That Kiyosaki man says a house is a liability because once you have purchased it you'll just be pumping out cash on electricity bills, painting, mowing the lawn, water bills, repairs to breakages, etc.
Check out www.dressandbagcouture.blogspot.com for couture tailoring and custom made handbags. --- On Thu, 3/10/11, [email protected] <[email protected]> wrote: From: [email protected] <[email protected]> Subject: RE: Money and wealth To: [email protected] Date: Thursday, March 10, 2011, 7:22 AM >From that defination, Economic benefit includes using the house, so if u r >stayng in that house u r deriving economic benefit, if u r not staying in it >and renting it out u get rentals from it, and that is economic benefit. U can use ur title deeds to secure other transactions, thats economic value. I believe a house is an asset. -original message- Subject: Re: Money and wealth From: Lisa Chituku <[email protected]> Date: 10/03/2011 16:41 An asset is defined as such if it is PROBABLE that there will be an inflow of economic benefits due to ownership/existence/use of the asset amongst other criteria. And when it comes to a house don't forget opportunity cost - the money which purchased a house could have gone towards rent over a number of years (an expense) but was instead used to buy a house (an asset) On Thu, Mar 10, 2011 at 4:26 PM, Milton Jiri <[email protected]> wrote: > Resources that can be converted to cash isn’t. > > -----Original Message----- > From: [email protected] > [mailto:[email protected]] On Behalf Of simbarashe wekwete > Sent: Thursday, March 10, 2011 4:19 PM > To: [email protected] > Subject: Re: Money and wealth > > what is an asset? > > On 3/10/11, Milton Jiri <[email protected]> wrote: > > Well the explanation of just a house isn’t an assest if I remember well > is > > that when you lease it out or sell you are now in real estate. Shifted a > > level > > > > -----Original Message----- > > From: [email protected] > > [mailto:[email protected]] On Behalf Of Simanga Madhlabuta > > Sent: Thursday, March 10, 2011 3:40 PM > > To: [email protected] > > Subject: Re: Money and wealth > > > > Heather, in reality (the house) it is an asset, I agree, but when you > > taking a financially beneficial view to it, anything that costs you > > money to keep is a liability and anything that gives you money when > > you keep it is an asset. > > > > On Thu, Mar 10, 2011 at 3:03 PM, Heather Nota <[email protected]> > wrote: > >> I understand the house is not an asset thing because it costs money to > > maintain. Is the maintenance not more of an expense than a liability. > Hanti > > it can be dissolved to produce a cashflow in the future? > >> > >> On Thu Mar 10th, 2011 12:32 AM PST Milton Jiri wrote: > >> > >>>Thanks SMA, Rob Kiosaki says a house is not an asset! > >>> > >>> > >>> > >>>From: [email protected] [mailto:[email protected]] On > Behalf > >>>Of kudakwashe kamudyariwa > >>>Sent: Thursday, March 10, 2011 8:21 AM > >>>To: [email protected] > >>>Subject: Re: Money and wealth > >>> > >>> > >>> > >>>Thanks Sma, good stuff > >>> > >>>On Wed, Mar 9, 2011 at 5:02 PM, Tinashe Musere <[email protected] > > > >>>wrote: > >>> > >>>thank you my brother thats some sound advice there > >>> > >>> > >>>On 09/03/2011, Simanga Madhlabuta <[email protected]> wrote: > >>>> You need to redefine wealth if you are serious about being wealthy. > >>>> > >>>> Redefine wealth!! In studies of millionaires, people are surprised to > >>>> learn that most millionaires aren't doctors, lawyers, and corporate > >>>> leaders with big houses and fancy cars; they're people who religiously > >>>> live below their means and invest the surplus into assets, rather than > >>>> liabilities. Know what you're investing into. > >>>> > >>>> It's an asset if it will bring you more positive cash-flows, it's a > >>>> liabilities if it will cost you additional money to keep!! Get it? > >>>> > >>>> Example: My car is a liability because it takes money from me in > >>>> running costs as well as maintenance costs. An asset vehicle would be > >>>> one that I use for extra money, e.g, if I owned a cab, it would be an > >>>> asset because of the expected cash flows. > >>>> > >>>> The idea is to match assets and liabilities and to strike a balance. > >>>> Remember, the accounting equation??? > >>>> > >>>> Regards, > >>>> > >>>> Simanga > >>>> > >>>> > >>>> > >>>> -- > >>>> God is love... > >>>> > >>> > >>> > >>> > >>>-- > >>>Best Regards > >>> > >>>Tinashe Musere > >>>Love God, love His people! > >>> > >>> > >>> > >>> > >>>-- > >>> > >>>Rgds, > >>> > >>> > >>> > >>>KK > >>> > >>> > >>> > >>>whatever it takes > >>> > >>>-- > >>>You received this message because you are subscribed to the Google > Groups > > "tribewithavibe" group. > >>>To post to this group, send email to [email protected]. > >>>To unsubscribe from this group, send email to > > [email protected]. > >>>For more options, visit this group at > > http://groups.google.com/group/tribewithavibe?hl=en. > >>> > >> > >> > >> > >> > >> > >> -- > >> You received this message because you are subscribed to the Google > Groups > > "tribewithavibe" group. > >> To post to this group, send email to [email protected]. > >> To unsubscribe from this group, send email to > > [email protected]. > >> For more options, visit this group at > > http://groups.google.com/group/tribewithavibe?hl=en. > >> > >> > > > > > > > > -- > > God is love... > > > > -- > > You received this message because you are subscribed to the Google Groups > > "tribewithavibe" group. > > To post to this group, send email to [email protected]. > > To unsubscribe from this group, send email to > > [email protected]. > > For more options, visit this group at > > http://groups.google.com/group/tribewithavibe?hl=en. > > > > -- > > You received this message because you are subscribed to the Google Groups > > "tribewithavibe" group. > > To post to this group, send email to [email protected]. > > To unsubscribe from this group, send email to > > [email protected]. > > For more options, visit this group at > > http://groups.google.com/group/tribewithavibe?hl=en. > > > > > > -- > You received this message because you are subscribed to the Google Groups > "tribewithavibe" group. > To post to this group, send email to [email protected]. > To unsubscribe from this group, send email to > [email protected]. > For more options, visit this group at > http://groups.google.com/group/tribewithavibe?hl=en. > > -- > You received this message because you are subscribed to the Google Groups > "tribewithavibe" group. > To post to this group, send email to [email protected]. > To unsubscribe from this group, send email to > [email protected]. > For more options, visit this group at > http://groups.google.com/group/tribewithavibe?hl=en. > > -- You received this message because you are subscribed to the Google Groups "tribewithavibe" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/tribewithavibe?hl=en. -- You received this message because you are subscribed to the Google Groups "tribewithavibe" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/tribewithavibe?hl=en. -- You received this message because you are subscribed to the Google Groups "tribewithavibe" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/tribewithavibe?hl=en.
