You’re not really rich until you have £16m of liquid assets

[Graphics789]

An old article that puts a lot into perspective.

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Entrepreneur Felix Dennis has some novel ideas about what constitutes being rich.

In his book, Dennis (net worth £500m) categorises richness as follows:

Comfortably poor: £50k-£199k in liquid assets; £1m-£2m in total assets

Comfortably off: £200k-£499k in liquid assets; £3m-£4m in total assets

Comfortably wealthy: £500k-£999k in liquid assets; £5m-£15m in total assets

Lesser rich: £1m-£5m in liquid assets; £16m-£39m in total assets

Comfortably rich: £6m-£15m in liquid assets; £40m-£74m in total assets

Rich: £16m-£35m in liquid assets; £75m-£99m in total assets

Seriously rich: £36m-£49m in liquid assets; £100m-£199m in total assets

Truly rich: £50m-£100m in liquid assets; £200m-£399m in total assets

Filthy or super rich: Over £100m in liquid assets; over £1bn in total assets

[standardpostage]

I must be poor   

I'm not even on that list 

But I can pay my bills,

and have a punt now and again

[PilotMan]

Despite Felix Dennis being very wealthy, he still didn't make enough money to prevent him from dying from throat cancer 

And it didn't make him truly happy as he lamented...

"But there is a price for wealth. Maybe you have to sacrifice family and friends, he said. If your friends aren't part of your world, you may have to drop them. Being rich may mean being lonely and mistrustful – accept that."

[allroadboy]

To be fair to Felix he led one hell of a life, did some serious quantities of booze and drugs and had a harem of the top working girls on his books. I knew one of his girls very well and he looked after her extremely well but on the odd ocassion he said jump, her only reply was "how high". It's rumoured he spent 100 million on booze, drugs and hookers. His wealth kept him alive a long time after mere mortals would of passed away !

[PilotMan]

It's rumoured he spent 100 million on booze, drugs and hookers.

And he wasted the rest of his money 

[Graphics789]

"But there is a price for wealth. Maybe you have to sacrifice family and friends, he said. If your friends aren't part of your world, you may have to drop them. Being rich may mean being lonely and mistrustful – accept that."

I love this quote as it is brutally honest.

I am too young to have known of Felix Dennis during his years on his earth, but I have read his books.

At my young age, I have come to the realisation I will have to sacrifice my friends, family and even happiness to achieve the things I want in life and to be the best in my industry.

It is a bit sad to think this way, but it is a deep rooted, unconscious irrational feeling. I wish I could be happy with an ordinary life, but even after making 6 figures, I still look at the hedge fund billionaires in my industry and I have this inner compulsion to be at their level and even surpass them at some point.