The Balance Sheet Assets VS Liabilities

Hence,

So the Rich Dad says, "If house and car are your biggest "asset", you are in trouble.They are liabilities!

Dictionary:
Asset

1. A useful or valuable thing, person, or quality: "quick reflexes were his chief asset".

2. Property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies: "growth in net assets".

Liabilities

1. The state of being responsible for something, esp. by law.

2. A thing for which someone is responsible, esp. a debt or financial obligation.

2 simple definitions from Rich Dad

Assets :     Things that put money in your pocket monthly, or yearly.

Liabilities : Things that take money from you monthly.

So, what asset do you have?

Me myself got.. er... er.... liabilities =.="

I think this blog will bring in some passive income in the future :)

Because you are reading... hehe..

~~jerryteh