Rich dad focuses on acquiring assets from "summary" of Summary - Rich Dad Poor Dad by David De Angelis
Rich dad's philosophy revolves around the idea that one should focus on acquiring assets rather than liabilities. According to him, assets are things that put money in your pocket, while liabilities are things that take money out of your pocket. By acquiring assets, one can build wealth and achieve financial independence.
One of the key points that rich dad emphasizes is the importance of investing in income-producing assets such as real estate, stocks, or businesses. These assets have the potential to generate passive income, allowing one to build wealth over time. In contrast, liabilities such as cars, boats, or expensive gadgets do not generate income and only drain one's finances.
Rich dad believes that by acquiring assets, one can create multiple streams of income, which is essential for achieving financial freedom. He encourages individuals to focus on building a portfolio of assets that ...
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