Do you buy assests or Liabilities?

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  • SleazyDream
    I'm here for SPORT
    • Jul 2001
    • 41470
    #1

    Do you buy assests or Liabilities?

    Frame of thought - when you buy stuff - do you buy assets or liabilities?


    Better yet - do you buy liabilities that you tell yourself is an asset?

    examples of typical liabilities that many think are assets

    you car
    the house you live in
    your boat
    your moterbike
    cloths
    jewlry



    So what do you buy when you buy things? Assets or liabilities?
    This dog, is dog, a dog, good dog, way dog, to dog, keep dog, an dog, idiot dog, busy dog, for dog, 20 dog, seconds dog!

    Now read without the word dog.
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    • Sly
      Let's do some business!
      • Sep 2004
      • 31377
      #2
      Have you been reading Rich Dad Poor Dad?

      I buy liabilities to help enjoy life, assets to make more money. Weee!
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        • Doctor Dre
          Too lazy to set a custom title
          • Jan 2001
          • 51692
          #3
          I try to buy assets as much as possible nowdays.
          Originally posted by rayadp05
          I rebooted, deleted temp files, history, cookies and everything...still cannot view the news clip. All I see is that fucking gay ass music video from "Rick Roll". Anyone else have a different link to the news clip?

            Comment

            • wdforty
              Confirmed User
              • Jul 2004
              • 1824
              #4
              Rich Dad Poor Dad
              icq 157542142

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                • SleazyDream
                  I'm here for SPORT
                  • Jul 2001
                  • 41470
                  #5
                  Originally posted by Sly
                  Have you been reading Rich Dad Poor Dad?

                  I buy liabilities to help enjoy life, assets to make more money. Weee!
                  ask DH - I have read that book but I honestly thought like this before reading it.


                  posting cause a friend told me my house was an asset today. I've never sceen it as such - don't get me wrong - LOVE this place - but I just see it as a money pit asset wise
                  This dog, is dog, a dog, good dog, way dog, to dog, keep dog, an dog, idiot dog, busy dog, for dog, 20 dog, seconds dog!

                  Now read without the word dog.

                    Comment

                    • Morgan
                      Too lazy to set a custom title
                      • May 2002
                      • 10520
                      #6
                      all of the above.

                      stealing that stuff will just get you into trouble.
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                        • wdforty
                          Confirmed User
                          • Jul 2004
                          • 1824
                          #7
                          The house you live in would be seen as an asset if you sold it for more than you bought it, right?
                          icq 157542142

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                            • Doctor Dre
                              Too lazy to set a custom title
                              • Jan 2001
                              • 51692
                              #8
                              A house is an asset according to today's market... (raising value all the time) Unless you go mike tyson on it, spending 55 mills and resell it to 50cents for 5 mills.
                              Originally posted by rayadp05
                              I rebooted, deleted temp files, history, cookies and everything...still cannot view the news clip. All I see is that fucking gay ass music video from "Rick Roll". Anyone else have a different link to the news clip?

                                Comment

                                • Sly
                                  Let's do some business!
                                  • Sep 2004
                                  • 31377
                                  #9
                                  Originally posted by SleazyDream
                                  ask DH - I have read that book but I honestly thought like this before reading it.


                                  posting cause a friend told me my house was an asset today. I've never sceen it as such - don't get me wrong - LOVE this place - but I just see it as a money pit asset wise
                                  Agreed. A lot of his thinking process wasn't that different than how I was already thinking, but he did give some good ideas and insight on a few things. Houses are a money pit.
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                                    • SleazyDream
                                      I'm here for SPORT
                                      • Jul 2001
                                      • 41470
                                      #10
                                      Originally posted by wdforty
                                      The house you live in would be seen as an asset if you sold it for more than you bought it, right?


                                      to be honest that's just a way to justify the money being an asset but in reality you'll dump it into another house and most likly won't profit from it.


                                      think like this - if the value goes up - to get another place that keeps you in the same status - you have to spend just as much - so there really isn't any asset value to it unless you want to LOWER your standard of living and that just sets you back - mentally and socially.
                                      This dog, is dog, a dog, good dog, way dog, to dog, keep dog, an dog, idiot dog, busy dog, for dog, 20 dog, seconds dog!

                                      Now read without the word dog.

                                        Comment

                                        • Sly
                                          Let's do some business!
                                          • Sep 2004
                                          • 31377
                                          #11
                                          Originally posted by Doctor Dre
                                          A house is an asset according to today's market... (raising value all the time) Unless you go mike tyson on it, spending 55 mills and resell it to 50cents for 5 mills.
                                          Are houses still going up big time in Montreal? It depends on the market, value isn't going up everywhere anymore, a lot of people are in trouble.
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                                            • HighRoller
                                              Confirmed User
                                              • Feb 2003
                                              • 1037
                                              #12
                                              I don't think Robert Kiyosaki considers it an asset
                                              I kind of consider it both
                                              it does go up, it diffinetaly beats renting


                                              There is some stat out there that the average homeowner's net worth is lke 160k, and renters is 4k or less, don't remember the exact quotes


                                              In reality it's an asset if you rent out the other rooms and the other people pay for your rent in the house.


                                              But if you have a $5000/mo payment on your house, that it's in some ways a liability, because you could go get a $800/mo place
                                              and then go get


                                              10 properties that negatively cashflow $400 a month , so much more you can do with that money.

                                                Comment

                                                • HighRoller
                                                  Confirmed User
                                                  • Feb 2003
                                                  • 1037
                                                  #13
                                                  By the way I could teach all of you how to buy 100 houses in the next few years over a post on Gfy

                                                    Comment

                                                    • Doctor Dre
                                                      Too lazy to set a custom title
                                                      • Jan 2001
                                                      • 51692
                                                      #14
                                                      Originally posted by Sly
                                                      Are houses still going up big time in Montreal? It depends on the market, value isn't going up everywhere anymore, a lot of people are in trouble.
                                                      Near Ottawa about 3.5 % a year steady.

                                                      thing with the canadian market is that the interest aren't tax deductable like in the US, so the house boom wasn't nearly as big
                                                      Originally posted by rayadp05
                                                      I rebooted, deleted temp files, history, cookies and everything...still cannot view the news clip. All I see is that fucking gay ass music video from "Rick Roll". Anyone else have a different link to the news clip?

                                                        Comment

                                                        • Doctor Dre
                                                          Too lazy to set a custom title
                                                          • Jan 2001
                                                          • 51692
                                                          #15
                                                          Originally posted by SleazyDream
                                                          to be honest that's just a way to justify the money being an asset but in reality you'll dump it into another house and most likly won't profit from it.


                                                          think like this - if the value goes up - to get another place that keeps you in the same status - you have to spend just as much - so there really isn't any asset value to it unless you want to LOWER your standard of living and that just sets you back - mentally and socially.
                                                          You can think like that about anything you buy that gain value too... what is an asset then ?
                                                          Originally posted by rayadp05
                                                          I rebooted, deleted temp files, history, cookies and everything...still cannot view the news clip. All I see is that fucking gay ass music video from "Rick Roll". Anyone else have a different link to the news clip?

                                                            Comment

                                                            • RobbieRye
                                                              Registered User
                                                              • Oct 2005
                                                              • 616
                                                              #16
                                                              My rich dad told me to buy assets.

                                                              Actually, truth be known, my grandparents instilled this in me. I don't think that (basic) living is tough. Keep your monthly expenses as low as you possibly can and only buy things when you actually have the money.

                                                                Comment

                                                                • SleazyDream
                                                                  I'm here for SPORT
                                                                  • Jul 2001
                                                                  • 41470
                                                                  #17
                                                                  Originally posted by Doctor Dre
                                                                  You can think like that about anything you buy that gain value too... what is an asset then ?
                                                                  an asset is something that puts money in my pocket - and more then it takes out
                                                                  This dog, is dog, a dog, good dog, way dog, to dog, keep dog, an dog, idiot dog, busy dog, for dog, 20 dog, seconds dog!

                                                                  Now read without the word dog.

                                                                    Comment

                                                                    • uno
                                                                      RIP Dodger. BEST.CAT.EVER
                                                                      • Dec 2002
                                                                      • 18450
                                                                      #18
                                                                      Originally posted by Sly
                                                                      Have you been reading Rich Dad Poor Dad?

                                                                      I buy liabilities to help enjoy life, assets to make more money. Weee!
                                                                      I had that exact same thought.
                                                                      -uno
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                                                                        • KRL
                                                                          Entrepreneur
                                                                          • Oct 2002
                                                                          • 31429
                                                                          #19
                                                                          Only buy liabilies if they are deeply discounted.

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                                                                            • bigdog
                                                                              Confirmed User
                                                                              • Jul 2001
                                                                              • 6964
                                                                              #20
                                                                              Whats the point of making money if you don't spend it a little. Just don't go overboard

                                                                                Comment

                                                                                • biftek
                                                                                  So Fucking Banned
                                                                                  • Jan 2005
                                                                                  • 1030
                                                                                  #21
                                                                                  well my car that i own is around 10years old , wont buy a new car as it doesn't make a sound investment ,
                                                                                  i rent my home , works out much cheaper compared to buying a house, money i save i put into investments

                                                                                  don't need fancy things to splash my wealth , not that i don't buy stuff , just don't buy shit cause i have the money to burn

                                                                                    Comment

                                                                                    • HighRoller
                                                                                      Confirmed User
                                                                                      • Feb 2003
                                                                                      • 1037
                                                                                      #22
                                                                                      Originally posted by biftek
                                                                                      well my car that i own is around 10years old , wont buy a new car as it doesn't make a sound investment ,
                                                                                      i rent my home , works out much cheaper compared to buying a house, money i save i put into investments

                                                                                      don't need fancy things to splash my wealth , not that i don't buy stuff , just don't buy shit cause i have the money to burn

                                                                                      In reality renting shouldn't be cheaper than buying a home
                                                                                      if you count in the tax deductions at the end of the year.

                                                                                      Renting is ok in situations you are going to live 18 months or less
                                                                                      just because of closing costs and real estate commissions

                                                                                        Comment

                                                                                        • woj
                                                                                          <&(©¿©)&>
                                                                                          • Jul 2002
                                                                                          • 47880
                                                                                          #23
                                                                                          Originally posted by SleazyDream
                                                                                          an asset is something that puts money in my pocket - and more then it takes out
                                                                                          It sounds like you are blindly repeating what rich dad poor dad book says...
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                                                                                            • biftek
                                                                                              So Fucking Banned
                                                                                              • Jan 2005
                                                                                              • 1030
                                                                                              #24
                                                                                              well in australian coditions after you crunch the numbers ,

                                                                                              over 20 years, you'd pay 300k interest on a 250K loan (thats the figures I worked out a few months ago)
                                                                                              if you payed 200 p/w rent for 52wks x 20 years that equals 200K. If you saved like you would have paid a mortgage ($250pw x 52wk x 20) thats $260k in savings, not including interest, dividends or money made from investments.
                                                                                              With that you can argue rent going up (like I could say interest rate going up), inflation, a property boom etc. you could also include the 3-6% a year your property will go up (some are going up higher right now, but they're the ones you can't afford to buy now anyway), and I could argue shire rates and their steady increase, property upkeep etc,

                                                                                                Comment

                                                                                                • HighRoller
                                                                                                  Confirmed User
                                                                                                  • Feb 2003
                                                                                                  • 1037
                                                                                                  #25
                                                                                                  Originally posted by biftek
                                                                                                  well in australian coditions after you crunch the numbers ,

                                                                                                  over 20 years, you'd pay 300k interest on a 250K loan (thats the figures I worked out a few months ago)
                                                                                                  if you payed 200 p/w rent for 52wks x 20 years that equals 200K. If you saved like you would have paid a mortgage ($250pw x 52wk x 20) thats $260k in savings, not including interest, dividends or money made from investments.
                                                                                                  With that you can argue rent going up (like I could say interest rate going up), inflation, a property boom etc. you could also include the 3-6% a year your property will go up (some are going up higher right now, but they're the ones you can't afford to buy now anyway), and I could argue shire rates and their steady increase, property upkeep etc,


                                                                                                  Is Dolf De Roos big where you are?
                                                                                                  I think he originates from New Zealand

                                                                                                  He is an advisor friend of Robert Kiyosaki
                                                                                                  Last edited by HighRoller; 03-26-2006, 06:57 PM.

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                                                                                                    • woj
                                                                                                      <&(©¿©)&>
                                                                                                      • Jul 2002
                                                                                                      • 47880
                                                                                                      #26
                                                                                                      In my opionion an asset it something that either (in somewhat simplified terms):
                                                                                                      1. generates positive cashflow
                                                                                                      2. appreciates in value

                                                                                                      So if you buy a car and lease it to someone for more than your costs, depreciation, etc, then in that case it's an asset...

                                                                                                      Same with a house, if you buy a house and it appreciates more than all your costs, then it's an asset too... it's completely irrevelant if you live in there yourself or if you rent it out..

                                                                                                      Real businessman are WAY past worrying about what is an asset or a liability, they worry about buying assets that have highest ROI...
                                                                                                      Last edited by woj; 03-26-2006, 07:02 PM.
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                                                                                                        • HighRoller
                                                                                                          Confirmed User
                                                                                                          • Feb 2003
                                                                                                          • 1037
                                                                                                          #27
                                                                                                          yep like a trailer house
                                                                                                          for example would go down in value since it's personal property
                                                                                                          but soon it would be paid off and cashflow nicely

                                                                                                            Comment

                                                                                                            • Sly
                                                                                                              Let's do some business!
                                                                                                              • Sep 2004
                                                                                                              • 31377
                                                                                                              #28
                                                                                                              Originally posted by HighRoller
                                                                                                              Is Dolf De Roos big where you are?
                                                                                                              I think he originates from New Zealand

                                                                                                              He is an advisor friend of Robert Kiyosaki
                                                                                                              What do you think of De Roos? My dad and I have been looking at some apartment buildings to buy, he currently owns a duplex with great cashflow and he reads a lot of De Roos. Do you like him? Have any recommendations for authors that definitely need to be read?
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                                                                                                                • BlingDaddy
                                                                                                                  Confirmed User
                                                                                                                  • Apr 2004
                                                                                                                  • 6343
                                                                                                                  #29
                                                                                                                  Sometimes my Assets are Liabilites.... damnit.
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                                                                                                                    • reynold
                                                                                                                      Too lazy to set a custom title
                                                                                                                      • Oct 2002
                                                                                                                      • 51271
                                                                                                                      #30
                                                                                                                      not really particular whether items are an asset or liability... i see to it that the value of whatever item i buy will appreciate in the future.

                                                                                                                        Comment

                                                                                                                        • Logan Videos
                                                                                                                          Confirmed User
                                                                                                                          • Aug 2005
                                                                                                                          • 589
                                                                                                                          #31
                                                                                                                          Originally posted by woj
                                                                                                                          In my opionion an asset it something that either (in somewhat simplified terms):
                                                                                                                          1. generates positive cashflow
                                                                                                                          2. appreciates in value

                                                                                                                          So if you buy a car and lease it to someone for more than your costs, depreciation, etc, then in that case it's an asset...

                                                                                                                          Same with a house, if you buy a house and it appreciates more than all your costs, then it's an asset too... it's completely irrevelant if you live in there yourself or if you rent it out..

                                                                                                                          Real businessman are WAY past worrying about what is an asset or a liability, they worry about buying assets that have highest ROI...
                                                                                                                          I totally agree with you.

                                                                                                                            Comment

                                                                                                                            • Doctor Dre
                                                                                                                              Too lazy to set a custom title
                                                                                                                              • Jan 2001
                                                                                                                              • 51692
                                                                                                                              #32
                                                                                                                              Originally posted by SleazyDream
                                                                                                                              an asset is something that puts money in my pocket - and more then it takes out
                                                                                                                              well if a house gain 3.5 % value a year and you pay for it cash... consider it an asset since the repair cost aren't 3.5 % a year...
                                                                                                                              Originally posted by rayadp05
                                                                                                                              I rebooted, deleted temp files, history, cookies and everything...still cannot view the news clip. All I see is that fucking gay ass music video from "Rick Roll". Anyone else have a different link to the news clip?

                                                                                                                                Comment

                                                                                                                                • woj
                                                                                                                                  <&(©¿©)&>
                                                                                                                                  • Jul 2002
                                                                                                                                  • 47880
                                                                                                                                  #33
                                                                                                                                  Originally posted by Doctor Dre
                                                                                                                                  well if a house gain 3.5 % value a year and you pay for it cash... consider it an asset since the repair cost aren't 3.5 % a year...
                                                                                                                                  there are also taxes, insurance, etc
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                                                                                                                                    • HighRoller
                                                                                                                                      Confirmed User
                                                                                                                                      • Feb 2003
                                                                                                                                      • 1037
                                                                                                                                      #34
                                                                                                                                      Originally posted by Doctor Dre
                                                                                                                                      well if a house gain 3.5 % value a year and you pay for it cash... consider it an asset since the repair cost aren't 3.5 % a year...

                                                                                                                                      and if inflation is 3.5% per year or more
                                                                                                                                      are you making anything really?

                                                                                                                                      on an all cash invested that is

                                                                                                                                        Comment

                                                                                                                                        • GTS Mark
                                                                                                                                          Vrume Mark
                                                                                                                                          • Jan 2001
                                                                                                                                          • 20912
                                                                                                                                          #35
                                                                                                                                          Originally posted by KRL
                                                                                                                                          Only buy liabilies if they are deeply discounted.

                                                                                                                                          LOL! I love that one! I am going to start using it

                                                                                                                                          DH

                                                                                                                                            Comment

                                                                                                                                            • AnneT
                                                                                                                                              Confirmed User
                                                                                                                                              • Aug 2003
                                                                                                                                              • 270
                                                                                                                                              #36
                                                                                                                                              The way I see it, my house is not an asset but NOT owning my house is a liability. Bit of a no-win situation.

                                                                                                                                              So long as you make decent repayments on your mortgage and get it paid off quickly. And don't buy a house you can't afford. If you are earning enough to pay for a mansion, then you should be doing something better with the money.

                                                                                                                                              Renting looks great on paper but sucks big time when you get evicted every few years coz the owner wants to sell. At least where I live anyway.

                                                                                                                                              HighRoller - I'm off to look at your post now ;)
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                                                                                                                                                • SleazyDream
                                                                                                                                                  I'm here for SPORT
                                                                                                                                                  • Jul 2001
                                                                                                                                                  • 41470
                                                                                                                                                  #37
                                                                                                                                                  Originally posted by woj

                                                                                                                                                  Real businessman are WAY past worrying about what is an asset or a liability, they worry about buying assets that have highest ROI...

                                                                                                                                                  ummm you said the same thing twice a different way
                                                                                                                                                  This dog, is dog, a dog, good dog, way dog, to dog, keep dog, an dog, idiot dog, busy dog, for dog, 20 dog, seconds dog!

                                                                                                                                                  Now read without the word dog.

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                                                                                                                                                    • Penthouse Tony
                                                                                                                                                      Confirmed User
                                                                                                                                                      • Apr 2004
                                                                                                                                                      • 5835
                                                                                                                                                      #38
                                                                                                                                                      Originally posted by AnneT
                                                                                                                                                      Renting looks great on paper but sucks big time when you get evicted every few years coz the owner wants to sell. At least where I live anyway.
                                                                                                                                                      I'll second that. I'm finally living in the same place for more than a year for the first time in 6 years.
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                                                                                                                                                        • HighRoller
                                                                                                                                                          Confirmed User
                                                                                                                                                          • Feb 2003
                                                                                                                                                          • 1037
                                                                                                                                                          #39
                                                                                                                                                          Originally posted by AnneT
                                                                                                                                                          The way I see it, my house is not an asset but NOT owning my house is a liability. Bit of a no-win situation.

                                                                                                                                                          So long as you make decent repayments on your mortgage and get it paid off quickly. And don't buy a house you can't afford. If you are earning enough to pay for a mansion, then you should be doing something better with the money.

                                                                                                                                                          Renting looks great on paper but sucks big time when you get evicted every few years coz the owner wants to sell. At least where I live anyway.

                                                                                                                                                          HighRoller - I'm off to look at your post now ;)


                                                                                                                                                          Paying off your house is not the best idea

                                                                                                                                                          read missed fortune 101
                                                                                                                                                          or the regular version of Missed Fortune

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                                                                                                                                                            • detoxed
                                                                                                                                                              vip member
                                                                                                                                                              • Jan 2003
                                                                                                                                                              • 17798
                                                                                                                                                              #40
                                                                                                                                                              Originally posted by SleazyDream
                                                                                                                                                              Frame of thought - when you buy stuff - do you buy assets or liabilities?


                                                                                                                                                              Better yet - do you buy liabilities that you tell yourself is an asset?

                                                                                                                                                              examples of typical liabilities that many think are assets

                                                                                                                                                              you car
                                                                                                                                                              the house you live in
                                                                                                                                                              your boat
                                                                                                                                                              your moterbike
                                                                                                                                                              cloths
                                                                                                                                                              jewlry



                                                                                                                                                              So what do you buy when you buy things? Assets or liabilities?

                                                                                                                                                              who thinks clothes are assets? I buy both things I need and things I want.

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                                                                                                                                                                • HighRoller
                                                                                                                                                                  Confirmed User
                                                                                                                                                                  • Feb 2003
                                                                                                                                                                  • 1037
                                                                                                                                                                  #41
                                                                                                                                                                  Instead of liabilities and assets

                                                                                                                                                                  I would say good debt and bad debt

                                                                                                                                                                  that's clearly defines it more I think

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                                                                                                                                                                    • AnneT
                                                                                                                                                                      Confirmed User
                                                                                                                                                                      • Aug 2003
                                                                                                                                                                      • 270
                                                                                                                                                                      #42
                                                                                                                                                                      Originally posted by HighRoller
                                                                                                                                                                      Paying off your house is not the best idea

                                                                                                                                                                      read missed fortune 101
                                                                                                                                                                      or the regular version of Missed Fortune
                                                                                                                                                                      Cool. I'll go check it out.

                                                                                                                                                                      Not saying I 100% agree with you but I've learnt to listen to as many opinions as possible when it comes to finance (so long as they can be backed up).

                                                                                                                                                                      Got any more good suggestions? Appart from the obvious ones?
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                                                                                                                                                                        • HighRoller
                                                                                                                                                                          Confirmed User
                                                                                                                                                                          • Feb 2003
                                                                                                                                                                          • 1037
                                                                                                                                                                          #43
                                                                                                                                                                          Rich Dad Poor Dad is kind of the starting point
                                                                                                                                                                          and he has about 18 purple and yellow books
                                                                                                                                                                          about 5 from him and 12 from his advisors


                                                                                                                                                                          The idea behind missed fortune is a lot of things
                                                                                                                                                                          keep in mind especially on rentals
                                                                                                                                                                          interest can be written off as a tax deduction
                                                                                                                                                                          if you pay off your own house you lose that tax deduction
                                                                                                                                                                          if you take a 7% interest rate on your house
                                                                                                                                                                          and take the effective rate with deductions etc

                                                                                                                                                                          might be more like 4.8% for example

                                                                                                                                                                          If you always had your house 100% leveraged but had all equity in another liquid asset, can you beat 4.8%? sure you can that's easy


                                                                                                                                                                          How would you like to be in a market with 100,000 houses going down in value
                                                                                                                                                                          people want to walk a bad economy in certain markets?

                                                                                                                                                                          If the bank had 100,000 homes not paying, which homes do you think they will take the time to foreclose on first

                                                                                                                                                                          the one owing $15,000 as a balance
                                                                                                                                                                          or the ones owing $200k balance?

                                                                                                                                                                          equity in a house gets zero return

                                                                                                                                                                            Comment

                                                                                                                                                                            • Webby
                                                                                                                                                                              Too lazy to set a custom title
                                                                                                                                                                              • Oct 2002
                                                                                                                                                                              • 14956
                                                                                                                                                                              #44
                                                                                                                                                                              Originally posted by SleazyDream

                                                                                                                                                                              examples of typical liabilities that many think are assets

                                                                                                                                                                              you car
                                                                                                                                                                              the house you live in
                                                                                                                                                                              your boat
                                                                                                                                                                              your moterbike
                                                                                                                                                                              cloths
                                                                                                                                                                              jewlry
                                                                                                                                                                              Ain't no way lumps of metal such as cars, boats, bikes or clothes are assets - they are playthings - some out of necessity. Stones and metals can be, - depends on whether ya paid thru the nose for it in a "fine jewellery" store and at markups common in that biz A house can be, - depends on the financing blah.

                                                                                                                                                                              Only my worth, but the best "asset" ever is pure soil in the form of land - nobody can make that, and it keeps getting shorter in supply.
                                                                                                                                                                              Last edited by Webby; 03-26-2006, 08:18 PM.
                                                                                                                                                                              XXX TLD's - Another mosquito to swat.

                                                                                                                                                                                Comment

                                                                                                                                                                                • reed_4
                                                                                                                                                                                  Confirmed User
                                                                                                                                                                                  • Jul 2005
                                                                                                                                                                                  • 9640
                                                                                                                                                                                  #45
                                                                                                                                                                                  examples of typical liabilities that many think are assets

                                                                                                                                                                                  you car
                                                                                                                                                                                  the house you live in
                                                                                                                                                                                  your boat
                                                                                                                                                                                  your moterbike
                                                                                                                                                                                  cloths
                                                                                                                                                                                  jewlry
                                                                                                                                                                                  I buy jewelries and I think this is the best investment one should have.

                                                                                                                                                                                    Comment

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