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Reply to: Poll: What's your liquid cash reserves?
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Previously on "Poll: What's your liquid cash reserves?"
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Originally posted by Andy2 View Postwhat kind of tulipty contractors have less than £100k in cash
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.Last edited by Fraidycat; 8 June 2021, 21:30.
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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.
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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!
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Just read his story.
Supposed to a contractor and one that knows what he is doing.
Whats the advice about warchests again?
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Originally posted by Whorty View PostYou forgot the 'SAS' option .... "I'm a super rich, mega successful contractor, so have millions sloshing about"
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Originally posted by AtW View PostInspired 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.
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Poll: What's your liquid cash reserves?
16Over £500087.50%14~£40000%0~£30000%0~£20000%0~£10000%0I am Jog On and I have to borrow from illegal cryptobanks for emergencies12.50%2Inspired 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.
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