ARE YOU ONE OF THE 90% OF THE POPULATION LIVING
I recently attended a seminar and had the privilege of listening
to Sharon Lechter. For those of you unfamiliar with Sharon, she
has co-authored several books with Robert Kiyosaki. (If you have
never read any of their books, you are missing a wonderful
resource for learning about financial freedom.)
FACTS: * 90% of the population are living pay check to paycheck
* Many do no have the Financial Education they need to get out
of the rat race * Our educational system does not teach
financial basics and freedom * If you want Financial Freedom,
you have to educate yourself
DEFINITIONS: * Income - Money coming In * Expense - Money going
Out * Asset - Brings Money In * Liability - Sucks Money Out
IS YOU HOUSE AN ASSET? I just gave you a list of definitions.
Based on the definitions, is your house an asset? Does your
house bring money in? I know for myself, that is definitely not
the case! It continually SUCKS money out. It is therefore a
LIABILITY. I know you are going to argue with this logic. I did
the same. Yes, a house typically appreciates in value. Yes, you
will probably make money when you sell your house. BUT, if it is
not a source of income, it is by definition a liability.
What about your other possessions? * Car - liability * Swimming
Pool - definite liability * Boat - liability
Let's think about assets. What assets do you own? Do you have a
savings account? Your savings is an asset. Due to low interest
rates, the income it produces is small. But none the less, it is
an asset. What about stocks, bonds? These are assets. Rental
Properties? Assests.
If your response is: "I'm so strapped that I can't think beyond
paying the bills today." ;you need to educate yourself. You do
not need to be in bondage. Go to the library and read some of
the books by Robert Kiyosaki and Sharon Lechter. (I have other
resources available at WebTechArticles.com.)
I will be writing a series of articles highlighting all the
relevant information I gleaned from this conference. If you are
looking for a 'Get Rich Quick' scheme, look elsewhere. After you
have exhausted you time and resources, come back and learn how
you can gain financial freedom the only way.