![]() ![]() There are also tons of videos on YouTube that are educational and free watch to watch. If you’re more of an audio person, can also listen to audio-books ( here's a link to a free audio book). If books are expensive, buy a used copy or go to a library. There are multiple ways people can invest in education. “90 percent of the population buys TV sets and only about 10 percent buy books on business or tapes on investments,” says Kiyosaki. Kiyosaki says that the mind is the only real asset people have, and the most powerful tool in our domain.Įveryday people have the choice of whether to watch TV, play video games, or read a book. See the difference? One person lost $30K while the other made $30K.īefore making investments in assets, the first investment should be in education. However, if the person took that same $20,000 and put it into the stock market and earned 10% each year, they would now have over $30,000 in their account. A car bought for $20,000 may end costing $30,000 or more after five years of insurance payments, fuel costs, and other related expenses. Also, the more a person drives a car, the more it decreases in value. There’s also fuel costs and yearly check-ups. Then there’s car insurance, license plates, and registration costs. With a regular car, as soon as you drive off the dealer's lot, it automatically decreases in value. Many people believe a car is an investment, but this is only true in rare cases, such as if it is a collectible or limited edition. Liabilities can be anything from home mortgages, consumer loans, credit cards, or a new car, furniture or appliance when the old one works fine. Liabilities, on the other hand, drain money from your pockets. And anything that has value, produces income or appreciates and has a ready marketĪll assets have one thing in common, they will make you more money.Royalties from intellectual property such as music, scripts, patents.Businesses that require little oversight.Here’s what Kiyosaki’s rich dad considers to be an asset: The rule sounds simple, yet many people, especially the middle and poor class, confuse the two groups. ![]() The main difference between an asset and liability is that an asset makes money, while a liability loses money.
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