Wealth tip of the week: Let your assets pay for your lifestyle
Robert Kiyosaki, the author of ‘Rich Dad, Poor Dad’, says wealthy people focus on buying assets, while others often spend their money on things they believe are assets but actually cost them money. An asset is something that can increase in value or make you money over time. Examples include shares, bonds, businesses, property, gold […] The post Wealth tip of the week: Let your assets pay for your lifestyle appeared first on The Namibian.
Black News 
Robert Kiyosaki, the author of ‘Rich Dad, Poor Dad’, says wealthy people focus on buying assets, while others often spend their money on things they believe are assets but actually cost them money.
An asset is something that can increase in value or make you money over time.
Examples include shares, bonds, businesses, property, gold and other investments.
A liability, on the other hand, takes money out of your pocket. Examples include car loans, credit card debt and other debts.
The goal is to build your assets first and let them help pay for your expenses.
For example, instead of using all your extra income to buy an expensive car, you could invest some of it in shares or a business. As your investments grow, they can eventually help you afford the things you want.
Your net worth is simply: assets − liabilities = net worth
The basic rule is simple: Build more assets, reduce unnecessary debt, and let your money work for you.
The post Wealth tip of the week: Let your assets pay for your lifestyle appeared first on The Namibian.
