"An asset is something that puts money in my pocket. A liability is something that takes money out of my pocket"
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How to gain financial independence
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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...
Understand the difference between an asset and a liability; and grow your income-generating assets' column.
A consumer spends money and follows trends while an investor puts capital to work and takes advantage of trends.
Chronic consumers often go broke, and persistent investors often get rich.
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