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Assets generate income from "summary" of Rich Dad Poor Dad - What the Rich Teach Their Kids About Money by Robert T. Kiyosaki
Assets are things that put money in your pocket. Liabilities are things that take money out of your pocket. The rich focus on acquiring income-generating assets, while the poor and middle class focus on acquiring liabilities that they think are assets. Understanding the difference between assets and liabilities is crucial to financial success. When you own assets that generate income, you are able to build wealth and create financial freedom. These assets can include real estate, stocks, bonds, businesses, or anything else that produces income for you. By accumulating income-generating assets, you can create a source of passive income that allows you to live life on your own terms. Many people mistaken...
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