What have i learned today?

Last Update: January 11, 2020

So its 9.50 am in the UK.What have I learned today?

Well, I was listening to an audiobook Rich Dad Poor Dad, Robert T Kiyosaki.

This is a great listen or read if you can find it I would highly recommend it.

So I learned to start off that schools are set up to teach people how to be great employees and not great employers.

But the main thing I have learned is the difference between an asset and a liability this is what makes you different from everyone else as people think there best asset is their home but this is so wrong as it ties up your money from your salary and stops you investing in something that comes along but the main reason is it ties up your money by adding things to the house you spend money on like decorations pictures fittings and fixtures.

so once you understand what an asset is and what a liability is then you are on your way to being successful.

im not going to tell you too much more so you can get the info from the book.

Thanks

Matt

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JeffreyBrown Premium
Matt,

I agree to a point concerning homes as an asset or liability. When I first started my business almost thirty years ago, I was making good money. I still own both my first and second homes outright, along with a commercial property, all paid off way early, so in essence, I consider them assets, but they were liabilities until I paid them off. I don't necessarily like the amount of property taxes that I pay on them, but then, who does?

Nevertheless, those who rent also pay property taxes through higher rents, so no one truly escapes the liability that having a place to live puts on you.

Interesting post.
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Padmas Premium
The Rich Dad Poor Dad is a great book for correcting and transforming our money-related mindset. I agree totally!

After being very good in school, my husband and I learned that we had to so much UN-learning to do, to really see things as they were vs. how we are conditioned to doing from the training at school. That's another reason why we're homeschooling our child.

Great post!

Padma
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lucbizz Premium
I ma surely gonna look for it ,thanks for sharing :-)
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marcho88 Premium
Investor mindset!
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GGould Premium
Hi Matt
I am also a follower of Robert Kiyosaki. He also talks of ESBI. Employed, self employed, Business owners and Investors.
I am employed and an investor at the moment. I am working
Towards self investment to replace my employment
But will always be an investor, both in myself and
Financial investments.
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