Скачать или смотреть ASSETS vs LIABILITIES - What's the difference?

What's the difference between an asset and a liability? Let's break it down.

An asset - something that puts money IN my pocket.
A liability - something that takes money OUT of my pocket.

For example, purchasing a house. People often think of purchasing a house as a liability when it's actually an asset.

Why? That house is growing in value through appreciation, it's a tax shelter, and if you rent out it becomes a cash flow. It's one of the greatest assets you could acquire in life.

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