Today's popular author Robert Kiyosaki understands by assets everything that brings income to a person, and by liabilities - that which takes money from you. What is needed in order to acquire these very assets?
Instructions
Step 1
There is one most important rule: you need to acquire assets and get rid of liabilities. It is this rule that will help you become a rich person. But in order to achieve your goal, remember the little things that are extremely important.
Step 2
Clearly define for yourself what is an asset and what is a liability. An asset is something that brings you profit, money, it can also be something that you have now and can bring you profit in the future (you bought something and plan to sell this thing for a higher price).
Step 3
If you own real estate and lease it, it can be considered an asset. Also, an asset can be a stock purchased for a long term. You will be able to receive dividends on shares, besides, the shares of successfully developing companies are growing in price, which means that in a few years you will be able to sell them and get good money. Assets can be considered a deposit in a bank, Units of mutual funds, as well as any other things rented out and making a profit.
Step 4
Please note that with this definition, your apartment or house in which you live cannot be considered an asset, since it does not bring you profit, but on the contrary requires expenses for its maintenance, the same is true with a personal car (unless, of course, you work in a taxi and don't use the machine to make money).
Step 5
Liabilities are anything that takes money away from you. Of course, it is simply impossible to eliminate all liabilities completely, otherwise you will have to significantly lower your standard of living. Just create the right balance between assets and liabilities. This means that you should not strive to acquire all possible luxuries that will be liabilities (you can see many people around who live beyond their means). Know when to stop, do not hang on yourself an excessive amount of loans that will simply pull money out of you.
Step 6
If you want to become a financially literate person, then reduce your liabilities and acquire assets, they will make you rich. Take the example of billionaires, they own stocks, businesses, real estate, in a word, they are the owners of assets. Assets help to achieve financial independence, with their help you will stop working for money, money will work for you.
Step 7
Naturally, wealthy people can afford to maintain such liabilities as huge country houses and expensive cars, but this is because the income from assets allows you to do this in a completely harmless way.
If all your assets are work for hire, and the rest are just liabilities in the form of a bunch of borrowed loans, then it's time to think in which direction you are moving. Perhaps you are walking in a vicious circle: earned - spent.
