10 Ridiculous Things That Qualify as “Assets” in Financial Planning
When you think of assets in financial planning, you probably picture things like your home, retirement accounts, or maybe a classic car. But the world of personal finance is full of surprises. Some so-called “assets” are downright ridiculous, yet they still find their way onto balance sheets and net worth statements. Why does this matter? Because understanding what truly counts as an asset—and what’s just wishful thinking—can make or break your financial future. If you’re serious about building wealth, you need to know which assets are solid and which ones are just smoke and mirrors. Let’s dive into ten of the most ridiculous things that people (and sometimes even professionals) count as assets in financial planning.
1. Beanie Babies
Remember the Beanie Baby craze of the 1990s? Some collectors still list these plush toys as assets, convinced they’ll fund their retirement. While a few rare Beanie Babies have sold for impressive sums, the vast majority are worth far less than their original price tags. Relying on collectibles like these as part of your financial planning is risky. Markets for collectibles are notoriously volatile, and demand can disappear overnight. If you’re tempted to count your Beanie Baby collection as an asset, ask yourself if you could actually sell them for cash today—or if you’re just holding onto nostalgia.
2. Unused Gift Cards
It might sound silly, but some people include unused gift cards in their list of assets. While technically they have value, gift cards are only as good as the store’s solvency and your willingness to spend them. Retailers can go out of business, and gift cards can expire or get lost. Instead of treating them as assets, use them promptly or exchange them for cash or other gift cards through reputable platforms. This way, you’re not overestimating your net worth with something that could easily become worthless.
3. Frequent Flyer Miles
Frequent flyer miles and credit card reward points often show up in personal net worth calculations. While these points can be valuable, their worth is highly subjective and can change at any time. Airlines and credit card companies frequently devalue rewards programs, making your points less valuable overnight. If you’re counting on miles as an asset in your financial planning, remember that they’re not protected like cash or investments. Use them strategically, but don’t rely on them as a cornerstone of your financial future.
4. Old Electronics
That drawer full of old smartphones, tablets, and laptops? Some people list these as assets, assuming they’ll fetch a decent price someday. In reality, electronics depreciate rapidly, and most become obsolete within a few years. Unless you have a rare, vintage device, your old gadgets are unlikely to add much to your net worth. If you want to maximize value, sell or recycle them sooner rather than later. Don’t let outdated tech inflate your sense of financial security.
5. Uncashed Checks
It’s not uncommon for people to count uncashed checks as assets, especially if they’re waiting on a big payment. However, it’s not truly yours until the check is deposited and clears. Checks can bounce, get lost, or expire. If you’re holding onto uncashed checks, deposit them as soon as possible. This ensures your financial planning reflects reality, not just hopeful expectations.
6. Clothing and Shoes
Some fashion enthusiasts tally up the value of their wardrobes as part of their assets. While designer items can hold value, most clothing and shoes depreciate quickly and have little resale value. Unless you’re in the business of flipping high-end fashion, it’s best to leave your closet out of your financial planning. Focus on assets that appreciate or generate income instead.
7. Timeshares
Timeshares are often marketed as valuable assets, but they can be more of a liability. Maintenance fees, difficulty selling, and limited flexibility make timeshares a questionable addition to your asset list. Many owners find that their timeshare is worth far less than they paid, and some even struggle to give it away. If you’re considering a timeshare as an asset, research the resale market and ongoing costs first.
8. Unpublished Manuscripts or Art
Writers and artists sometimes count their unpublished works as assets, hoping for future fame and fortune. While creativity is valuable, an unpublished manuscript or unsold painting has no market value until someone is willing to pay for it. If you’re banking on your creative projects as part of your financial planning, focus on building a portfolio that generates real income or has a proven market.
9. Lottery Tickets
It’s shocking, but some people actually list lottery tickets as assets, especially if they’re holding onto tickets for a big drawing. The odds of winning are astronomically low; until you win, a lottery ticket is just a piece of paper. Financial planning should be based on realistic, tangible assets, not long shots.
10. Personal Relationships
This one takes the cake: some people consider their network of friends, family, or business contacts as “assets.” While relationships are invaluable in life, they don’t belong on a balance sheet. Relying on personal connections for financial security is risky and can lead to disappointment. Build your financial planning around real, measurable assets instead.
Rethink What Counts as an Asset
Financial planning is all about clarity and honesty. By recognizing which “assets” are more fantasy than fact, you can make smarter decisions and avoid costly mistakes. Focus on assets with real, tangible value that can be converted to cash or income when needed. This approach will help you build a more resilient and realistic financial future.
What’s the most ridiculous “asset” you’ve ever seen someone count in their financial planning? Share your stories in the comments!
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