Illiquid Assets and Over-investing in Yourself
b"If you\\u2019re already living the lifestyle you want, what is the point of liquid assets?\\nIs there too much risk in tying up the vast majority of your assets?\\nAnd more importantly, if you already have far more money than you\\u2019ll ever need, what is the purpose in continuing to invest for the future when you could be enjoying that money in the present?\\n\\u201cDave\\u201d is worth about $150 million, yet he lives on a $600,000 salary that doesn\\u2019t even cover his monthly spend. Instead of using his existing wealth, he\\u2019s keeping most of it tied up in private businesses, angel investments, crypto, real estate, and a very small public portfolio. But why?\\n\\u201cDave\\u201d is in the early stages of an experiment where he massively over invests in himself, just to see what he can do. That also includes hiring a personal team so he doesn\\u2019t have to lift a finger with home chores.\\xa0\\nIn this episode, \\u201cDave\\u201d will walk us through why he\\u2019s living this way, how it impacts how he can spend his money, and we\\u2019ll get a detailed breakdown of exactly where all of his money is and how much he has access to. He\\u2019ll also tell us about his experiment: why he\\u2019s running it, what it actually looks like, and how it\\u2019s working out.\\nThis is Moneywise, a podcast where host Sam Parr is joined by high-net-worth guests to explore exclusive insights into personal finance and lifestyle tailored for other high-net-worth people, or those on their way. They'll get radically transparent about the numbers, revealing things like their burn rates, portfolios, and spending habits\\nWho is Sam Parr?\\nSam is a serial entrepreneur and the co-founder of The Hustle, which he sold to HubSpot in 2021. He's also the co-host of one of the world's top podcasts for entrepreneurs, My First Million. Known for his insightful business acumen and candid communication style, Sam Parr continues to be a prominent figure in the world of media and entrepreneurship. Sam's newest and biggest venture yet is Hampton, which he co-founded in 2022.\\nThis podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups.\\nChapters:\\nDave\\u2019s childhood family finances (2:39)\\nHow Dave made his money (4:36)\\nHow much Dave has in liquid vs illiquid assets (7:11)\\nDave\\u2019s journey to finding confidence (12:22)\\nDave\\u2019s assets breakdown (17:31)\\nWhat Dave\\u2019s current income his (20:14)\\nHow he is investing in himself (21:59)\\n\\nThis podcast was produced in partnership with Lower Street and distributed by Morning Brew.\\nLearn more about your ad choices. Visit megaphone.fm/adchoices"