Liquidity classes

Liquidity class answers one question: if you needed this value, how quickly could it become usable cash?

It describes access to the position. It does not describe investment quality, risk, or expected return. Classify the position you actually own, with its current account, custody, lock-up, and market conditions.

The classes are categories, not a promise of a fixed number of days.

The six classes

Class	Meaning	Typical examples
Immediate	Spendable now, without selling, settlement, notice, or permission.	Cash, a current account, an instant-access reserve
Short term	Available after a short, predictable delay, without selling in an open market.	A short-notice savings account, a deposit approaching maturity
Market liquid	Can be sold in an active market. The cash you receive depends on price, trading hours, settlement, and costs.	Listed shares, ETFs, publicly traded bonds, crypto
Restricted	Access depends on a date, rule, lock-up, approval, custody arrangement, or penalty.	Pension assets before eligibility, locked shares, funds held in escrow
Illiquid	Requires a negotiated sale or substantial time and effort. The timing and price are uncertain.	Property, a private company stake, private equity, collectibles
Unknown	There is not enough reliable information to classify the position.	Newly entered assets, unusual arrangements, unclear ownership

Unknown is a real category in the app. Keep a position there until you know how you would reach its value.

Choosing between classes

Ask what you would have to do if you needed the money.

• If you can spend it now, choose Immediate.
• If you wait through a known short process without selling, choose Short term.
• If you must sell in an active market, choose Market liquid.
• If a rule or condition controls access, choose Restricted.
• If finding a buyer is the main difficulty, choose Illiquid.
• If you cannot answer with confidence, choose Unknown.

When two descriptions seem to fit, use the first barrier you would meet. A listed investment inside a locked account is Restricted. A property with no separate access rule is Illiquid.

Defaults in the app

The app starts with a useful default for common categories:

• Cash and bank accounts start as Immediate.
• Stocks, funds, crypto, and precious metals start as Market liquid.
• Real estate and vehicles start as Illiquid.
• Loans, liabilities, and manual positions start as Unknown.

Review the default when the way you can access the position differs from its category.