segalm

Sorry for the confusion.
I will try to be more explicit- When drafting the “Liquidity” Section of the IPS, one should only include liquidity requirements that need to be covered by the Portfolio only. It should not include expenses that will be paid out of employment income. The art sales in that case is an annual income and is not part of the portfolio.
So ongoing liquidity requirements should be 132,500 less 50,000.