Rich people acquire assets and poor people acquire
liabilities says Robert Kiyosaki in his book "Rich Dad, Poor Dad."
It's probably true most of the time.
Acquiring an asset (buying an investment) means your wealth grows with
investment returns. Acquiring a
liability (such as getting a loan to buy a luxury car) means you keep making
payments of principal plus interest on the loan. Assets snowball into more and more
wealth. Liabilities snowball into a
bigger and bigger drain on your paycheck.
Acquire wisely.
- Larry Pike, CFA, Client Priority Financial Advisors LLC
- www.clientpriority.com
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