Thursday, 26 May 2011
Why the Rich gets Richer?
Hope this will explain.
From Rich Dad
"Rule One. You must know the difference between an asset and a liability, and buy assets. If you want to be rich, this is all you need to know. It is Rule No. 1. It is the only rule. This may sound absurdly simple, but most people have no idea how profound this rule is. Most people struggle financially because they do not know the difference between an asset and a liability."
"Rich people acquire assets. The poor and middle class acquire liabilities, but they think they are assets"
Now we know putting in 20% of income to car, another 30% to house isn't smart.
~~jerryteh
Labels:
Book 2.5 : Rich Gets Richer
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