Poll: What's your liquid cash reserves?

[NigelJK]

I think the vote is skewed. It should be 'How long would your warchest last?'

[AtW]

He died filthy rich.

So did not do particularly well?

[Fraidycat]

what kind of tulipty contractors have less than £100k in cash

One richest person i knew (distant family member) kept a constant overdraft in his business account.
The overdraft had a low interest rate because it was secured against property.
Plus he could write the overdraft interest against tax as well, so it was even cheaper.
He was always invested, he never held any fiat in his business account.

Fiat is a depreciating asset.
He died filthy rich.

[Paddy]

I have 200,000,000 Reichsmarks.

[NotAllThere]

I've not had less than about £20K in cash for decades. It's sufficient to cover all emergencies. The rest is in investments - some riskier than others, some more readibly avalable than others.

I wouldn't dream of spending 5K a month on fine wines. Which is why I'm richer than sas. Rich people don't spend it - hence stay rich.

[d000hg]

what kind of tulipty contractors have less than £100k in cash

Ones who haven't been doing it very many years? Those who have invested it in other things?

[Andy2]

what kind of tulipty contractors have less than £100k in cash

[vetran]

Where is the "I have incriminating pictures of Nuttina & aTw so he sold his sofa to pay for my hernia op" option?

£5K wouldn't fill the Bentley's internal bar!

[courtg9000]

Just read his story.
Supposed to a contractor and one that knows what he is doing.
Whats the advice about warchests again?

[AtW]

You forgot the 'SAS' option .... "I'm a super rich, mega successful contractor, so have millions sloshing about"

sas was (obviously) poorer than me, but he was and most certainly still is independently wealthy - most likely he spends 5 grand a year on fine wines.

[Whorty]

Inspired by Jog On's life story here -

https://forums.contractoruk.com/gene...ml#post2883958

I intentionally put a very low maximum so that people feel safe to answer.

You forgot the 'SAS' option .... "I'm a super rich, mega successful contractor, so have millions sloshing about"

[AtW]

Inspired by Jog On's life story here -

https://forums.contractoruk.com/gene...ml#post2883958

I intentionally put a very low maximum so that people feel safe to answer.