Your House Is Not An Asset

In the video, Robert Kiyosaki (of Rich Dad, Poor Dad fame and someone with more knowledge than me) explains exactly why (with a helpful accounting diagram) the house you own is not an asset and, instead, is a liability.

Kiyosaki makes some very helpful points, such as:

• People today call their liabilities “assets”;
• The concept that an item that takes money out of your pocket is a liability, and an item that puts money in your pocket is an asset; and
• The power of cash flow.

It’s a short and very insightful video.  Enjoy!

Go here to read the rest:
Your House Is Not An Asset

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• Rent Out Your Home. Cut Your Taxes.
• The Rich Dad Difference Videos (#9 – #11)
• The Rich Dad Difference Videos (#5 – #8)
• Don?t Fear Failure
• Rich Dad’s 8 Core Values for Success