4th
March
2007
Own or Hire
posted in General |High net worth individuals like to own the things that appreciate in value [assets] and are easy to maintain and rent everything else [liabilities].
In practice this means that if a possession ‘earns its keep’ it is ‘owned’ otherwise it would be hired or rented.
Typical Assets would be;
- Property
- Gold
- Racehorses
- Super Yachts
Typical Liabilities are;
- Cars
- Electronics