Espiya Newstand (Current Events, Classifieds, Events) > Current Discussions
Asset Vs. Liabilities - Why the rich get richer and the poor get poorer
naruto789544:
very interesting thread... there are lots to be learned in the exchange of ideas... i'll interpret this in a typical filipino life...
well based on my experience the reason is very simple on why this is happening... it is the basic reason that the rich have more and that the poor has almost none... to cite an example,
a. the rich have more to invest and spend meaning they can venture and look for other source of income since the needs of their families which includes food, shelter and clothing are met.. their assets are far greater than their liabilities..
b. the poor have almost none meaning what they earn sometimes even isn't enough to meet their basic requirements to live comfortably... the law of hand to mouth is what is their reality.. their liabilities are far greater than their assets...
i have seen this personally for so many years that's why i am able to say this... and i can justify that most of these people are working hard in order that they may improve their lives... but for me unless by a stroke of luck or divine intervention like winning in lotto, it will be very hard for them to uplift their lives at this generation...
this for me is the simple fact... although education and knowledge of financial strategies are an advantage in today's life, it will still boil down on how liquid are you to be able to improve your life...
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