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Choose assets over liabilities from "summary" of Wisdom from Rich Dad, Poor Dad by Robert Kiyosaki
The key to financial success is understanding the difference between assets and liabilities. Assets put money in your pocket, while liabilities take money out of your pocket. Assets are things like real estate, stocks, bonds, businesses, and intellectual property that generate income for you. Liabilities, on the other hand, are things like mortgages, car loans, credit card debt, and other financial obligations that drain your resources. Many people make the mistake of accumulating liabilities instead of assets. They buy expensive cars, houses, and other luxury items that don't generate income. This creates a cycle of debt that can be difficult to break. Instead, focus on acquiring assets that will produce passive income for you. This will allow you to build wealth over time and achieve financial freedom. One way to start building assets is to in...
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