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I cannot spend my house. It is an illiquid asset...

Nor can you "spend" a stock, at least without selling it. But you can borrow against both, either via margin or mortgage/home equity line of credit. We just took out a $100K line of credit against our home equity to use as needed.

IIRC, when you go for a mortgage, lenders will also look at stocks and mutual funds as "illiquid."

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