The Real Challenge: Earning vs. Keeping Wealth People often say earning money is difficult, but I argue that keeping that hard-earned money is even more challenging. In the 21st century, the number of billionaires continues to rise, with new entrants joining the elite 1% club while existing members retain their wealth. This begs the question: how do the rich stay rich? After all, they aren’t selling companies or launching IPOs every day. They face higher taxes, and their cost of living is astronomical, yet they manage to hold onto their fortunes and remain in the top tier of global wealth. While I can’t fully explain how they initially amass their riches, I’ll explore how they manage to stay wealthy. The Two Major Challenges for the Rich: Non-Liquid Assets and Taxes In my opinion, the rich grapple with two significant challenges: the illiquidity of their assets and the burden of taxes. Most people prefer their assets to be liquid—easily convertible into cash. However, liquid assets oft...