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!

[youtube P1KO_Sjsq2U]