Illiquid Assets and Over-investing in Yourself

MoneyWise

If you’re already living the lifestyle you want, what is the point of liquid assets?

Is there too much risk in tying up the vast majority of your assets?

And more importantly, if you already have far more money than you’ll ever need, what is the purpose in continuing to invest for the future when you could be enjoying that money in the present?

“Dave” is worth about $150 million, yet he lives on a $600,000 salary that doesn’t even cover his monthly spend. Instead of using his existing wealth, he’s keeping most of it tied up in private businesses, angel investments, crypto, real estate, and a very small public portfolio. But why?

“Dave” 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’t have to lift a finger with home chores.

In this episode, “Dave” will walk us through why he’s living this way, how it impacts how he can spend his money, and we’ll get a detailed breakdown of exactly where all of his money is and how much he has access to. He’ll also tell us about his experiment: why he’s running it, what it actually looks like, and how it’s working out.

This 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

Who is Sam Parr?

Sam 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.

This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups.

Chapters:

Dave’s childhood family finances (2:39)

How Dave made his money (4:36)

How much Dave has in liquid vs illiquid assets (7:11)

Dave’s journey to finding confidence (12:22)

Dave’s assets breakdown (17:31)

What Dave’s current income his (20:14)

How he is investing in himself (21:59)

This podcast was produced in partnership with Lower Street and distributed by Morning Brew.

Learn more about your ad choices. Visit megaphone.fm/adchoices