what does asset rich cash poor mean

KimW

13 years ago

You have no cash but you have property of some kind.

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QuickSurf 13 years ago

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".
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Bruce NewMedia

13 years ago

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)
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mediasurgeons

13 years ago

Originally Posted by brucerby

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)
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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

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Bill Farnham 13 years ago

Originally Posted by jacobjoseph

You can stay in their house in France but they can't buy you a drink

I vote for this one...:p
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- Alexa Smith Banned 13 years ago
  
  Originally Posted by Bill Farnham
  
  Originally Posted by jacobjoseph
  
  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 ...
  
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  Bill Farnham 13 years ago
  
  Originally Posted by Alexa Smith
  
  Indeed ... I may even be willing to take them a bottle ...
  
  I'll bring the cork screw...:p
  
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  Dennis Gaskill 13 years ago
  
  Originally Posted by Alexa Smith
  
  Indeed ... I may even be willing to take them a bottle ...
  
  Originally Posted by Bill Farnham
  
  I'll bring the cork screw...:p
  
  I'll put a log on the fire. What day can I expect you?
  
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  BlueGlobeSeo 13 years ago
  
  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.
  
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derekwong28

13 years ago

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.

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GrantFreeman

13 years ago

"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

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myob 13 years ago

Originally Posted by Alexa Smith

Indeed ... I may even be willing to take them a bottle ...

Originally Posted by Bill Farnham

I'll bring the cork screw...:p

Originally Posted by Dennis Gaskill

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...
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- Dave Patterson 13 years ago
  
  Originally Posted by myob
  
  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.
  
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  myob 13 years ago
  
  Originally Posted by Dave Patterson
  
  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.
  
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- Bill Farnham 13 years ago
  
  Originally Posted by myob
  
  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...
  
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