The key to success is to understand the difference between assets and liabilities.
An asset is something that puts money in your pocket. A liability is something that takes money out of your pocket. If you want to be rich, you need to focus on acquiring assets and getting rid of liabilities.
156
1.61K reads
CURATED FROM
IDEAS CURATED BY
10 lessons from Second Chance: for Your Money, Your Life and Our World by Robert. Kiyosaki and Tim Wheeler.
“
Similar ideas to Lesson 2
A liability takes money out of your pocket.
An asset increases the value of your money.
The cash flow patterns of poor, middle-class, and rich people differ based on their assets and liabilities.
Income Sheet:
Income: Money earned from various sources.
Expenses: Mone...
We all love to buy cool gadgets, but Billionaire and Millionaire see it as a waste of money. Here is why? your 20 lakh watch can show the same time a 250 Rs watch can do.
And that is why? We must educate ourself the difference between assets and lialibities.Assets-bring money- you're land...
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
—
100+ Learning Journeys
—
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates