- “How we handle fears, doubts, beliefs, strengths, and weaknesses determines if we become rich or poor.”
- “Question all advice that you hear and read. Question the experts. Question me and my team. Think for yourself.”
- “In the real world, the smartest people are people who make mistakes and learn. In school, the smartest people don’t make mistakes.”
- “Be careful taking on debt. If you take on debt personally, make sure it’s small. If you take on large debt, make sure someone else is paying for it.”
- “Everything the working class has been told to do, the rich do not do. The rich understand money. They work for positive cash flow, not a paycheck.”
- “No one can afford bad advice.”
- “You will make some mistakes, but, if you learn from those mistakes, those mistakes will become wisdom and wisdom is essential to becoming wealthy.”
- “Workers work hard enough to not be fired, and owners pay just enough so that workers won’t quit.”
- “The world is full of smart poor people.”
- “The most important word in the world of money is cash flow. The second most important word is leverage.”
- “It’s not what you say out of your mouth that determines your life; it’s what you whisper to yourself that has the most power.”
- “Life isn’t fair. It never will be. Quit trying to make it fair. You don’t need it to be fair. Go make life unfair to your advantages.”
- “Watch what the idiots are doing, and do the opposite.”
- “It’s easier to stand on the sidelines, criticize, and say why you shouldn’t do something. The sidelines are crowded. Get in the game.”
- “It’s always about perspective. Every setback offers a lesson. Are you looking for it?”
- “It’s more important to grow your income than it is to cut your expenses. And it’s more important to grow your spirit than cut your dreams.”
- “I’d rather welcome change than cling to the past.”
- “To be successful in business you must learn three management skills: (1) manage your cash flow; (2) manage your people; (3) manage your time.”
- “Often, the more money you make the more money you spend; that’s why more money doesn’t make you rich – assets make you rich.”
- “Complaining about your current position in life is worthless. Have a spine and do something about it instead.”
- “If you’re working solely on earned income? You’re playing with fire.”
- “Hoping drains your energy. Action creates energy.”
- “Don’t be addicted to money. Work to learn. Don’t work for money. Work for knowledge.”
- “If you want to become a rich person, don’t let the poor person inside of you do the talking.”
- “The fear of being differentprevents most people from seeking new ways to solve their problems.”
- “No matter where you live, or your background, the only people who will thrive in the future are those who think like an entrepreneur.”
- “The trouble with school is they give you the answer, then they give you the exam. That’s not life.”
- “The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth in what seems to be an instant.”
- “If you think financial education is expensive, try ignorance.”
- “Broke is temporary; poor is eternal.”
- “The most successful people in life are the ones who ask questions. They’re always learning. They’re always growing. They’re always pushing.”
- “The most life-destroying word of all is the word tomorrow.”
- “Winners are not afraid of losing. But losers are. Failure is part of the process of success. People who avoid failure also avoid success.”
- “The more a person seeks security, the more that person gives up control over his life.”
- “If you want to be rich, you need to develop your vision. You must be standing on the edge of time, gazing into the future.”
- “If you’re still doing what mommy and daddy said for you to do (go to school, get a job, and save money), you’re losing.”
- “The size of your success is measured by the strength of your desire, the size of your dream, and how well you handle rejection along the way.”
- “Everyone can tell you the risk. An entrepreneur can see the reward.”
- “When you’re forced to think, you expand your mental capacity. When you expand your mental capacity, your wealth increases.”
- “The biggest challenge you have is to challenge your own self doubt and your laziness. It is your self doubt and your laziness that defines and limits who you are.”
- “You’ll often find that it’s not mom or dad, husband or wife, or the kids that’s stopping you. It’s you. Get out of your own way.”
- “The problem with having a job is that it gets in the way of getting rich.”
- “The love of money is not the root of all evil. The lack of money is the root of all evil.”
- “The wealthy buy luxuries last, while the poor and middle-class tend to buy luxuries first. Why? Emotional discipline.”
- “When times are bad is when the real entrepreneurs emerge.”
- “When I started my last business, I didn’t receive a paycheck for 13 months. The average person can’t handle that pressure.”
- “There are no bad business and investment opportunities, but there are bad entrepreneurs and investors.”
- “It does not take money to make money.”
- “People need to wake up and realize that life doesn’t wait for you. If you want something, get up and go after it.”
- “In today’s rapidly-changing world, the people who are not taking risk are the risk takers.”
- “Skills make you rich, not theories.”
- “The more I risk being rejected, the better my chances are of being accepted.”
- “When you pretend to be smart, you’re at the height of stupidity.”
- “The ability to sell is the number one skill in business. If you cannot sell, don’t bother thinking about becoming a business owner.”
- “The only difference between a rich person and a poor person is how they use their time.”
- “The moment you make passive income and portfolio income a part of your life, your life will change. Those words will become flesh.”
- “By all means, take a rest. Recharge your battery this weekend. Just know your competition might not feel the same way. It’s what you’re doing while everyone else is relaxing that makes a difference.”
- “Financial struggle is often the direct result of people working all their lives for someone else.”
- “If you want to go somewhere, it is best to find someone who has already been there.”
- “The philosophy of the rich and the poor is this: the rich invest their money and spend what is left. The poor spend their money and invest what is left.”
- “If you want to be financially-free, become a different person than you are today and let go of whatever has held you back in the past.”
- “Find the game where you can win, and then commit your life to playing it; and play to win.”
- “One of the great things about being willing to try new things and make mistakes is that making mistakes keeps you humble. And people who’re humble learn more than people who are arrogant.”
- “I keep hearing, ‘I’d rather be happy than rich.’ But why not be both?”
- “Retaining memorized information just long enough to pass a test will not define your true intelligence.”
- “Don’t waste a good mistake; learn from it.”
- “The poor, the unsuccessful, the unhappy, the unhealthy are the ones who use the word tomorrow the most.”
- “Choose your words wisely. They become your actions and then your reality.”
- “Refuse to let those that matter least interfere with what matters most.”
Rich Dad Poor Dad Quotes
These are quotes specifically from the original book that has inspired millions of us.
1. “You’re only poor if you give up. The most important thing is that you did something. Most people only talk and dream of getting rich. You’ve done something.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
2. “Stop blaming me, thinking I’m the problem. If you think I’m the problem, then you have to change me. If you realize that you’re the problem, then you can change yourself, learn something and grow wiser. Most people want everyone else in the world to change themselves. Let me tell you, it’s easier to change yourself than everyone else.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
3. “Excessive fear and self-doubt that were the greatest detractors of personal genius.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
4.” An intelligent person hires people who are more intelligent than he is.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
5. ” It’s not what you say out of your mouth that determines your life,it’s what you whisper to yourself that has the most power.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
6. “Don’t be addicted to money. Work to learn, don’t work for money. Work for knowledge.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
7. “In today’s fast-changing world, it’s not so much what you know anymore that counts, because often what you know is old. It is how fast you learn. That skill is priceless.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
8. “Money often makes obvious our tragic human flaws, putting a spotlight on what we don’t know.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
9. “The problem with simply working harder is that each of these three levels takes a greater share of your increased efforts. You need to learn how to have your increased efforts benefit you and your family directly.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
10. “The mistake in becoming what you study is that too many people forget to mind their own business. They spend their lives minding someone else’s business and making that person rich.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
11. “Rich dad believed that the words ‘I can’t afford it’ shut down your brain. ‘How can I afford it?’ opens up possibilities, excitement, and dreams.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
12. “Workers work hard enough to not be fired, and owners pay just enough so that workers won’t quit” And if you look at the pay scales of most companies, again I would say there is a degree of truth in that statement.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
13. “Poor dad wanted me to specialize. That was his view on how to be paid more. Even after being told by the governor of Hawaii that he could no longer work in state government (…) He never understood that the more specialized you become, the more you are trapped and dependent on that specialty.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
14. “Staking the asset column is a high-attitude game. It takes guts, patience and a great attitude toward failure. Losers aoid failing. And failure turns losers into winers.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
15.” I would say that one of the hardest things about wealth building is to be true to yourself and be willing to not go along with the crowd. (…) As we used to say as surfers: “There is always another way.” People who hurry and catch a wave late usually are the ones who wipe out.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
16. “Too often today, we focus to borrowing money to get the things we want instead of focusing on creating money. One is easier in the short term, but harder in the long term (…) Remember, the easy road often becomes hard, and the hard road often becomes easy.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
17. “Start minding your own business. Keep you daytime job, but start buying real assets, not liabilities.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
18. “Financial struggle is often directly the result of people working all their lives for someone else.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
19. “The better you are at communicating, negotiating, and handling your fear of rejection, the easier life is.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
20. “A truly intelligent person welcomes new ideas, for new ideas can add to the synergy of other accumulated ideas.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
21. “My brain gets stronger everyday because I exercise it. The stronger it gets, the more money I can make.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
Related: See our quotes about saving money here
22. “The world is filled with talented poor people. All too often, they’re poor or struggle financially or earn less than they are capable of, not because of what they know, but because of what they don’t know.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
23. “Many people will not head down the street until all the lights are green. That is why they don’t go anywhere.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
24. “Wealth is a person’s ability to survive so many number of days forward — or, if I stopped working today, how long could I survive?”– Robert T. Kiyosaki, Rich Dad, Poor Dad
25. “The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth seemingly instantaneously. An untrained mind can also create extreme poverty that can crush a family for generations.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
26. “The ability to sell—to communicate to another human being, be it a customer, employee, boss, spouse, or child—is the base skill of personal success.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
27. “Sometimes you win and sometimes you learn. But have fun. Most people never win because they’re more afraid of losing.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
28. “Getting rich begins with the right mindset, the right words and the right plan.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
29. “The size of your success is measured by the strength of your desire; the size of your dream; and how you handle disappointment along the way.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
30. “You will make some mistakes but, if you learn from those mistakes, those mistakes will become wisdom and wisdom is essential to becoming wealthy.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
31. “Rich dad said it this way, ‘Big people have big dreams and small people have small dreams. If you want to change who you are, begin by changing the size of your dreams.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
32. “My Rich Dad said, ‘All of us have the power of choice. I choose to be rich, and I make that choice every day.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
33. “Before there is a business, a successful entrepreneur is designing this type of business in his or her mind’s eye. According to my rich dad, this is the job of a true entrepreneur.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
34. “My rich dad taught me to focus on passive income and spend my time acquiring the assets that provide passive or long term residual income…passive income from capital gains, dividends, residual income from business, rental income from real estate, and royalties.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
35. “In 1997, in Rich Dad, Poor Dad, I stated, ‘Your home is not an asset.’ Real estate agents sent me hate mail.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
36. “The philosophy of the rich and the poor is this: the rich invest their money and spend what is left. The poor spend their money and invest what is left.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
37. “Success is a poor teacher. We learn the most about ourselves when we fail, so don’t be afraid of failing. Failing is part of the process of success. You cannot have success without failure.”– Robert T. Kiyosaki
38. “It’s more important to grow your income than cut your expenses. It’s more important to grow your spirit than cut your dreams.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
39. “Unfortunately for many people school is the end, not the beginning.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
40. “Money without financial intelligence is money soon gone.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
41. “Money is only an idea. If you want more money simply change your thinking. Every self-made person started small with an idea, then turned it into something big. It takes only a few dollars to start and grow into something, big.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
42. “The poor and the middle-class work for money. The rich have money work for them.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
43. “If you work for money, you give them the power to your employer. If money works for you, you keep the power and control it.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
44. “A person can be highly educated and professionally successful but can still be financially illiterate.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
45. “Sometimes you have to realize that you are the problem not others. This way you can try to change, learn new things and gain more knowledge.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
46. “There exist bad investors and entrepreneurs but no bad business or investment opportunities.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
47. “There will always be risk where there is money. Learn to manage risks instead of avoiding them.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
48. “If you have low financial intelligence then money will become smarter than you. You will have to work for it your whole life. You need to become smarter than money to be the master of it. Then money will obey you. This is financial intelligence.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
49. “Direct sales offers the education my rich dad taught: build your own network rather than working for a network.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
50. “Rich dad has taught me “You can’t do it” doesn’t necessarily mean “you can’t”. It more often means “they can’t.”– Robert T. Kiyosaki, Rich Dad, Poor Dad
- Experience Makes You Smarter. ...
- The More You Give, The More You Receive. ...
- Change The Way You Think. ...
- Focus. ...
- Hard Times Bring New Opportunities. ...
- Design The Business Properly. ...
- Know What You Are Working Hard For. ...
- Don't Be Afraid Of Losses.
In 2014, Forbes compiled a list of history's 100 best money quotes. No. 47 was a statement by Robert Kiyosaki: “It's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.”What is Rich Dad mindset? ›
"Rich dad" espoused the view that being rich or poor is something that you learn. You can learn to think in ways that will support you, and you can raise your financial IQ by reading books on finance, talking to financially successful people, and attending seminars and lectures.Is Rich Dad Poor Dad a motivational book? ›
good inspirational book. if you have doubts about RE investing things and you r on the fence to turn yourself to become an investor or not this book is for you.What does Rich Dad say? ›
Most people become a slave to money… and then get angry at their boss.” “Excessive fear and self-doubt that were the greatest detractors of personal genius.” “Most people fail to realize that in life, it's not how much money you make, it's how much money you keep.” “I can't afford it' shut down your brain.What did Robert Kiyosaki said about school? ›
After elucidating his experience in understanding money, he added, “School never teach you about money, school is designed to teach you to be an employee, but it's important for a doctor or a lawyer, a specialist, but never about money.What is the meaning of the philosophy of the rich and the poor is this the rich invest their money and spend what is left the poor spend their money and invest what is left? ›
“The philosophy of the rich and the poor is this: the rich invest their money and spend what is left. The poor spend their money and invest what is left.” By investing your money first you are always sure that you keep investing in your assets. And that you keep working on growing your wealth.How can I become rich without investment? ›
- Become an Insurance POSP. ...
- Through Freelancing. ...
- Selling Homemade Items. ...
- Opt for Data Entry Jobs. ...
- Test Apps and Websites Before They Go Live.
Poor mindset deludes itself into believing it knows everything, and that opposing perspectives are wrong before even hearing them. Rich mindset understands that it cannot do everything, and that even if it could, it would create greater value by focusing on its core strengths.What does rich versus poor mean? ›
Poor is the condition wherein one lacks in material things while rich is the condition wherein one has every material thing he needs.
The second chapter of Rich Dad Poor Dad explains the difference between an asset and a liability. Chapter 2 drives home the point that it's not about how much money you make, but about how much money you keep.What my rich dad taught me about investing? ›
You will take actions that normal people will think is risky but you know how to manage risks. To be rich, you must take risks and know how to manage them. If you don't take risks, you will be safe but you won't receive much back. As the saying goes, “high risk, high return”.What is the conclusion of Rich Dad Poor Dad book? ›
The result is that the majority of people get trapped in work to pay their bills and are chasing paychecks all their life. This is the sad conclusion Robert Kiyosaki draws in his bestselling book Rich Dad, Poor Dad.How do I learn to be rich? ›
- Quit adding more debt to your life. ...
- Be realistic with your income and spending. ...
- Decrease your spending and expenses. ...
- Make more money. ...
- Pay more than the minimum. ...
- Put little amounts toward your debt.
Why We Want You to Be Rich.
|Authors||Donald Trump Robert Kiyosaki|
|Media type||Print (Hardcover)|
- Create concrete financial goals.
- Invest in your financial education.
- Create a budget and stick to it.
- Pay off your debt and avoid new ones.
- Set up an emergency fund.
- Embrace passive investing.
- Build a diversified portfolio.
- Make passive income.
- Lesson 1: Never work for money. ...
- Lesson 2: We get the initial financial tips from our parents. ...
- Lesson 3: Consider your business idea. ...
- Lesson 4: The most successful people in life are the ones who ask questions. ...
- Lesson 5: Invent money.
Poor Dad was very well-educated, having graduated from top universities with a Ph. D. He had a stable middle-class job working for the government. Poor dad always told his son to get a respectable degree, then work his way up the corporate ladder.Who wrote the book Rich Dad Poor Dad? ›
Rich Dad Poor DadWhat they dont teach you in school? ›
- How to Handle Money.
- Dating and Romantic Relationships.
- How To Survive Without Certain Technology.
- Home Repair & Homeowner's Insurance.
- Car Repair & Car Insurance.
"WHAT SCHOOL DOESN'T TEACH YOU" by Nihit Mohan is a good self-help book, which guides us to achieve our dreams. It describes such lessons, skills and suggestions which are really helpful to built the best path of our carrier and successful life. It contains 10 chapters.Is Richdad com legit? ›
Overview. Rich Dad has a consumer rating of 4.33 stars from 3 reviews indicating that most customers are generally satisfied with their purchases. Rich Dad ranks 59th among Personal Finance sites.What is the 70/30 rule? ›
“The 70/30 method is a budgeting technique to help you allocate your money,” Kia says. Put simply, each month, 70% of the money that you earn will be your spending money, including essentials like bills and rent as well as luxuries, and 30% of the money you earn will go towards your savings.What do poor people spend money on? ›
Nearly 75% of expenditures for families living in or near poverty goes to food, transportation, rent, utilities, and cellphone service.What do rich people spend their money on? ›
According to an article by Insider, billionaires can typically afford to spend $80 million a year, with many spending their wealth on private jets, real estate, remote islands, cars, art, trips to space, and superyachts. All these industries are booming as the world's billionaires seek lavish goods and investments.How can I make 1000 a day without investment? ›
- Blogging. Blogging is one of the most important money-making skills. ...
- Video Editing. If you are an experienced video editor or a beginner you can earn a lot in this field. ...
- Graphic Designing. ...
- Virtual Assistant. ...
- Instagram Pages. ...
- Sell Merchandise. ...
- Captcha work. ...
- Refer & Earn.
- Create a Plan.
- Employer Contributions.
- Ask for a Raise.
- Income Streams.
- Eliminate Debt.
- Improve Your Skills.
- Invest in yourself. Investing in yourself is your first step on how to get rich. ...
- Avoid debt. ...
- Eliminate living expenses. ...
- Develop property. ...
- Save money for retirement. ...
- Start your own business. ...
- Start a side hustle. ...
- Build a portfolio of stocks and shares.
The prototypical personality profile of the rich is marked by higher Risk tolerance, Openness, Extraversion, and Conscientiousness, and lower Neuroticism.How do you act like a rich person? ›
- Always dress well. You don't need to spend a fortune on designer clothing. ...
- Accessories get noticed. Years ago, I read about a cocktail lounge in the Far East. ...
- Don't be selling. ...
- Treat absolutely everyone with respect. ...
- Always be upbeat.
A wealth mindset means spending less, making wise investments, and looking for ways to improve financial standing with minimal risk. The good news is that with a little dedication, anyone can develop this mindset.How do you live like a rich person? ›
How To Live a Rich Life Without Lots of Money
- Learn to accept yourself. ...
- Become creative. ...
- Stay authentic. ...
- Do what you love. ...
- Stay gentle. ...
- Become generous. ...
- Build relationships.
- Avoid a Self-Fulfilling Prophecy. ...
- Adjust the Timeline. ...
- Get Psychoanalytic. ...
- Tell Yourself a Different Money Story.
- Focus on your goals. ...
- Get comfortable with always learning. ...
- Put yourself out there. ...
- Be patient. ...
- Accept mistakes as they come. ...
- Don't forget about sleep. ...
- Keep growth in mind. ...
- Stop making excuses for yourself.
Even highly paid people know that the money they earn from “working” is just the tip of the iceberg.) The rich DON'T work for money. They make their money work for THEM. Rich people grow up knowing that wealth comes not from work, but from LEVERAGE. They invest their money and the investment vehicles do all the “work.”What does the rich have money work for them mean? ›
Rich people are said to make money work for them. Instead of just working and relying on income, a rich person would take a proportion of their income and invest it. Compounded interest works in favour of the rich.Why do people want to be rich? ›
Why We Want You to Be Rich.
|Authors||Donald Trump Robert Kiyosaki|
|Media type||Print (Hardcover)|
Kiyosaki defines an asset as anything that puts money in your pocket. A liability is anything that takes money out of your pocket. The big mistake that poor and middle class people make, according to Kiyosaki, is spending their lives buying liabilities instead of assets.How do rich people get rich? ›
No matter how much their annual salary may be, most millionaires put their money where it will grow, usually in stocks, bonds, and other types of stable investments. Key takeaway: Millionaires put their money into places where it will grow such as mutual funds, stocks and retirement accounts.What do most rich people do for work? ›
1. Banking and finance. More ultrawealthy people work in banking and finance than any other industry, according to Wealth-X. JPMorgan Chase CEO Jamie Dimon is among the 19.8% of wealthy people worth over $5 million who made their money in the financial sector.
A wealth mindset means spending less, making wise investments, and looking for ways to improve financial standing with minimal risk. The good news is that with a little dedication, anyone can develop this mindset.How can you tell if someone is rich? ›
How to Tell if Someone is Rich - YouTubeWhat net worth is considered wealthy? ›
How much money do you need to be considered rich? Well, according to Schwab's 2021 Modern Wealth Survey (opens in new tab), Americans believe it takes a net worth of $1.9 million to qualify a person as being wealthy.What Jobs will make me rich? ›
Top 10 Jobs That Make You Rich
- Doctor. ...
- Surgeon. ...
- Investment Banker. ...
- Corporate Executive. ...
- Petroleum Engineer. ...
- Psychiatrist. ...
- Data Scientist. ...
- Research & Development Manager.
- You started making money at a young age. ...
- You're an overachiever. ...
- You're really, really good looking. ...
- You possess a sense of urgency. ...
- 6 You're focused more on earning than saving. ...
- You keep an open mind.
A house, like any other object that comes into your possession, is classified as an asset. An asset is something you own. A house has a value. Whether you assign the value as the price at which you purchased the house or the price at which you believe you can sell the house, that amount is how much your house is worth.Why is buying a house not an asset? ›
But in the real world where you need money in your pocket to survive, if you have a house, paid for or not, that you live in, then it really isn't an asset. Instead of putting money in your pocket, it takes money out of your pocket in the form of a mortgage, utility payments, taxes, maintenance, and more.What are 10 assets that make money and can make you rich? ›
- Mutual Fund. Business and commerce allows us to create wealth with the aid of making an investment our money with those who are on the path to creating wealth. ...
- real estate. ...
- Fine art. ...
- Rare coins. ...
- Interest Paying Bonds. ...
- Dividend Paying Stocks. ...
- Farmland. ...
- Real Estate Investment Trusts (REITs)