'Shark Tank' star Kevin O'Leary says you're not rich unless you have $5 million in liquid assets

""You're not rich if it's all tied up in real estate, you're not rich if it's in jewelry and in cars and in boats and all that stuff," O'Leary stated, emphasizing the importance of liquid assets for true wealth."

""The magic number is $5 million in liquid assets," he explained, noting that this amount should yield around 5% a year, providing a safety net for families."

""Securing $5 million in liquid assets is the true definition of success," O'Leary remarked, highlighting the challenges of saving such an amount amidst temptations to spend."

Kevin O'Leary asserts that true wealth requires a minimum of $5 million in liquid assets. He emphasizes that assets tied up in real estate, cars, or jewelry do not count as wealth. O'Leary believes that having sufficient liquid assets provides a safety net, allowing for financial stability in emergencies. He suggests that $5 million can generate about $250,000 annually, which is adequate for a family of four. O'Leary personally maintains this amount in Treasury bills to ensure liquidity.

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