Think about it – if you buy a house that is above your Kiyosaki says that a house is a liability and Kiyosaki focuses a large portion of the chapter on houses,Īnd I think he should, because it really is the age-old debate. What does this mean? It has to be a 2 nd+ property used I’ll let you consider a house an asset…if it’s not yourĪnd still maintain your same quality of life, then it’s an asset. That is just an unrealized gain which is great to understand, but if the housing market crashes and your house is now worth $300,000, what now? Where’s that $300,000 in assets you had? Have you sold your house? No? Then it’s not an asset. Eventually I will plan to sell it and move “But Andy, my house is worth $500,000 right now. I’ve been on the other side of the fence on for most of my life, claiming thatīut what exactly is an asset, again? It’s an income generator. The house debate is one that never goes old and one that Now, my life is more of a “rich” person, where my money follows a different trajectory:ĭo I have some liabilities still? Yes, absolutely. The Doctor Budget has given me a sense of new life and freed me of some of my financial burdens to truly appreciate what I have and plan my future life of financial freedom. I did this by implementing a monthly budget process which you can use as well. What you already paid for, then you will never get out of that hole…ever. If you’re always working just to pay back This is not a lifestyle you want to be in. So only two out of the three I outlined earlier…whoops. Well, I shouldn’t say couldn’t – my financial illiteracy kept me from saving. When I graduated college, I had a great job, lived in a fairly cheap apartment, and still couldn’t save money. I spent so much money on stupid stuff that I would be scared to look at my bank account or credit card statement. You’re earning money, paying your debt, and then blowing the rest of the money. Think about it…if you’re poor and not able to save, thenĪs you can see from a screenshot of Rich Dad, Poor Dad, you’re not ever actually saving anything. Value such as a mortgage, loans or a credit card debt.īuy things that create income and avoid things that cause Examples might be real estate, stocks, bonds,Ī liability is anything that you own that you still owe on or doesn’t have Will hold its value, or even create future value for you. Well, an asset is simply something that you purchase that But that really shows how important that ruleĭifference and make sure you only buy assets. Rule #1: You must know the difference between an asset That you’re properly setup for financial success and man, is it extensive or Kiyosaki has a very extensive list of his rules to make sure
Rich…I guess I should start acquiring some more assets. Hits home – what category do you want to fall into? I don’t know about you, but I want to be That’s a quote that Kiyosaki had in the chapter that also Numbers.” If I heard that once, I heard it a thousand times from my rich dad.Īnd I also heard, “The rich acquire assets, and the poor and middle class “If you want to be rich, you’ve got to read and understand In a year and save $0, then you are one of those three types of people, if not I know, that might sound harsh, but if you spend $500,000+ Well, it’s because they’re either financially illiterate,
0 kommentar(er)
