Secret of the Rich

The rich have assets.

What exactly is an asset? An asset is something that puts money in your pocket. Examples of assets are real estate or property, stocks and shares, mutual funds or unit trusts, time deposits or fixed deposits, bonds and business.

The rich have real estate that give them rental income.
The rich have stocks that give them dividends.
The rich have mutual funds that also give them dividends.
The rich have time deposits and bonds that give them interest.
The rich have business that generates profits.

The rich became rich because they build up their assets.
The rich stay that way because they keep accumulating assets.

Your house is not an asset because it does not generate income or put money into your pocket. Even paying it up fully does not make it an asset.

The rich have assets.