How To Know If You'll Be Rich Or Poor 10 Years From Now
You've probably heard of Robert Kiyosaki's popular book, "Rich Dad, Poor Dad."
I read the book several years ago, and one powerful lesson taught within its pages stuck to me like glue. I'll probably never forget it, because it's just that important for anyone who wants to live a financially abundant life.
According to "Rich Dad", every time you spend money, you're spending it on one of these 3 things...
1) Assets (things that MAKE you money - like rental properties, precious metals, a personal business, etc.)
2) Liabilities (things that COST you money - such as cars, a big house, membership programs, etc.)
3) Doo-Dads (things that don't make you money or cost you money consistently, but simply drain your resources in the moment...like a new TV, $4 coffee drinks, or another pair of jeans).
The lowdown:
Wealthy people become wealthy (and stay wealthy) by spending money on assets.
Poor people become poor (and stay poor) by spending money on doo-dads.
The middle class becomes the middle class (and stays that way) by spending money on liabilities.
Which group are YOU in?
