The rich remain rich because they own assets.


The middle class remains middle class because they own liabilities they call assets.
The poor remain poor because they only accumulate expenses.
A car is not an asset. It depreciates in value.
A home you reside in is debatable. It involves a constant outlay.
A business, an investment portfolio, intellectual property—that's what assets are.
The vast majority never internalize this difference. And it costs them a fortune not to do so.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin