3. Know the difference between ASSETS and LIABILITIES.. - Deepstash
3. Know the difference between ASSETS and LIABILITIES..

3. Know the difference between ASSETS and LIABILITIES..

"An asset is something that puts money in your pocket and a liability is something that takes money out of your pocket,"

Rich people acquire assets (securities and investments) and poor people add liabilities (commitments and obligations).

This is the most significant distinction that can affect an individual's own financial future.

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"If you don’t like to read, you haven’t found the right book."

Reading is a fundamental step when attempting to improve your personal finances.

The idea is part of this collection:

How to Succeed at Investing

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How to create a diversified portfolio

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