Rich dad emphasizes assets over liabilities from "summary" of Rich Dad Poor Dad by Robert T Kiyosaki
Rich dad always said, "The rich acquire assets. The poor and middle class acquire liabilities that they think are assets." What he meant was that assets put money in your pocket, while liabilities take money out of your pocket. This concept is crucial to understand if you want to achieve financial success. For example, a house is often seen as an asset by many people. However, in reality, it is a liability because it takes money out of your pocket every month for mortgage payments, taxes, insurance, and maintenance. On the other hand, an investment property that generates rental income is a true asset because it puts money in your pocket every month. Rich dad believed that in order to become wealt...
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