asset

An asset is something that puts money into your pocket, a liability is something that takes money out of it (Robert Kiyosaki). Important to know for FIRE!

Technically, you can have depreciation assets, like cars or machinery or whatever, that can still be sold for money. However, for financial independence purposes, it’s helpful to think about assets in the Robert Kiyosaki way.

If it doesn’t grow in value, generate an income or give you opportunity to earn more money, it’s not an asset – it’s a liability.

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