> The rich keep 10% of their portfolios liquid While it's true most rich do keep a proportion of their portfolio in liquid assets, this doesn't imply cash: >

> The rich keep 10% of their portfolios liquid While it's true most rich do keep a proportion of their portfolio in liquid assets, this doesn't imply cash: > Cash equivalents are typically investments that have short-term maturities of less than 90 days and are considered liquid assets because they can be readily converted to cash. > Stocks and marketable securities > U.S. Treasuries and bonds > Mutual funds > Money-market funds https://www.investopedia.com/ask/answers/032715/what-items-are-considered-liquid-assets.asp https://www.investopedia.com/ask/answers/032715/what-items-a...