Guide · Other assets
When an asset becomes spendable money
An asset counts towards spending only once you plan to sell it, and after selling costs and any tax.
Until then it counts towards wealth, not money you can spend.
Liquid and illiquid assets
Savings and investments are liquid: the forecast can use them for spending. Property, cars, jewellery, art and other possessions are illiquid. They count towards net worth but never pay for retirement spending unless you plan a sale.
Buying and selling
A future purchase leaves your savings once, in the year you buy. Paying cash for something worth what you paid moves money into the asset without changing your net worth.
A planned sale removes the asset and any finance linked to it in the same year. The proceeds, after selling costs and repaying that finance, are added to your savings once.
Net worth, retirement and legacy
The Financial assets view shows what can fund spending. The wider view adds property and possessions after the debts linked to them.
What you leave behind includes possessions you still own, less linked finance. Inheritance Tax is estimated on the whole estate where the plan supports it.
Explore in your plan
Related guides
Sources
These sources haven’t had a dated review recorded for this guide yet. Rules can change, so check the linked pages.
FLYNQD provides planning illustrations and general information, not personalised financial advice. Forecasts depend on the figures and assumptions used.