By Phillippe Jackson
May 4, 2018
If you have done any kind of research on building your wealth and becoming financially liberated, then you might have clicked over a few videos with a common title.
“What Rich People Buy That Poor People Don’t”. You might have seen this a time or two in some variation or another.
The answer will always be assets. After reading RDPD, I’ve adopted Mr. Kiyosaki’s definition of an asset. Assets are anything that puts money in your pocket. It’s a very simplified definition of the term and easily applied. Standing opposite of assets are liabilities, which take money out of your pocket. To be financial free, you most grow your assets and allow them to pay for your liabilities.
With the adoption of the basic understanding of the terms, I am fortifying my foundation to create my financial freedom.
I have started training my brain to recognize which is which. For instance, I see a brand new car fully loaded that more than likely has a high monthly payment. That car would be taking money out of my pockets which makes it a liability. Further on down the street, I see a house with a for rent sign. That lease will provide money every month to the owner which would make it an asset.
I would encourage others to do this same exercise. It can be fun and it is so easy to do when it comes to preparing your brain for financial success.
Now that these terms are burned into my brain. My next step is to see how to obtain assets and grow them.
My Mission: Financial Freedom
