An asset is defined as something that puts money in your pocket, and a liability is something that takes money out of your pocket. A house that you buy for your own need is not an asset as it drains money from your pocket and makes a bank richer. The same goes to the vehicles that you drive. A house that puts rental money in your bank account is an asset. From now on buy more assets and buy only liabilities from the cashflow that you take from your assets!
AMA
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