WHY EVERYONE SHOULD HAVE AN ASSET?

Lance Clarete

“If I stop working, are my savings enough? How long am I going to survive with these savings?”
Have you ever asked yourself any of these questions? If not, well, consider that question better.
And also, I’m pretty sure you’re on the right track to finish this article.
What's his secret? Simple, ASSETS.
Let me use a rich person who can help you to reflect on the question – Robert Kiyosaki. He is one
of the most successful human beings in the business sector. He
Asset is any resource owned by the business. Anything tangible or intangible that can be owned
or controlled to produce value and that is held by a company to produce positive economic value
is an asset. Simply saying, something that puts money inside your pocket.
Those individuals above are some examples of the richest human beings in the business sectors,
like Steve Jobs, Jeff Bezos, Jack Ma, and Robert Kiyosaki. In this article, let me use Robert
Kiyosaki’s book “Rich Dad Poor Dad” to let you understand clearly the need for everyone to own
assets.
Robert Kiyosaki's book clearly explained the difference between the asset and the liability. An
asset is any resource owned by a company. Any tangible or intangible object which may be owned
or controlled to generate interest and which is kept by a corporation to produce positive economic
value is a property. Simply say, there's something that puts money in your pocket. A liability, on
the other hand, is a future obligation. In other words, while you're earning money, it's taking money
out of your pocket. So, their secret, rich individuals, is that they need to acquire assets. The poor
and the middle classes are taking on liabilities.

Let me help you understand more by showing you this table.

An asset is any resource owned by a company. Any tangible or intangible object which
may be owned or controlled to generate interest and which is kept by a corporation to
produce positive economic value is a property. Simply saying, there's something that
puts money in your pocket.

Now, do not confuse yourself with assets and liabilities. The primary cause of financial
struggle is simply not knowing the difference between the two. A liability, on the other
hand, is a future obligation. In other words, while you're earning money, it's taking
money out of your pocket. So, their secret, rich individuals, is that they need to acquire
assets. The poor and the middle classes are taking on liabilities
Let me help you understand more by showing you this table.
Now, I think you're close to seeing a clearer picture of everyone's need to own assets.
Now, I think you're close to seeing a clearer picture of everyone's need to own assets. To dig
deeper into the question "Why everyone should have an asset," let me present to you a cash flow
pattern of an individual on both sides.
(Now, I think you're close to seeing a clearer picture of everyone's need to own their assets. To
dig deeper into the question "Why should everyone have an asset," let me give you an individual's
cash flow pattern on both sides.)
Let's think of an individual having his/her income. The income of that individual proceeds
immediately to expenses, like cars, entertainments, foods, and much more, then that means
he/she doesn't have an asset. But, remember, he/she does have liabilities, like mortgages, taxes,
and loans.
On the other side, instead of using immediately his/her income for his expenses, he/she bought
and owned assets to bring back the money from his income, and receive money more passively.

On the other hand, instead of immediately using his / her income for his / her expenses, he / she
bought and owned assets to get the money back from his / her income and to get the money more
passively.