Summary: The concept of liquidity is one that very few people understand and appreciate. A $10 bill is about as liquid as it possibly gets – it’s cash, it’s tender, stuff is purchasable with it; it's fully liquid. Let's talk about some of these illiquid assets that you have. How liquid is your house? Could you convert it to cash tomorrow morning? Maybe if it's a condo in the right price area you could sell it really quick and convert it to cash. But generally, that would be an illiquid asset.
