do so changes.
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That's an interesting one. So would you equate that into dollars?
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Rarely in dollars if I'm planning out (unless it's 2 currencies i.e. CAD and USD basket), but yes if I'm looking at the short term (days weeks). It changes as my view of risk to the asset class changes. So currently with 0 interest rates and bonds in a bubble no I wouldn't use dollars... but during normal times I would.
When I bought my house I priced it in local dollars, USD, and gold...and bought based on the price in gold. None of my long term savings are currently in dollars tho (stocks, cryptos, real estate, gold/silver... 0 CAD or USD) so makes no sense to plan in dollars.
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cash is trash.
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By how much freedom and enjoyment you experience in life
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That's a good way to look at it, but normally people measure in units. You weigh 165 pounds, that car costs $10k. If only there were freedom units to measure life by lol
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I measure my wealth with the investment in myself as well as liquidable assets. What is invested in me (education and medicine etc) helps with my ability to keep generating wealth and my liquidable assets add up to what my current wealth is.
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But what unit of measurement do you use to measure your net worth? are you focused on dollar net worth? I know a lot of ancaps that are starting to measure their net worth in bitcoin because of how much BTC the've accumulated.
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I measure my net worth in USD no matter how much altcoin I find myself investing in. Maybe this is because I am so accustomed to thinking in USD in day to day life and I only see investing in altcoins as a fun way to earn some extra money. I am also a college student so my personal assets dont amount to much compared to others but I am investing in my education and I see that as adding to my net worth. Overall, I still think in dollar amounts when investing in altcoin or anything else.
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How do you measure your wealth?
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Yeah eventually I have to bring everything back to USD, but what I'm trying to do is put myself on the gold standard. Gold has been money for thousands of years. If I make less in terms of gold than I did the year before at my job, I consider that a pay cut and tell myself to step it up. At the end of the day the only way to calculate your wealth in real terms is with hard assets, in my opinion. You could have a net worth of $100,000 but in ten years that money will have half as much buying power. I would much rather hold gold silver and cryptos than cash. The only reason I hold cash is for convenience. It's kind of a difficult paradigm shift to take on, but it's a fun ride!
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You should consider a basket to avoid short term noise... gold is stable over long term but can go up and down in its purchasing power (i.e. gold oil ratio, gold dow ratio etc.). Gold is a great start. Remember that gold was never money on its own, it was always part of a duel currency system (with silver). So to be on a true gold standard you would want to price with 1:12 or 1:16 ratio (or one you find historically accurate) basket of gold and silver. If it's not too complicated (and be saving with gold and silver).
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I'm glad you brought up the gold dow ratio and the gold silver ratio. The gold silver ratio is so out of wack it's ridiculous. 70 ounces of silver for 1 oz of gold? You gotta be kidding me. What exactly do you mean "price with 1:12 or 1:16 ratio?" could you give me a good example of this so I can better understand?
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Very interesting and thought provoking. Like it man!!!
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Thanks!
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By how much independence it affords me. My Grandmother was a prepper before I ever knew the word existed. She believed in being ready and not reliant on others when bad times come. I learned alot from her.
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Yeah being a prepper is good. You should be ready for bad times. But how do you measure your independence in terms of wealth? Dollar signs? Gold ounces? The amount of beanie babies you have?
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