Your House, Your Car and Your Boat Are Not Assets

By Mikael

I will not take credit for this idea as I have learned it from Robert Kiyosaki (the author of the Rich Dad books) but the fact remains that it is very important that we realize that our homes, cars and all the other material stuff that we have bought are not assets. It is actually far worse because most of them are liabilities and we don’t even realize it. Many of us have been told by our parents, bankers and the media that we should buy a house because it is an investment and a great asset. From an accountant’s point of view that might be true but the fact is that a house is nothing but a liability that is sucking on our paycheck every single month. Does this mean that you shouldn’t buy a house? No of cause not because a house ha... Read more