Money and Me: The dangers of being ‘Asset Rich, Cash Poor’
Your Money with Michelle Martin · MONEY FM 89.3
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Show Notes
How much are you willing to give up to live in a bungalow? For some, it might mean their retirement…
Did you know, there is a growing number of distressing predicaments today, faced by retirees who own million-dollar homes, but have insufficient cash savings to meet their living expenses? That’s a term that some of us may describe as ‘asset rich, cash poor’.
So today on Money and Me, Dan Koh invites Elijah Lee, Senior Financial Services Manager, Phillip Securities to discuss how you can avoid the trap of being ‘asset rich, cash poor’, and finding the balance between growing our assets in the long run, while ensuring that we have sufficient cash flow in the short run to meet our financial commitments.
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