Saturday, June 7, 2014

how could i determine my grandfather's net worth?

how could i determine my grandfather's net worth?
my grandfather is a multimillionaire. he's in the oil business and has made many ridiculously wise investments (developed large lot of santa fe before its boom in the 80's). he's sort of an "old money" type (he's not ostentatious at all) and a reverse snob; he's very frugal, does NOT talk about money (and is very prudent about talking about anything he's associated with that would indicated wealth or snobbery, ie, he's acquainted with high-profile businessmen and politicians but avoids the subject), and generally everything that someone who's nouveau riche is not. This is why I don't know how much his estate is worth because he lives way below his means. his kids (and this grandchildren) don't even know how mcuh he makes (i think its because he doesnt want feel like they dont need to work). how do i figure out how much hes worth (hes not rich enough to be in forbes). somewhere between 1 million and 50 million (a stretch, but he IS in oil). also-he's 82 and still works (for fun).
Personal Finance - 7 Answers
Random Answers, Critics, Comments, Opinions :
1 :
Why would you need to know this? What difference does it make to you? If you're trying to calculate how much of it you'll end up with, be careful - you don't know who he might leave it to. It doesn't necessarily get split evenly among children or grandchildren - he could leave it all to charity if he wants to.
2 :
It is not your business to know. He obviously does not want you to.
3 :
You already know a lot about his finances, if he wanted you to know more, he would tell you. Don't start counting your inheritance, he could dissolve his holdings and sell off his property before he dies, or give it away, or donate it where he likes. It's more important to enjoy your time with him, and be a loving grandchild.
4 :
Leave the old dudes finances alone and enjoy some fun time with him while he is alive. Take him to see a penguin movie, or a pony ride. Ask him what he likes, ask him to tell you everything that he thinks matters. Learn from him and you will both be richer for it.
5 :
You can't determine his net worth without his complete cooperation. Sounds like you're not going to get it. Your grandfather sounds like a smart and wise man. Too bad his granddaughter is greedy and lazy.
6 :
You could ask him and if he thinks you have a need to know he will answer otherwise he will cut you out of his will as a money grubbing grandchild. Better to ask him how he made his money and learn all you can from him about working and investing before you lose the opportunity. Call him, talk with him, visit him and show a real interest in him and in his life.
7 :
1) Find his properties 2) Find his cars 3) Find his companies (Usually it's just one) 4) Find his portfolio It's going to cost you a lot of money to find all that information. It's not worth it. Just go to Harvard and make your own millions.


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