Need Help? Contact the Espiya Helpdesk. CLICK HERE


Author Topic: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer  (Read 20982 times)

A7x

  • 2006 Vanguards
  • Active - Top Level
  • *
  • Posts: 898
  • Karma 149
  • Gender: Male
  • Shhh.. Be quiet you might piss somebody off..
We’ve all heard that saying “the rich get richer and the poor get poorer” and I have to say that this fact is actually very true. There is however a very good reason for this and it has nothing to do with rich people being bad and taking money away from poor people as the saying sometimes implies. It has mostly to do with financial education and spending habits.

What do the poor & middle class do?

The poor and middle class usually stay ‘poor’ and ‘middle class’ because of their mindset and financial education. Once they get more money than they need for expenses, they usually spend it on liabilities. The energy, time and labour from working for their money now effectively goes out the window and down the toilet. That money is never seen again. Here are some examples of purchases that the poor and middle class make with excess funds:

-Food
-Entertainment and entertaining others (parties etc.)
-Costly electronics
-Trips
-Household gadgets
-Clothes & jewellery
-Vehicles



What do the rich do?

-The rich purchase assets that create positive cashflow, portfolio and passive income. Some examples are:
-Stocks, bonds, mutual funds, etc
-Investment real-estate
-Businesses



Cash-flow is the amount of money that they have coming in on a regular basis from their income producing assets. It is how they retire rich and get richer and richer.

So how do they purchase expensive things like CARS,HOUSES,etc? They use their money to purchase assets and then use their portfolio or passive income from the assets to purchase the same liabilities that the poor and middle class do. The difference in their spending is that their money doesn't go out the window and down the toilet, never to be seen again. The money that the rich worked for, goes to creating more money. In this way, their money begins working for them and they can retire rich. The best part is that even after they retire, their money begins to compound and they get richer and richer!

yonipspy

  • 2006 Vanguards
  • Active - Top Level
  • *
  • Posts: 1520
  • Karma 68
  • screw the screw
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #1 on: September 22, 2014, 07:18:39 pm »
yes definitely very very true

gusto ko nga yung kay Rober kyosaki ba yon? meron ka den makukuha idea?
 ::)


online 24/7

TobleRONe

  • 2006 Vanguards
  • Active - Top Level
  • *
  • Posts: 4863
  • Karma 123
  • Gender: Male
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #2 on: September 22, 2014, 08:36:37 pm »
another big difference din is capital.

poor and middle class very limited capital. most walang magagamit na collateral para umutang sa mga institutions para makapagsimula ng business. since limited ang capital, madaling gayahin ang mga negosyo na itatayo, usually food cart, sari sari store, etc.

while rich people, kahit as low as 1m capital, mahirap ng gayahin ng poor people ang business na itatayo or investment ng mayaman ng mayaman  ;)

ang mga middle class earner kung kuripot lang sila or matipid, kapag umabot na ng 1m mark ang kanilang ipon, invest na agad nila sa real estate lalo na sa mga pre-selling na property kikita agad sila ng malaki.

A7x

  • 2006 Vanguards
  • Active - Top Level
  • *
  • Posts: 898
  • Karma 149
  • Gender: Male
  • Shhh.. Be quiet you might piss somebody off..
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #3 on: September 23, 2014, 01:37:49 am »
another big difference din is capital.

poor and middle class very limited capital. most walang magagamit na collateral para umutang sa mga institutions para makapagsimula ng business. since limited ang capital, madaling gayahin ang mga negosyo na itatayo, usually food cart, sari sari store, etc.

while rich people, kahit as low as 1m capital, mahirap ng gayahin ng poor people ang business na itatayo or investment ng mayaman ng mayaman  ;)

ang mga middle class earner kung kuripot lang sila or matipid, kapag umabot na ng 1m mark ang kanilang ipon, invest na agad nila sa real estate lalo na sa mga pre-selling na property kikita agad sila ng malaki.


In my opinion, financial education is the answer.. How can the poor and middle class raise a capital to buy asset producing cashflow? It's starts with paying yourself first. To pay yourself first means simply this: Before you pay your bills, before you buy groceries, before you do anything else, set aside a portion of your income to save. The first bill you pay each month should be to yourself. This habit, developed early, can help a person build tremendous wealth.

Why pay yourself first?

If you’re just getting started in the Real World, saving may seem impossible. Here are three reasons to start saving now instead of waiting until next year (or the year after):

1.When you pay yourself first, you’re mentally establishing saving as a priority. You’re telling yourself that you are more important than the electric company or the government. Building savings is a powerful motivator — it’s empowering.

2.Paying yourself first encourages sound financial habits. Most people spend their money in the following order: bills, fun, saving. Unsurprisingly, there’s usually little left over to put in the bank. But if you bump saving to the front — saving, bills, fun — you’re able to set the money aside before you rationalize reasons to spend it.

3.By paying yourself first, you’re building a cash buffer with real-world applications. Regular steady contributions are an excellent way to build a nest egg. You can use the money to deal with emergencies. You can use it to purchase a house. You can use it to save for retirement. Paying yourself first gives you freedom — it opens a world of opportunity.





-=Kurabo=-

  • Patience is a Virtue but Time is Gold
  • 2006 Vanguards
  • Active - Top Level
  • *
  • Posts: 5346
  • Karma 48
  • Gender: Male
  • Kurabo
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #4 on: September 23, 2014, 03:29:41 am »
one factor could be, Psychological wallet for example you're earning 20k then you get a bonus of 30k, more or less most of us would have the tendency to spend those 30k on cellphones,clothes,shoes etc. because subconsciously we are panicking inside and we'll force ourselves to spend it all so we can go back to our 20k identity level

Most poor people(including me) issue is dealing with the next problem without having the bandwidth to deal with what is down the pipeline. Financially, we have a little room for error and the magnitude and intensity of that effect is very different compared to the rich people but in the end, poor people always root of mistakes is the lack of proper planning.

it ain't over. . .till its over

TobleRONe

  • 2006 Vanguards
  • Active - Top Level
  • *
  • Posts: 4863
  • Karma 123
  • Gender: Male
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #5 on: September 23, 2014, 03:58:11 am »
its just perspective. kung sa tingin mo pay yourself first, that's your perspective.

sa tingin ko naman maging kuripot or just simply save.

both end result... you'll still have saved some money.

=====

sa mga mahihilig naman magspend, sa tingin ko, dapat they know how to say no.

no, i'm not going to buy a new gadget/phone. since my old phone still works.
no, i'm not going to buy new shoes. since yearly my brother in law sends me new shoes.
no spending too much on gimmicks.
no buying of unnecessary things.

A7x

  • 2006 Vanguards
  • Active - Top Level
  • *
  • Posts: 898
  • Karma 149
  • Gender: Male
  • Shhh.. Be quiet you might piss somebody off..
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #6 on: September 23, 2014, 05:56:16 am »
Kurabo is correct, proper planning or goal setting is a must if you want to change your financial status. I just want to share something I'm using right now to raise a capital..Not to brag or anything pero I hope maka tulong sa hindi pa naka rinig.. Basic lang po sya pero effective.. I heard meron 80/20 rule at meron din 70/30. I'm using 70/30 right now and at first I was hesitant pero after 6 months I was surprised sa na accomplish ko. Ang ibig sabihin nang 70/30 ay  sa 100% income ko every month I set aside the 30% I even break it down to 10% kasi gumawa ako nang 3 savings ang first 10% sa retirement savings ko ang 2nd sa investment savings (I play with this money to buy assets so even if I lose it I still have my retirement savings intact) 3rd is sa church. Ang remaining 70% naman ay budget ko na sa bahay, kuryente, tubig, atbp.. Nung una kinukulang ako kasi maraming utang pero I used it as motivation na humanap nang extra income na part time to compensate. after 6 months na feel ko yung effect nya I hope tuloy-tuloy na sya.. gaya nang sabi ni toblerone its all in the mind..

geshpenst

  • Pioneer
  • Active - Two Stars
  • *
  • Posts: 216
  • Karma 3
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #7 on: September 23, 2014, 09:58:18 am »
even if the poor and middle class buy/get assets, they will still not get to the level of the moderately rich. why?

ASSET MANAGEMENT.

laws are ever changing to suit the pockets of those in power. real estate brokers for example: instead of any 4-year course grad, they will now instill it's own course! as in you will graduate from college as a real estate brokerage grad! akalain mo nga naman: rerenta ka lang, kelangan pa ng middleman(aka the broker). dagdag gastos.

don't think about where the line is drawn (aka poverty line, financially educated, etc.), think about WHO draws the lines!
-Nassim Nicholas Taleb

peperahan lahat ng pwedeng perahan. that's the motto of the upper-class and those in power. and (for some)their kids are educated early by their parents' examples and seeing it suceed. see the TRAPOs (traditional politicians). that's the difference between the upper/elite class and everyone else. ika nga sa OUTLIERS, they have reached over 10000 hours of schooling in financial and asset education, iba ang pananaw nila tungkol sa pera and power.

see those who teach "financial education": they get their money from teaching others how to make money...  ::laffman
whether their student succeed or fail, wala na sila dun, they still get their money. smart, di ba?

A7x

  • 2006 Vanguards
  • Active - Top Level
  • *
  • Posts: 898
  • Karma 149
  • Gender: Male
  • Shhh.. Be quiet you might piss somebody off..
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #8 on: September 23, 2014, 10:52:22 am »
even if the poor and middle class buy/get assets, they will still not get to the level of the moderately rich. why?

ASSET MANAGEMENT.

laws are ever changing to suit the pockets of those in power. real estate brokers for example: instead of any 4-year course grad, they will now instill it's own course! as in you will graduate from college as a real estate brokerage grad! akalain mo nga naman: rerenta ka lang, kelangan pa ng middleman(aka the broker). dagdag gastos.

don't think about where the line is drawn (aka poverty line, financially educated, etc.), think about WHO draws the lines!
-Nassim Nicholas Taleb

peperahan lahat ng pwedeng perahan. that's the motto of the upper-class and those in power. and (for some)their kids are educated early by their parents' examples and seeing it suceed. see the TRAPOs (traditional politicians). that's the difference between the upper/elite class and everyone else. ika nga sa OUTLIERS, they have reached over 10000 hours of schooling in financial and asset education, iba ang pananaw nila tungkol sa pera and power.

see those who teach "financial education": they get their money from teaching others how to make money...  ::laffman
whether their student succeed or fail, wala na sila dun, they still get their money. smart, di ba?


Again, the answer goes back to becoming financially educated. Yes, you are correct the subject of money was never taught in school. School teaches you how to become an employee. "To work for money." "To work for the rich." The world is full of people na gusto makalamang nang kapwa yes, thats always given. But if you educate yourself, stop blaming the government or other people and start to take control of your life then you will find peace and financial freedom that you've been looking for.  Sometimes, we let life pushes us into submission. Deep down we are terrified of taking risks. We really wanted to win, but the fear of losing was greater than the excitement of winning. Deep inside, you and only you will know you didn't go for it.
« Last Edit: September 23, 2014, 11:03:08 am by A7x »

geshpenst

  • Pioneer
  • Active - Two Stars
  • *
  • Posts: 216
  • Karma 3
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #9 on: September 23, 2014, 12:41:36 pm »

Again, the answer goes back to becoming financially educated. Yes, you are correct the subject of money was never taught in school. School teaches you how to become an employee. "To work for money." "To work for the rich." The world is full of people na gusto makalamang nang kapwa yes, thats always given. But if you educate yourself, stop blaming the government or other people and start to take control of your life then you will find peace and financial freedom that you've been looking for.  Sometimes, we let life pushes us into submission. Deep down we are terrified of taking risks. We really wanted to win, but the fear of losing was greater than the excitement of winning. Deep inside, you and only you will know you didn't go for it.


and that's the thing: WHO GIVES THAT "FINANCIAL EDUCATION"? what incentive do they gain from teaching "us" (aka the masses) ? what are they teaching? (aka are they leaving something out? leading us to another viewpoint that supports their motives?) why the hell should we trust WHAT THEY ARE SAYING?

that's the basic difference between the heirs and the ones getting their "financial education". the heirs do not just hear what their elders say, but WHAT THEY DO, HOW THEY ACT. and they've felt the consequences of those actions/decisions made by their elders (either positive or negative) in their daily lives before. compare that to a "financial education" student that learns in a classroom/hall during a seminar. a big difference.

i can teach you how to drive, but i cannot tell you what to do in a specific situation unless I'M ALSO THERE. not 'was there', but ALSO THERE.same with that financial edumacation.... ::laffman

why the hell would they help you earn money..? unless THEY also NEED YOUR MONEY...

question is, are you guys going to that "financial education" getting the most bang for your buck? or in the end will just be screwed over?

learn the rules/laws, see the people themselves IN ACTION, is the best way to learn, and sadly not allowed by most who push "financial education"...   smoking::

dweizz

  • Active - Top Level
  • ***
  • Posts: 756
  • Karma 35
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #10 on: September 23, 2014, 12:50:28 pm »
okay lang yan maging empleyado sa umpisa.. sa umpisa... tiis tiis lang muna at umiwas sa mga luho... mag ipon para mapaayos bahay at magparenta ng kwarto... kapag nakaipon ulit, bili ng lupa, tapos patayo ng apartment... ganyan ginawa ko sa buhay ko ... ngayon 2 years na akong tambay... walang risk pero maliit din reward... pero sapat na sa akin ganung income... kung gusto mas malaking income, magtayo ng business talaga... pero masyado na akong tamad para sa ganuong bagay... nakatikim na kasi ng buhay tambay wahaha... college pa lang ako noong nabasa ko rich dad poor dad... laking tulong talaga... bago mag-30 financially free na

A7x

  • 2006 Vanguards
  • Active - Top Level
  • *
  • Posts: 898
  • Karma 149
  • Gender: Male
  • Shhh.. Be quiet you might piss somebody off..
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #11 on: September 23, 2014, 01:47:50 pm »
Life isn’t fair. No one ever said it would be. But life is what you make it. If you play the blame game, it’s hard to win at life. Today, it’s also clear that people are playing the blame game and losing at life. In these hard times, people want to blame the rich for their problems. Because life is not fair, people are looking at those who have an unfair advantage and wanting to even the playing field. The problem with this blame game is that it takes an entire class of people and pits them against another class of people. It creates tension and aggravation. But it doesn’t create any solutions. And it goes both ways. The poor blame the rich. And the rich blame the poor.

Money doesn’t make you successful.

Are there some people among the rich who are part of the problem? Yes. Are there some people among the poor who are part of the problem? Yes. Classes aren’t the problem. People are.

There are rich people who are not successful. Maybe they inherited their money and waste it frivolously. Maybe they got it through crooked means. Maybe they won it and never earned it.

There are also poor people who are the cause of their own financial failures. They don’t work hard. They don’t educate themselves. They don’t have any ambition.

But this isn’t true of all the people in those classes. Only some.

The truth is that whether you’re rich or poor, the amount of money in your bank account isn’t what makes you successful.

What makes you successful is building something of value to others. Most often this is done through investing and business, which is why money follows. But it’s not the money that makes the success — the money is simply a sign of success. Rather it’s the initiative and end-product of entrepreneurs or investors that makes a success because they bring value to the world.

Successful people solve problems. They provide jobs. They fund new ideas and initiatives. They take risk so that they and others can benefit. Sometimes this makes them rich. Sometimes it makes them poor. But they always move forward and never blame others.

The solution isn’t to punish them for being successful in order to reward those who aren’t successful.


Play by the new rules.

Ultimately, the difference between successful people and those that aren’t successful is that, while they both understand life isn’t fair, they react differently.

Those that aren’t successful play the blame game and make others the source of their problems. They’re always at a disadvantage because they never take the time to create their own advantage. They’re too busy waiting for it to be handed to them.

Those that are successful understand that an unfair advantage exists and they do all they can to create their own unfair advantage through financial education, which they use to build business and invest successfully — to create solutions. Successful people understand that life is what you make it.

If you’re feeling like life isn’t fair, and if you’re blaming others for your problems, I want to encourage you to change your mindset. Begin today to instead look at yourself and think through what you can do to change your own situation. Invest in your financial education.  Seek out new opportunity.

You can see the world as one of scarcity or one of abundance. You can play the blame game or the solutions game. It’s your choice.

BlueAlphaZero

  • 2009 Cavaliers
  • Active - Top Level
  • *
  • Posts: 3860
  • Karma 213
  • Gender: Male
  • We would like you to know a few things.
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #12 on: September 23, 2014, 02:04:59 pm »
Kurabo is correct, proper planning or goal setting is a must if you want to change your financial status. I just want to share something I'm using right now to raise a capital..Not to brag or anything pero I hope maka tulong sa hindi pa naka rinig.. Basic lang po sya pero effective.. I heard meron 80/20 rule at meron din 70/30. I'm using 70/30 right now and at first I was hesitant pero after 6 months I was surprised sa na accomplish ko. Ang ibig sabihin nang 70/30 ay  sa 100% income ko every month I set aside the 30% I even break it down to 10% kasi gumawa ako nang 3 savings ang first 10% sa retirement savings ko ang 2nd sa investment savings (I play with this money to buy assets so even if I lose it I still have my retirement savings intact) 3rd is sa church. Ang remaining 70% naman ay budget ko na sa bahay, kuryente, tubig, atbp.. Nung una kinukulang ako kasi maraming utang pero I used it as motivation na humanap nang extra income na part time to compensate. after 6 months na feel ko yung effect nya I hope tuloy-tuloy na sya.. gaya nang sabi ni toblerone its all in the mind..

I use something simpler that might be a bit small for some of my Espiya brethren but might work for others: the 50/30/20 Rule. 50% of your income goes to your needs; 30% goes to your wants; and 20% goes to your savings.

I change it up sometimes depending on the amount of money that comes into my hands but I don't deviate much from it. And to be honest, it helps a lot that my wants aren't that expensive. I have some leeway for my needs and my savings because of that.
Custodite fideliter quod quae credita est fideliter ad vos.

TobleRONe

  • 2006 Vanguards
  • Active - Top Level
  • *
  • Posts: 4863
  • Karma 123
  • Gender: Male
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #13 on: September 23, 2014, 10:12:47 pm »
gaya ni dweizz that's what we did. ipon muna, then ng magkaroon ng sapat na ipon yung property namin pinaconvert into an apertment. now meron kaming 4 door apartment. tambay din ako for 4 years na  ::laffman

additional income ko lang is pasideline sideline lang sa repair ng computer sa mga kamag anak ko, buy and sell  at salary ng wife ko.

tigerwing

  • Pioneer
  • Active - Top Level
  • *
  • Posts: 950
  • Karma 54
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #14 on: September 23, 2014, 10:44:15 pm »
Here is something to think about..

Ask yourself who's advocating all this Financial Literacy/independence stuff? Mostly are connected to large financial institutions like insurance corporations and banks right? When you become financially literate and is now in the quest for financial independence where do you usually invest? Starting your own business requires large capital and is very risky, real state again needs a lot of money.. For those just starting out where to they go? Stocks? mutual funds? How do you buy your stock and who manage your mutual funds?  ::lmao ::lmao

If you really think about it, this financial literacy thing is just a plot of this institutions to get money out of your pocket.. Im not saying that you should not invest (thats stupid, you should) But never expect too much, and don't always believe what you are told. Financial institutions will show you big numbers; growth rates, how much you'll have after X-number of years etc.. but the truth is, You investing your money benefits them more than it benefits you..

My take on this, Invest in yourself not in others. Put your money/savings with financial institution only for it not to be affected by inflation, so that it will retain its value overtime and probably earn as well, but this should not be the end of your investment, your money should not stay with them forever.. once you've save enough, its time to take that money away and invest it in your self. Get better education and learn stuff that will help you earn even more, then maybe start your own business when you feel you have the proper knowledge and its the right time...

tigerwing

  • Pioneer
  • Active - Top Level
  • *
  • Posts: 950
  • Karma 54
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #15 on: September 23, 2014, 11:06:25 pm »
gaya ni dweizz that's what we did. ipon muna, then ng magkaroon ng sapat na ipon yung property namin pinaconvert into an apertment. now meron kaming 4 door apartment. tambay din ako for 4 years na  ::laffman

additional income ko lang is pasideline sideline lang sa repair ng computer sa mga kamag anak ko, buy and sell  at salary ng wife ko.

Ganito din ginawa ng pamilya ko.. Di naman sa pagyayabang but now all of us can probably sit back, relax and do nothing.. Unfortunately, this only works if you have an already existing property that can be converted to an income generating asset. the saying "the rich getting richer" is applicable here since you already have something to begin with.. For those who have nothing (or very little) and only has "himself" as an asset, they really have to figure out a way to increase their income and manage it very well. Only then can they start thinking of buying apartments, lands etc as investments.

As for me, well lets just say I have to much of an ego and pride to just sit around and do nothing.. So here I am working my ass off in the 9-5 rat race...    ::lmao ::lmao

TobleRONe

  • 2006 Vanguards
  • Active - Top Level
  • *
  • Posts: 4863
  • Karma 123
  • Gender: Male
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #16 on: September 23, 2014, 11:29:21 pm »
Yung property naman is 300k lang. Sinuwerte lang na foreclosed property iyon. As for sa ginastos for building an apartment, 1m inabot some of the funds inutang sa mga kamag-anak. By 2006 nabayaran na yung mga utang.

Ang nagbenifit din sa apartment ay yung mgakamag-anak din namin na less fortunate. 3.5k rent for an up and down apartment in the metro.

Yung mayaman namin kapitbahay ginaya rin yung ginawa namin, namili rin ng property malapit dito. Now he has a 25 door apartment.

Kitang kita ang difference sa mahirap na nagsumikap. Compared sa mayamang walang kahirap hirap.

A7x

  • 2006 Vanguards
  • Active - Top Level
  • *
  • Posts: 898
  • Karma 149
  • Gender: Male
  • Shhh.. Be quiet you might piss somebody off..
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #17 on: September 23, 2014, 11:50:34 pm »
The keyword is "CASHFLOW" if you think hindi pa kaya mag invest sa 4 asset classes gaya nang real estate,stock market, etc.. you can always use your imagination and think of something na need sa lugar ninyo na you can provide..Be a problem solver.Once you can solve a problem in your area money will just follow.. know your "WHY" and you will find your "HOW". You can always innovate.. I'll give you a perfect example, I have a friend na walang wala talaga, what he has is his bicycle na ginagamit nya araw2 para pumunta sa trabaho nya as construction worker, now sa lugar nila problema ang transportation so ang ginawa nya nag ipon sya nang pera at bumili nang sidecar sa bike nya. Now, ang boundary nang trike or "tricikad" thats a visayan term not sure how you call it in tagalog" is 150pesos per day so sa isang buwan may P4,500 sya na kinikita sa bike nya. pina rent nya yung trike nya sa mga tambay na kilala nya rin na gusto kumita.. nang naka ipon na sya bumili pa sa nang isa hanggang naging sampo at kumikita na sya nang P45,000 as passive income sa tricikad business nya.. now he has 15 tricikad and 20 tricycle.. Money is just an idea, our brain is the most powerful computer in the world. You can choose to become extremely wealthy beyond your wildest dreams or you can choose to be poor. At the end of the day, ikaw parin ang mag decide kung ano gusto mo mangyari sa buhay mo.. 

TobleRONe

  • 2006 Vanguards
  • Active - Top Level
  • *
  • Posts: 4863
  • Karma 123
  • Gender: Male
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #18 on: September 24, 2014, 12:09:09 am »
^
buti walang gumaya sa kanya. dito kasi sa manila kapag maliit puhunan mo madaling gayahin.

for example na lang yung buko shake, afew years ago naging boom ang buko shake dito. at first sa malls mo lang makikita after a few months bawat kanto yata meron na nagtitinda ng buko shake.

=====

tama rin si a7x, look kung ano need ng community. from there saka ka maginvest. basic necessity/needs ng tao ay ang food, shelter, clothing. kaya apartment ang ipinatayo namin.

aside from sa mga nabangit kong other source of income, about a year ago nag-umpisa rin akong mag-alaga ng dog. shitzu lang muna kasi 1st time ko pa lang mag-alaga ng aso at para di rin ganoon kalaki ang investment. hopefully by next year, madagdagan ng other breeds. with dog breeding although mura at madaling gayahin, di kinakagat ng ibang pinoy ang ganitong negosyo kasi time consuming, gusto ng karamihan ng pinoy easy money. kung tutuusin easy money rin ang dog breeding. sa first year ka lang maghihirap mag-alaga ng aso, kapag nanganak na lalo na kung marami ang breeders, easy money na. ang hirap na pagdadaanan lang ay maglinis ng kulungan daily  laffman::

ang target ko is at least 1 dog ang manganganak every month para kung gusto na ni misis magretire from work meron kapalit na source of income.

yonipspy

  • 2006 Vanguards
  • Active - Top Level
  • *
  • Posts: 1520
  • Karma 68
  • screw the screw
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #19 on: September 24, 2014, 12:35:52 am »
nice thread... more more share/idea please hehehe

like like  :applause


online 24/7

tigerwing

  • Pioneer
  • Active - Top Level
  • *
  • Posts: 950
  • Karma 54
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #20 on: September 24, 2014, 01:35:22 am »
As the saying goes "businesses exist to solve a problem". I you see a "problem" in your area, that's an opportunity to start a business.. Providing transportation or housing are examples..

@A7x

Your friend did the right thing. He invested time, effort and money to himself in his OWN business and is now benefiting from it. As I've said "invest in your self, not on others". He's a visionary and a risk taker as well as being lucky. Unfortunately, not everyone is like that nor can everyone become like that. Aside from capital and financial know-how, it takes CHARACTER to engage and succeed in business. Its not for everyone. I've seen a lot of people try and failed simply because its out of their character. Some people, believe it or not, are better off as employees. Does that mean these people are doomed? Of course not. You can save up then get better education like a Masters degree or a Phd which in turn will let you command a bigger salary. Some companies will even provide them for free if your a good employee. Then maybe later on acquire income generating assets like apartments, etc. when you can realistically afford it.. 

Yes, management of cash flow is very, very important.. Everyone should learn how to save  but where you put your money and how you plan to use that money is very important as well.. The way I see it right now, with all this "financial independence" flying around, people tend to put their money on Stocks or Mutual funds (for as little as 5k you can invest) Yet most of them probably don't have a clue on how this system works much less a plan on what to do with the money they save.. They simply hope that it will grow and grow and become large enough for them to retire.. This kind of thinking for me is wrong. Yes, you will probably have several millions when you retire say at age 60 but you will have to work your ass till then and don't forget that the value of money as well as the standard of living continually change as well, its possible that even with your millions, its still not enough to fully retire. Then, who do you think will truly benefit from the money you save? The institutions you gave it to.. Chances are they will use it to gain more assets for themselves.           

A7x

  • 2006 Vanguards
  • Active - Top Level
  • *
  • Posts: 898
  • Karma 149
  • Gender: Male
  • Shhh.. Be quiet you might piss somebody off..
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #21 on: September 24, 2014, 05:55:49 am »
As the saying goes "businesses exist to solve a problem". I you see a "problem" in your area, that's an opportunity to start a business.. Providing transportation or housing are examples..

@A7x

Your friend did the right thing. He invested time, effort and money to himself in his OWN business and is now benefiting from it. As I've said "invest in your self, not on others". He's a visionary and a risk taker as well as being lucky. Unfortunately, not everyone is like that nor can everyone become like that. Aside from capital and financial know-how, it takes CHARACTER to engage and succeed in business. Its not for everyone. I've seen a lot of people try and failed simply because its out of their character. Some people, believe it or not, are better off as employees. Does that mean these people are doomed? Of course not. You can save up then get better education like a Masters degree or a Phd which in turn will let you command a bigger salary. Some companies will even provide them for free if your a good employee. Then maybe later on acquire income generating assets like apartments, etc. when you can realistically afford it.. 

Yes, management of cash flow is very, very important.. Everyone should learn how to save  but where you put your money and how you plan to use that money is very important as well.. The way I see it right now, with all this "financial independence" flying around, people tend to put their money on Stocks or Mutual funds (for as little as 5k you can invest) Yet most of them probably don't have a clue on how this system works much less a plan on what to do with the money they save.. They simply hope that it will grow and grow and become large enough for them to retire.. This kind of thinking for me is wrong. Yes, you will probably have several millions when you retire say at age 60 but you will have to work your ass till then and don't forget that the value of money as well as the standard of living continually change as well, its possible that even with your millions, its still not enough to fully retire. Then, who do you think will truly benefit from the money you save? The institutions you gave it to.. Chances are they will use it to gain more assets for themselves.         

I also do not recommend stocks or bonds for starters. it takes a long time before you can get your dividends.  When I say cashflow, think of an asset that has money coming in on a monthly basis whether you work or not on that asset just like my friend as an example.. Yes, it may not work for everyone but like I said it really depends sa need sa community where you belong. Use your imagination..

TobleRONe

  • 2006 Vanguards
  • Active - Top Level
  • *
  • Posts: 4863
  • Karma 123
  • Gender: Male
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #22 on: September 24, 2014, 06:04:22 am »
kaya nga ayaw ng ibang pinoy ang pagbebreed ng aso, kasi nga 1st year walang kita. assuming na gaya ko from puppy ako nagsimula.  laffman:: para ring stocks

waPakman

  • 2009 Cavaliers
  • Active - Three Stars
  • *
  • Posts: 464
  • Karma 0
  • Gender: Male
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #23 on: September 24, 2014, 06:36:16 am »
RICH DAD / POOR DAD  ???
"If you find yourself in a hole stop digging."

simpleman1225

  • I Am A Living Legacy To The Leader Of The Band
  • Mature (18+)
  • Active - Two Stars
  • *
  • Posts: 267
  • Karma 149
  • Gender: Male
  • Share information so that others can benefit.
Re: Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
« Reply #24 on: September 24, 2014, 07:33:13 am »
Here is a nice video for this topic which explains why rich people become richer and poor people become poorer. It is the way how they spend their money.

[youtube]http://www.youtube.com/watch?v=zwcHTZo2G00[/youtube]
"You know my name, not my story. You've heard what I've done, not what I've been through."