《SO YOU WANT TO BE RICH?》CHAPTER 9 [ASSETS AND LIABILITIES]
Advertisement
If you want to get rich, increase your assets not liabilities. This is the only by which you can become rich sooner and faster. And that's how Kiyosaki made it possible.
That's what he's trying to explain in each and every chapter of Rich dad poor Dad is to increase your assets. That's how he became rich. He started business increasing his assets day to day, once the money from assets became more than from as compared to the business, he made is business an asset, gave it to his friend and he's wealthy now! However he kept increasing assets and them focused on liabilities. So you do the same.
Let's understand with an example.
You bought a house for $800,000. For which you have to pay EMI of $5000 per month. In this way you can complete that EMI in 160 months (4800 days) or 14 years approx. But the bank charges 1.4% of interest annually. So the interest after 14 years will be (14*1.4) = 19.6 or 20% approx.
20% of 800,000=160,000.
$800,000+$160,000= $960,000.
You didn't had money for the interest. You borrowed it from your friend and he also took some interest. Approx Total payment you've to give is $1m or $1000,000.
But then what if you bought that house for $800,000 and gave it rent for 14 years at $6000 monthly. You pay $5000 each month to bank as EMI and get $6000 from the person living in your house. You simply get profit of a thousand dollars every month. After 14 years. You'll get profit of $420,000+ your new home of $1m or $800,000 [No interest].
You got profit+ your home. [That's how it's done]
Rich people use thinking and mind, they use other people's money for their benefit without any loss of the person!
Advertisement
You can buy a Lamborghini for that $420k! Because that's your own thinking which brought you this!
House+Lamborghini= $1m
House+Lamborghini= $1.42m
[That's why financial IQ and learning to invest money is important]
These subjects aren't taught in school. If they knew the secret, your school teacher would come everyday in a Ferrari and not by school bus or a $500 scooter.
Think great and think rich, that's how you can be rich. Kiyosaki did the same and bought a house to live with his porche.
‘It's easy and I can do it!’ ‘If he can, why can't I?’ Motivate yourself saying these words everyday and I bet success!
Advertisement
- In Serial80 Chapters
Magic Trick
I’m Trick and I’m a mortal who meets a cute guy named Fei Xing in my boring day job as a barista, and surprisingly, he’s a sorcerer. He’s gonna turn me into one of them, but the only way to become one is to drink his… man-juice.
8 315 - In Serial47 Chapters
The Empty Valley Cries Unheard
The stories can be read at any order. Phew, this story was finally finished at last! What could I say, it was a hell of a ride when I wrote it from the beginning to end. Thanks for having me on RR :D All the current chapter had already done a run on Grammarly, so hopefully it'd be more readable. ...kinda feeling lazy so calling off the edits for now. A couple of old / new attempts of combining Horror, Comedy and Absurdist elements. I'm not very good at writing Horror stories but I'd like to try once in a while. Although the first chapter may be completely screwed up, believe me--I mostly write fluffy gay scenes between two girls. It would PROBABLY become a lot lighter as we moved up the chapter count. Not for the faint of heart, but if you're like me who like some absurd or nonsensical stories, this might be right up your alley. Sorry in advance if some of the chapters seem normal lol additional tags : nonsense / absurd / parody
8 199 - In Serial11 Chapters
Empire of Death Saga: How A Sword changed my Life
This is a work of Fiction, Nothing in the following chapters are real stories. I always to write a light novel as a story and here it is: Takeo, a gifted boy, with a true talent when it comes to sword fighting. He is a high-schooler, who is looking forward to a sword-fighting career or to practice it as a hobby. His life takes a big twist after finding out that his great possession, his sword is wanted by the apprentices of Yomi, the death. Takeo is ready to protect his great possession for the good of others.
8 71 - In Serial27 Chapters
D3 The Mighty Ducks (LUIS MENDOZA)
Having achieved a modicum of fame from their earlier adventures, all the members of the Mighty Ducks hockey team are awarded scholarships to a prestigious prep school. But they must now play in the school's uniforms and renounce their freewheeling style for the more disciplined approach of their new coach, Ted Orion. After star player Charlie quits the team, their old coach, Gordon Bombay , must return to reinvigorate the Ducks' spirit.
8 106 - In Serial51 Chapters
My Mother Runs With Wolves
A genetically unique but emotionally lost teenager must figure out who she is within her mixed-up, warring world of Shifters and Wolfstalkers. *****It wasn't Maddie's choice to be born a half-breed, half Shifter, half Wolfstalker -- a hunter of Shifters -- and it wasn't her choice to keep her identity a secret. But after trying to attend high school like any normal sixteen-year-old, things quickly spiral south when her Stalker uncle finds out about her and catapults her out of anonymity and into the awareness--or possibly the crosshairs--of The Order of the Wolfstalker. Maddie must think fast and figure out a way to keep herself and her family safe, or risk losing everything. Including her life.[[word count: 70,000-80,000 words]]
8 86 - In Serial18 Chapters
Don't test me (chaeryeong x reader)
Basically, like Pirates of the Caribbean...Started: April 14thDISCONTINUED
8 205

