Thanks to Rich Dad Poor Dad (then bankrupt Dad too!) many people know what are assets and what are liabilities…I am making ONE more distinction…. Assets: are those assets which increase your REAL NETWORTH (NW) Assets: that increase your nominal NETWORTH Assets: that are essential for your living and usage Assets (liabilities!): that are not […]
Have you ever wondered why people close to you – brother, sister, in laws, friends, cousins, colleagues, do not seek advice BEFORE they buy a financial product? It is my job to wonder why, so I do. Most of the people who consider me their financial adviser (or at least think I know more than […]
IN the last 3 weeks many people have asked me for my view on Robert Kiyosaki’s concepts. Surely there is a lot of merit in what he says, but there are many limitations too. Let me see: 1. He underestimates risk, and dramatically underestimates risk. 2. He takes one theory of investing in real estate […]
Many people known to me have read Robert Kiyosaki – largely the concept of Mr. North and Mr. South – famously known as Rich Dad, Poor Dad concept. There are many things that Kiyosaki says – let us take 2 of them today: 1. No money is made from real estate, equities, commodities….it is made […]
I know this may sound sacrilegious, but the housing loan (mortgage) interest deduction is the most over-rated tax strategy in existence. I constantly hear happy “homeowners“ boasting about how much money they “saved“ with their mortgage interest deduction. Asking your boss to reduce your salary would perhaps have the same effect. If you are in […]