what does asset rich cash poor mean

Profile picture of the author entry by entry Posted: 03/18/2011
what does asset rich cash poor mean ?

I cant find any clear descriptions online.

  • Profile picture of the author KimW
    KimW
    You have no cash but you have property of some kind.
  • Profile picture of the author QuickSurf
    QuickSurf
    Pretty much it is what exactly it says lol, asset rich but cash poor. I owned a commercial financing company, had plenty of clients who on paper had 10's of millions in assets but showed little income (moreso b/c of how they use tax shelters but you get the idea).

    I.E. person owns 50 million in property, files bankruptcy etc etc, shows doesn't have income to support.. yet they have those "assets".
  • Profile picture of the author Bruce NewMedia
    Bruce NewMedia
    I had a business partner 20+ years ago. On paper he was a multi-millionaire. Owned buildings, land etc. ...Had to borrow money from me regularly to eat lunch. (at Denny's)
    _____
    Bruce
  • Profile picture of the author mediasurgeons
    mediasurgeons
    Originally Posted by brucerby View Post

    I had a business partner 20+ years ago. On paper he was a multi-millionaire. Owned buildings, land etc. ...Had to borrow money from me regularly to eat lunch. (at Denny's)
    _____
    Bruce
    They're is plenty of them out there.

    You can stay in their house in France but they can't buy you a drink
  • Profile picture of the author Bill Farnham
    Bill Farnham
    Originally Posted by jacobjoseph View Post

    You can stay in their house in France but they can't buy you a drink
    I vote for this one...:p
  • Profile picture of the author Alexa Smith
    Alexa Smith
    Originally Posted by Bill Farnham View Post

    Originally Posted by jacobjoseph View Post

    You can stay in their house in France but they can't buy you a drink
    I vote for this one...:p
    Indeed ... I may even be willing to take them a bottle ...
  • Profile picture of the author derekwong28
    derekwong28
    It is mainly property but it could be other sorts of investments as well such as stocks, mutual funds and bonds. Since quite often, there is very little dividend derived.

    But the most typical situation is an expensive property occupied by oneself from which one derives little or no income. Good examples of this would be aristocratic families in Europe with large estates but not enough income to maintain it.

  • Profile picture of the author Bill Farnham
    Bill Farnham
    Originally Posted by Alexa Smith View Post

    Indeed ... I may even be willing to take them a bottle ...
    I'll bring the cork screw...:p
  • Profile picture of the author Dennis Gaskill
    Dennis Gaskill
    Originally Posted by Alexa Smith View Post

    Indeed ... I may even be willing to take them a bottle ...
    Originally Posted by Bill Farnham View Post

    I'll bring the cork screw...:p
    I'll put a log on the fire. What day can I expect you?
  • Profile picture of the author BlueGlobeSeo
    BlueGlobeSeo
    It could mean that your money is tied up on assets (e.g. house, land) but those assets don't earn positive cash flow for you. Or it just means you own a lot of assets but don't have enough cash to go around, i.e little liquid assets.
  • Profile picture of the author GrantFreeman
    GrantFreeman
    "what does asset rich cash poor mean"

    Here's my understanding on this..

    Assets = Rich. You INVEST in assets, which are things that have intrinsic value. In other words, things that grow in value over time. Luxury collectibles, well researched property, gold, silver, jewels, good stock trading choices.

    Online? A domain name can be a very valuable asset if chosen correctly. A website. All have the potential of becoming cash flowing assets.

    (I think lots of people that make websites just to resell them are undervaluing their asset potential. They sell them off way too soon, and miss out on even bigger returns later).

    Cash= Poor. When most people say "cash" they usually mean paper money. Paper money has no intrinsic value because the more money that's printed, the more it depreciates. Racking up a credit card generates interest charges.

    Money is not an asset. You use the money to invest later, in assets that can be traded for more cash than invested.

    If you can learn to see money as a tool, instead of money being wealth, you're on the right track

    Grant
  • Profile picture of the author myob
    myob
    Originally Posted by Alexa Smith View Post

    Indeed ... I may even be willing to take them a bottle ...
    Originally Posted by Bill Farnham View Post

    I'll bring the cork screw...:p
    Originally Posted by Dennis Gaskill View Post

    I'll put a log on the fire. What day can I expect you?

    I'll be in the kitchen rustling up some hors devours; escargot with roasted garlic and mushrooms. Mmmm...
  • Profile picture of the author Dave Patterson
    Dave Patterson
    Originally Posted by myob View Post

    I'll be in the kitchen rustling up some hors devours; escargot with roasted garlic and mushrooms. Mmmm...
    Wonder if that'll work with chicken wings...hmmmm.
  • Profile picture of the author myob
    myob
    Originally Posted by Dave Patterson View Post

    Wonder if that'll work with chicken wings...hmmmm.
    It should work with chicken wings, if you want to bring some along with you. Most likely all the chickens are gone by now, though, and undoubtedly the only things left edible would be snails, mushrooms, and garlic found in the yard outback.
  • Profile picture of the author Bill Farnham
    Bill Farnham
    Originally Posted by myob View Post

    I'll be in the kitchen rustling up some hors devours; escargot with roasted garlic and mushrooms. Mmmm...
    You need to cook those real slow...at a snail's pace to be precise...
  • Profile picture of the author emlydecia
    emlydecia
    I think it means that the one has cashless but he/she have a number of creative thoughts and a shrp mind from which he/she can make money..
  • Profile picture of the author gareth
    gareth
    Unemployed homeless dude in a Ferrari
  • Profile picture of the author Bear157
    Bear157
    Hi all,
    Its mean a person is an owner of large costly property of any kind but don't have a big amount in his bank account.

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