The rich focus on assets, not liabilities from "summary" of Rich Dad's Conspiracy of the Rich by Robert T. Kiyosaki
The rich understand that assets are things that put money in their pockets, while liabilities are things that take money out of their pockets. They focus on acquiring assets that generate passive income, allowing them to build wealth over time. By consistently investing in income-producing assets such as real estate, stocks, and businesses, the rich are able to grow their wealth exponentially.
In contrast, the middle class and the poor tend to focus on acquiring liabilities that drain their finances, such as cars, boats, and expensive gadgets. These items may provide temporary pleasure, but they do not contribute to long-term financial stability. Instead of accumulating assets that can generate passive income, they find themselves trapped in a cycle of debt, living paych...
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