Learn to differentiate between assets and liabilities from "summary" of Rich Dad's Who Took My Money? by Robert T. Kiyosaki,Sharon L. Lechter
One of the most crucial lessons in financial education is the ability to distinguish between assets and liabilities. This is a fundamental concept that can have a significant impact on your financial well-being. Assets are things that put money in your pocket, while liabilities are things that take money out of your pocket. It's important to understand that not all possessions are assets. Many people mistakenly believe that their home or car is an asset because it has value. However, if these items are costing you money in the form of mortgage payments, maintenance, and depreciation, then they are actually liabilities. True assets are investments that generate passive income and increase in value over time. Learning to d...
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