Rich Dad focuses on assets, not liabilities from "summary" of Rich Dad, Poor Dad by Robert T. Kiyosaki
Rich Dad always stressed the importance of focusing on assets rather than liabilities. He believed that assets were the key to building wealth and achieving financial freedom. According to him, assets were anything that put money in your pocket, while liabilities were anything that took money out of your pocket. Rich Dad taught me that the key to financial success was to acquire as many income-producing assets as possible. He believed that by investing in assets such as real estate, stocks, and businesses, one could create a steady stream of passive income that would provide financial security and independence in the long run. On the other hand, Rich Dad warned against falling into the trap of accumulating liabilities. He believed that liabilities such as expensive cars, designer clothes, and lavish vacations were nothing more than drains on your finances. While these things might provide temporary pleasure or status, they ultimately detracted from your ability to build real wealth. Rich Dad's philosophy was simple but powerful: focus on acquiring assets that generate income, rather than liabilities that drain your resources. By following this principle and consistently growing your asset base, you could gradually increase your wealth and achieve financial freedom. Rich Dad's emphasis on assets over liabilities was a cornerstone of his financial teachings, and a lesson that has stuck with me ever since.
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