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/biz/ - Business & Finance

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9593653 No.9593653 [Reply] [Original]

How do i build my asset column?

>> No.9593826

Bamp

>> No.9593891

Need to know too anons

>> No.9593956

>>9593653
explain what you mean by asset column, i haven't read the book.

if you mean assets then buy anything that brings passive income. even a shitcoin masternode is an asset

>> No.9593979

>>9593956
Yea exactly that. I already own crypto so its out of the question.
What else?

>> No.9593980

>>9593653
By building your liability column.

>> No.9593992

>>9593653
this book is outdated. hes a boomer and it was written to teach how to use debt strategically This faggot is kinda part of the reason the housing market crashed

>> No.9594010

>>9593979
on top of my head:
>crypto masternodes
>crypto with divinds
>ads revenue from website
>mobile apps/games
>write a book
>produce a song
>affiliate marketing on amazon
>real estate
>buy shitty failed business and fix them
>etc

>> No.9594056

>>9594010
Have you done any of thesw execpt crypto?
>dont know how to make a useful website
>dont know how to program apps
>not a writer
>not a singer
>Maybe worth it but how do i start
>not enough money to buy re
>not enough money to buy business

>> No.9594139

Write kindle books

>> No.9594176
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9594176

>>9593992
Dude, housing is at record highs now. If you would have bought during the crash you would be doing great.

Still rich dad never gave great advice, it was more about getting you in the right mental frame of mind.

>> No.9594205

cash flow producing assets = real estate

He means only that and nothing else

crypto to him is equivalent to stocks. He'll talk about fiat being unstable, but he won't endorse crypto

He also is in debt to the tune of $600 million.

This is a species of the idea that, if you owe the bank $1000 its your problem. If you owe the bank $100 million its the bank's problem.

tl'dr Kiyosaki, just go into debt in real estate and shit on anyone with a real job, also, write books, podcast, etc.

>> No.9594232

>>9594056
i made android apps/songs/websites

>"b-but i can't do shit!"
it's a good time to start learning then

>> No.9594250

>>9593653
Once you understand that your house and car isnt an asset, you pretty much get everything else.

>> No.9594252

>>9594176
I think one line in that pic needs explaining. It fucks the most business owners. Using your business to pay your personal expenses.

Legally the business can pay for some of your personal stuff, like health care, retirement, etc. But what small business owners do is go to Costco buy a 10 pack of paper towels and give 2 to the business and take 8 home. Writing it all off for the business. Shit like that is easy to do and the IRS will catch you and royally fuck you for it.

They catch you because the IRS knows you don't stop at paper towels, but eventually more and more personal expenses are business expenses. They use software to estimate business expenses and use software to estimate your personal expenses.

Don't fuck yourself over stupid stuff. My aunt and uncle got fucked for doing this shit.

>> No.9594290

>>9594176
yeah now, at a time it wasnt. how old are you? if you are older then 25 you would remember how it was.

>> No.9594308

>>9594252
in my experience, they buy the paper towels and use them. They do this shit with big purchases like cars

>> No.9594336

>>9594308
Yeah it just all adds up. My uncle bought all the wood for a home pavilion under the business. In the end the IRS got them for about 20k in stuff they should have paid for themselves by taking a higher salary and paying taxes.

>> No.9594368

>>9594336
yeah, I wouldn't have done that shit. That's pushing it big time. He could have bought a extra then taken the rest home after the job was done. Whatever though im not a tax guy. I just know how a small business operates.

>> No.9594396

>>9594336
>>9594368

sorry i mean he could have purchased wood for a job at his business and gotten extra. Just in case mistakes happened. Wich, they do . then take the rest home. like i said though I'm not a tax guy. you can only do that shit so many times

>> No.9594529

>>9594396
Well that's the thing the business is diesel mechanics. They don't use much wood....lol

>> No.9594610

>>9593653
start by selling that crap!

>> No.9595537
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9595537

bump this thread needs to live long

>> No.9595755

>>9595537
Thanks man unfortunately not many suggestions

>> No.9596206

>>9593653
>rental properties
>low risk, low skill, location dependent small business like a laundry mat or carwash. NO RETAIL
>dividend yielding stocks
>royalties

Personally, I decided to buy a rental property. Best decision I ever made. I don't give a shit about how hot the market is right now because I live in the midwest.

>> No.9596309

>>9596206
Good ideas here.

>> No.9596781

>>9595537
because there is no magical way to gain assets you have to buy them for real money. what to buy is meh circumstantial.

>> No.9597134

>>9593653
If you read/heard the book, then you would know. Get off ur ass and DYOR

>> No.9597187
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9597187

Useful thread, have a bump

>> No.9597505

That book tl;dr:
>Rich people buy assets, poor people buy liabilities.