What are the real assets?

The ultrarich regard luxurious cars and lavish homes as liabilities that take money out of their pockets, certainly not assets.

Only the middle-class who are not really rich (but think they are) regard those as assets. They certainly are assets to their bank, not assets to themselves.

The Founder of Wal-Mart, Sam Walton who died leaving nearly USD 100 Billion in net worth drove a pick-up truck only during his entire lifetime!

Warren Buffett lives in the same house that he bought decades ago while he was not a Millionaire yet. And he's the World's richest investor.