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Old 09-30-2010, 09:51 PM
 
Location: The Greater Houston Metro Area
9,053 posts, read 17,201,105 times
Reputation: 15226

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Quote:
Originally Posted by LizzySWW View Post
Those sound like nice old balls, try selling them on EBay. Then YOU can belong to the Houston Millionaire's Club!
Which pair are you talking about, Lizzy?
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Old 10-01-2010, 09:49 AM
 
Location: Houston/Brenham
5,819 posts, read 7,235,127 times
Reputation: 12317
Quote:
Originally Posted by Texas User View Post
Its not liquid like stocks, real estate. How fast can you sell that?
There are liquid assets, and non-liquid assets. Your original statement was "X aren't assets". They are. What you mean is they aren't LIQUID assets. And BTW, real estate is not considered a liquid asset.

Quote:
Originally Posted by Texas User View Post
I am just curious in general. Aren't some stuff public for others to see how much they are worth?
Mostly, no. There is no way to see someone's balance sheet unless they publish it (like a politician). You can see what property they own, but that can take a detailed search. And even then it can be difficult to tell what they may owe on it. Plus you have cash, CDs, bonds, mutual funds, private holdings, partnerships, etc etc. There is NO WAY to tell how much someone is worth.

If someone is a significant shareholder in a public company, you can do the math and see what that's worth. But again, this is the exception. And it doesn't tell you what other assets they own.

Quote:
Originally Posted by Texas User View Post
What if they put a big down?
As has been pointed out, makes no difference. Big houses are not just a purchase, they are an ongoing expense. Taxes, utilities, maintenance, etc. You could pay CASH for a mansion, but without income to sustain it...

Quote:
Originally Posted by Texas User View Post
For Someone who has been saving 50% his/her income making $60K a year for 20 years is possible.
Nope, see my answer above.
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Old 10-01-2010, 11:34 AM
 
12,671 posts, read 23,811,078 times
Reputation: 2666
Its much easier to sell a home then these antiques (disposable items).

They got Buffett's and Gates net worth. Infact they have all the billionaire's net worth in Fortune Mag.



Quote:
Originally Posted by astrohip View Post
There are liquid assets, and non-liquid assets. Your original statement was "X aren't assets". They are. What you mean is they aren't LIQUID assets. And BTW, real estate is not considered a liquid asset.


Mostly, no. There is no way to see someone's balance sheet unless they publish it (like a politician). You can see what property they own, but that can take a detailed search. And even then it can be difficult to tell what they may owe on it. Plus you have cash, CDs, bonds, mutual funds, private holdings, partnerships, etc etc. There is NO WAY to tell how much someone is worth.

If someone is a significant shareholder in a public company, you can do the math and see what that's worth. But again, this is the exception. And it doesn't tell you what other assets they own.


As has been pointed out, makes no difference. Big houses are not just a purchase, they are an ongoing expense. Taxes, utilities, maintenance, etc. You could pay CASH for a mansion, but without income to sustain it...


Nope, see my answer above.
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