@Henrrey Pang 邝玟维
What are Assets and Liabilities? Understanding the true definition is the key to getting rich A lot of people come to me asking how they can get rich quick. That is the one question that disturbs me the most because it’s the wrong question.
It tells me that they don’t have the foundation of financial intelligence required to use their money well if they get rich. This is because most people don’t understand that, when it comes to being rich, it’s not about how much money you make.
It’s about how much money you keep. Want to be rich? It’s about assets vs. liabilities My poor dad always told me, “You need to read books.” My rich dad always told me, “You need to be financially literate.” I believe both were right.
Books and learning are important, and so is a strong financial education. And if I had to choose one over the other, I’d choose financial education.
The importance of a firm, financial foundation makes sense when you think of construction. If you want to build the Empire State Building, the first thing you do is dig a deep hole and pour a strong foundation.
If you want to build a McMansion in the suburbs, you pour a six-inch slab. The problem with most people who want to get rich quick is that they’re trying to build the Empire State Building on a six-inch slab of concrete. They haven’t gone deep.
They don’t have a firm, financial education to shore up their financial foundation. Thankfully, my rich dad took the time to teach me about money and poured a strong, financial foundation for my life.
And the number one rule he taught me was: “You must learn the difference between an asset and a liability—and buy assets.” It’s so simple a rule that it’s almost anti-climactic.
But, if you want to be rich, this is all you need to know. It’s rule number one. It’s the only rule. The reality is that most people struggle financially because they don’t know the difference between an asset and a liability.
Partly, this is because schools don’t teach people what an asset and a liability is. And partly, this is because those who do learn the concepts learn them from accountants who make them much too complicated.
In this video, im gonna share you What are Assets and Liabilities?
1. Understanding the true definition is the key to getting rich
2. What is an asset?
3. What is a liability?
4. The difference between an asset and a liability
5. The rich don’t work for money
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Free Online Speaking Tips and Tutorial Hi, my name is Henrrey and im emcee for events such as weddings, corporate events, private events, as preview speaker, trainer and etc. i have more than 8 years experience and over 1300++ events experience as emcee, speaker, voice over and trainer.
im doing this channel to share everything i know to those who are looking for methods to learn or improve skills in public speaking. From understanding the foundation including the DO’s and Don’ts, speech engagement, critical thinking, anxiety management, leadership, how to be a better emcee, stage speaker, facebook live speaker, trainer and many mor
Please leave comments if you have any questions regarding speaking on stage or in front of camera and i will be more than happy to answer your questions with all my knowledge. i post videos every 2-3 days once