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Know the difference between Assets and liabilities.
Rich dad always say that always know the difference between Assets and liabilities.
Assets which makes money and Liabilities which destroys your money. Wealthy people become more richer because they make assets. while middle class people focus only on liabilities.
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Summary of Rich dad Poor dad!
There was a boy named Robert! he had two fathers, Rich Dad Or Poor Dad! Both dad were very smart and hard working.
Poor dad used to say that we can't afford expensive things. and Rich dad used to say that find the ways to get what you want!
44
574 reads
Why rich people become more richer?
Poor people have a cash flow in which they get income and that money ends up in their needs. Middle people have a cash flow in which they get income and that money ends up in their liabilities and needs. so there are no difference between poor and middle class!
while in the rich pe...
40
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Buy assets not liabilities See
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...
Know the difference between Passive and Active Income
To understand, the difference between passive and active income. Let's understand it by this example- Let's say I'm a teacher of a Government school. I will only get my salary as long as I will keep working. That means, no work, no money. That is active income- It applies to job/service and so o...
Know the difference between leading and doing
Great leaders know the difference between leading and doing.
If a leader gets stuck in the process of 'doing' -- letting their ability rest on being the most effective person for that job instead of clustering more than qualified people for the technical skill -- then ...
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