Liabilities drain money from "summary" of Rich Dad Poor Dad - What the Rich Teach Their Kids About Money by Robert T. Kiyosaki
Liabilities are something that takes money out of your pocket. For most people, liabilities are the mortgage on their homes, the unpaid balance on their cars, the balance on their credit cards, or the money they owe on their student loans. All of these liabilities require monthly payments, which reduce the amount of money you have available to invest or spend on things that bring you joy.
The problem with liabilities is that they do not generate income. In fact, they do the opposite - they drain money from your pocket. This is why it is crucial to be mindful of the liabilities you take on and to make sure that they are outweighed by assets ...
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