Some moment around $1M in net worth does seem to mark a phase transition between sort of solid and liquid states of wealth (except the terms are flipped, below $1M you're mostly dealing with what we term liquid wealth)
-
-
They have better liquidity with $250k in a house than $250k in privacy company stock, afaict
-
I do forget that not every housing market is San Francisco's
- 4 more replies
New conversation -
-
-
You also sometimes see dislocations around this where people just *don't get* that you can be wealthy and face liquidity shocks (small business owners and startup employees, film at 11), or where class comes into play in determining strategic options folks avail themselves of.
-
Had a conversation with someone recently along the lines of "So when do you intend to sell X?" "Oh, never." "Wait, what do you mean never?" "... Oh good point, I was also the first person in my family to need to know what margin meant, let me give you some things to Google."
- 1 more reply
New conversation -
-
-
In a related but slightly different way, i keep pointing people at Vimes' Boot Theory of Socioeconomical Unfairness. https://en.m.wikipedia.org/wiki/Sam_Vimes#Boots_theory_of_socio-economic_unfairness … There is one of these events happening when you can get holydays without limiting your day to day life.
-
I'm a huge fan of Pratchett in general and the Boots Theory in particular—access to credit *can* be how you get out of its particular trap
- 1 more reply
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.