Wednesday, July 17, 2019

Rich vs Poor



assets - aktiva
liability - odgovornost
acquire - sticanje

asset = something that puts money in my pocket
liability = takes money out my pocket


1) Poor thinking:
job > income

< expenses (food, clotes, drinks, cars)

Assets (none)

liabilities (house, mortgages, taxes, credit cards)

2) Rich thinking:

job > income > buy assets that create passive income

Assets that create passive income is: Business that doesn't require your presence, stocks, bonds, mutual funds, income-generating real estate, royalities %, notes.

Poor have:

income = expenses
assets < liabilities

Rich: Investing and minimize liabilities !

Rich have:

income > expenses
assets > liabilities

That is why rich are getting richer !

Assets generate expenses and reinvest to assets growing income.

Rich: Study hard so you can find company to buy !
Poor: Study hard so you can find a good copmpany to work for.

Rich: The reason I must be rich is that I have kids !
Poor: The reason I'm not rich is that I have kids.

Rich: Learn to manage risks with money !
Poor: Don't take risk with money.

Rich: How can I afford that ?
Poor: I can't afford that.

Poor have fear and greed !
Poor go to work and pay bills !

Poor earn money to be secure, comfort, pleasure and joy !
Poor peoples: profession is your income.

Rich  peoples: your assets is your income !

Rich: I no longer work for money, money works for me !









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