The Money Education
Assets
The things which increase your money.
Liabilities
The things which reduce your money.
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Keep your daytime job, but start buying real assets, not liabilities. Keep expenses low, reduce liabilities, and diligently build a base of solid assets.
ROBERT KIYOSAKI
Maintain a personal balance sheet
It’s a statement wherein you can jot down your assets and liabilities.
- Pull together your bank statements and other proofs of the liabilities
- List down your assets like the bank balance, all investments, home value, and value of other assets.
- Take a sum of all th...
Assets make you rich
The real path to wealth is building assets, not increasing labor income:
- Assets put money in your pocket (e.g., real estate, stocks, businesses)
- Liabilities take money out (e.g., mortgages, car loans, bad debt)
- Weal...
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