The Secret Your Banker Hopes You Never Find Out About!
Here's a little story.
It's about a woman who is in her forties and very rich. She's a multi-millionaire, who never has to work another day in her entire life.
Recently, she was interviewed on a radio show where she revealed how she had become so rich.
She's an accountant who knows something totally different from most other accountants. She knows the real secret behind assets and liabilities.
She follows a simple truth about assets and liabilities that has made her rich, and if you follow this same truth then it can make you rich too.
The rule is this:
"Assets put money IN your pocket, while liabilities take money OUT of your pocket."
Sounds simple enough, right?
Well, you'd be surprised how many people, and even accountants, don't understand or follow this powerful truth.
Here's how important this principle can be...
Most people who own their home believe that their home is an asset. What they don't understand is that it's not THEIR asset, it's their mortgage lender's asset!
Every month when they make their mortgage payment, they have to take money OUT of their own pocket to pay it.
That payment money then goes IN the pockets of their bank or financing company.
If we look back at the truth about assets and liabilities:
"Assets put money IN your pocket. Liabilities take money OUT of your pocket." Now if the money is going OUT of the home owner's pocket each month that means the home is a LIABILITY.
And since it's going IN the pockets of the financing company, then it IS an asset, but it's an asset for THEM!
The woman I referred to earlier has many, many assets that continually put money IN her pockets. She has more money coming into her pockets through true assets than money going out of her pockets from liabilities.
If YOU follow this same principle of acquiring true assets that bring in more money than you spend on liabilities, then YOU too will find yourself rich enough to never have to work again.
Understanding this truth is the biggest cornerstone of all wealth. I suggest reading this section over again until you fully understand the principle of wealth.
* * * * *
It's about a woman who is in her forties and very rich. She's a multi-millionaire, who never has to work another day in her entire life.
Recently, she was interviewed on a radio show where she revealed how she had become so rich.
She's an accountant who knows something totally different from most other accountants. She knows the real secret behind assets and liabilities.
She follows a simple truth about assets and liabilities that has made her rich, and if you follow this same truth then it can make you rich too.
The rule is this:
"Assets put money IN your pocket, while liabilities take money OUT of your pocket."
Sounds simple enough, right?
Well, you'd be surprised how many people, and even accountants, don't understand or follow this powerful truth.
Here's how important this principle can be...
Most people who own their home believe that their home is an asset. What they don't understand is that it's not THEIR asset, it's their mortgage lender's asset!
Every month when they make their mortgage payment, they have to take money OUT of their own pocket to pay it.
That payment money then goes IN the pockets of their bank or financing company.
If we look back at the truth about assets and liabilities:
"Assets put money IN your pocket. Liabilities take money OUT of your pocket." Now if the money is going OUT of the home owner's pocket each month that means the home is a LIABILITY.
And since it's going IN the pockets of the financing company, then it IS an asset, but it's an asset for THEM!
The woman I referred to earlier has many, many assets that continually put money IN her pockets. She has more money coming into her pockets through true assets than money going out of her pockets from liabilities.
If YOU follow this same principle of acquiring true assets that bring in more money than you spend on liabilities, then YOU too will find yourself rich enough to never have to work again.
Understanding this truth is the biggest cornerstone of all wealth. I suggest reading this section over again until you fully understand the principle of wealth.
* * * * *
posted by Bob Moser at
7:02 PM
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