Tag: Most people remain in the “rat race” because they acquire liabilities they believe are assets

6 laws of money the rich OBEY (and you were never taught)

6 laws of money the rich OBEY (and you were never taught)

The foundational law of wealth is understanding the difference between an asset and a liability. An asset puts money in your pocket (e.g., rental properties, dividend stocks, businesses), while a liability takes money out (e.g., mortgages, car loans, credit card debt).  Most people remain in the “rat race” because they acquire liabilities they believe are assets, such as a …

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