Offer your thoughts or opinion on the input financial query or topic using your financial background.

For net worth, should I value physical property at my cost to replace it, or the amount I could get for selling it?
There is no objective "should".  You need to be clear why you're tracking these numbers, and the right answer will come out of that. I think the main reason an individual would add up their assets and net worth is to get a sense of whether they are "making progress" or whether they are saving enough money, or perhaps whether they are getting close to the net worth at which they can make some life change.  Obviously shares or other investment property ought to be counted in that.   Buying small-medium consumer goods like furniture or electronics may improve your life but it's not especially improving your financial position.  Accounting for them with little $20 or $200 changes every month or year is not necessarily useful. Things like cars are an intermediate case because firstly they're fairly large chunks of money and secondly they commonly are things people sell on for nontrivial amounts of money and you can reasonably estimate the value. If for instance I take $30k out of my bank account and buy a new car, how has my net worth changed?  It would be too pessimistic to say I'm $30k worse off.  If I really needed the money back, I could go and sell the car, but not for $30k.  So, a good way to represent this is an immediate 10-20% cost for off-the-lot depreciation of the car, and then another 12% every year (or 1% every month). If you're tracking lifestyle assets that you want to accumulate, I think monetary worth is not the best scale, because it's only weakly correlated with the value you get out of them.   Case in point: you probably wouldn't buy a second-hand mattress, and they have pretty limited resale value.  Financially, the value of the mattress collapses as soon as you get it home, but the lifestyle benefit of it holds up just fine for eight years or so. So if there are some major purchases (say >$1000) that you want to make, and you want to track it, what I would do is: make a list of things you want to buy in the future, and then tick them off when you either do buy them, or cross them out when you decide you actually don't want them.  Then you have something to motivate saving, and you have a chance to think it over before you make the purchase.  You can also look back on what seemed to be important to you in the past and either feel satisfied you achieved what you wanted, or you can discover more about yourself by seeing how your desires change.  You probably don't want to so much spend $50k as you want to buy a TV, a dishwasher, a trip to whereever...