“Liquid” assets

[Teacher Terry]

Wow hard to imagine being that old and that bad with money .

[iris lilies]

Wow hard to imagine being that old and that bad with money .

We have named her in our will along with a couple other people and several organizations. But, I have not mentioned that to her because it is highly unlikely she will see any of our money. And it worries me that she would count on some of that money. She blew through two inheritances and then told me she should get her brother’s share because it will just go to his children anyway when she dies. I was so shocked to hear this I said nothing.

[iris lilies]

I should also add that I see nothing wrong with having a second home that is a vacation home as long as one acknowledges that it eats money. To consider a vacation home that never produces income as an investment is silly, but part of her problem is she’s from the coast where real estate always appreciates even if you are an owner-idiot, while here in flyover country things don’t appreciate much.

[Teacher Terry]

Having lived in many Midwest states I know what you mean. Our house in Wichita was bought brand new in 1994 for 84k. Only worth 134k now. Where we live now house prices are skyrocketing. A friend of mine has a parent that is 88 and terrible with money.

[iris lilies]

For me liquid is I can have it in hand today. It takes several days to get your hands on investment monies. We keep about $135k liquid. The rest would take up to a week to get in our hands.

DH Would agree with you.

[Gardnr]

I should also add that I see nothing wrong with having a second home that is a vacation home as long as one acknowledges that it eats money.

I suppose it depends on your definition of "eats money". Our 2nd home cost us $447/month last year for a total of $5364. And for us that is all in: prop tax, insurance, wood pellets, utilities, snow removal any maintenance/replacement items.

[dado potato]

A house, or land, or other real estate would not be "liquid".
Marketable securities or mutual funds in a 401(k) would be "liquid".


Next, what is money? Cash is money. Marketable securities or mutual funds in a 401(k) are not money.

[Chicken lady]

Time is money

actually, I think it was jp who used the word “liquidated” about the 401k? I’d say anything that has to be liquidated before it can be used is not “liquid”.

[Teacher Terry]

G, as much as you use your cabin it’s well worth the money. My FIL owned one a half hour from where we lived and we rarely used it. He wanted to give it to us but we declined even though it was right on a lake. Now we prefer traveling to different places.