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.
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10 lessons from Second Chance: for Your Money, Your Life and Our World by Robert. Kiyosaki and Tim Wheeler.
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A liability takes money out of your pocket.
An asset increases the value of your money.
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Income Sheet:
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