I think you can count yourself as truly rich when you can start treating money as mainly a flow. The stock-like aspect becomes more a way to keep score in wealth competitions. Hmm. Competitive Wealthing as an Olympic sport.
It’s not 50k net worth. It’s 50k liquid reserves that are easily replenished after say 3-sigma volatility spikes. If it’s 50k in home equity or 401k it doesn’t count. If it’s 50k available credit on cards it doesn’t count.
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But the net worth of the individual I described is in fact $50k. That doesn’t qualify in my opinion (regardless of its form). You need a minimum $1m net worth to qualify (and that’s even iffy). $10m minimum to fully speak your mind.
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You misunderstood. I meant a net worth of 50k is not sufficient, not that having liquid 50k does not count as net worth. That 50k will behave differently depending on how much more non-liquid net worth backs it up.
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