RICH DAD VS POOR DAD

  RICH DAD VS POOR DAD 

 

let's try about how money works so the income comes in and goes out as an expense and they never get around to paying themselves at all on the other hand the middle class they start with a certain amount of income they spend up that income on liabilities and the liabilities are just become expenses and the money goes out of their expense column and they have very limited assets they have maybe retirement savings or banks savings or some sort of housing but that's about it they might have higher-income but then they also have higher liabilities which in the end keep taking money out of their pockets so these people the middle-class people are paying themselves last the first thing to do is pay their liabilities and expenses and then they pay themselves then they acquire limited assets and they almost get no income from these assets because these assets are very limited or they are in retirement savings or stuff like that however the rich pay themselves first now what that means is that as soon as any income comes in the first invest a portion of it into their assets their money is employed right way the remainder of their income is then used for expenses and liabilities so while the poor and the middle class prioritize expenses and liabilities the rich prioritize assets the rich ensure that their expenses are much lower than their income and that their liabilities are much lower than their assets and paying themselves first by investing in assets is a big step in that direction so there we have it the three most important lessons.  .