How to Turn All of Your Liabilities Into Money-Making Assets

In our last video we discussed why you need to understand the difference between assets and liabilities if you want to become rich. The quick summary is that an asset will put money into your pocket, while a liability will remove money from your pocket. We also claimed that you need to acquire assets and avoid liabilities if you wanted to become wealthy.

With this in mind, do you think owning the house you live in is considered an asset? Many experts and financial advisers would argue that buying the house you live in is a great investment. But is it? The house brings a lot of costs associated with it, you must pay your mortgage, insurance, maintenance and so forth. Based on the definition, is it not a liability? And if it is a liability, is that a bad thing?

What if we tell you there is a way you can turn most liabilities that you own into a money-making machine? What if there is a way for you to turn your liabilities into assets? Well, that would change everything!
00:00 Introduction
01:11 Turn Liabilities into Assets
07:42 Summary

свернуть