WHAT YOU WILL LEARN
Assets vs. Liabilities
In reality, an asset is only something that puts money in your pocket. But if you have a house, that you live in, then it takes money out of your pocket - that's the simple definition of a liability. This is doubly true if you don’t own your home yet. Then it’s the bank’s asset, and it is working for them, but it’s not earning you anything. Only if you have a house that you rent out to tenants, can it be called an asset.
Understanding if your investments are an asset or a liability will allow you to make the right investment every time.
Saving vs. Investing
Your parents or your grandparents might have done just that, and it worked. But today, banks pay much lower interest rates on your savings than the inflation rate. Why put your money in the bank where it will lose value when you can put it to work for you in assets?
If, like an business or an investor, you put that dollar to work for you, then you have a chance of a return that is much higher than inflation. You have an opportunity to make money instead of losing it.
Working for Money vs. Money Working for You
If you do well at your job, if you claw your way up the ladder, what is your reward? A small increase in pay and a bigger increase in taxes. It gets even worse if you work for yourself. You pay the highest taxes in the form of self-employment taxes.
The only way to avoid this is to be the owner of a big business or to be an investor, to put your money to work for you. That’s where the rich work and live. The system is set up to benefit the rich so they can keep their money while making sure you keep getting taxed.
Good Debt vs. Bad Debt
The rich carry debt. They generally carry a lot of debt. But they have assets that more than make up for the debt the carry. In fact, the rich not only carry debt, they also use it to get richer. The difference between the rich and poor when it comes to debt is understanding the difference between good debt and bad debt.
SANDTON CONVENTION CENTRE
161 MAUDE ST, SANDTON,
JOHANNESBURG, 2196, SOUTH AFRICA
EVENT DATE & TIME
28TH JULY 2018
9:00AM - 7:30PM
29TH JULY 2018
9:00AM - 7:30PM