Liabilities take money out from "summary" of Rich Dad Poor Dad (Kannada) by Robert Kiyosaki
The concept of liabilities taking money out is a critical one to understand when it comes to building wealth. Liabilities are things that you owe money on, whether it's a car loan, credit card debt, or a mortgage. These are things that take money out of your pocket every month, rather than putting money in. Many people mistakenly believe that owning a big house or driving a fancy car is a sign of wealth. However, if these things are financed through loans or credit, they are actually liabilities that are draining your financial resources. The more liabilities you have, the harder it becomes to build wealth because you are constantly having to use your income to pay off debts. On the other hand, assets are...
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