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on…dollar empire to run。 I am not as sophisticated because my empire is smaller; yet we e from the same simple foundation。 In the following pages; I offer to you the same simple line drawings Mike's dad created for us。 Though simple; those drawings helped guide two little boys in building great sums of wealth on a solid and deep foundation。
Rule One。 You must know the difference between an asset and a liability; and buy assets。 If you want to be rich; this is all you need to know。 It is Rule No。 1。 It is the only rule。 This may sound absurdly simple; but most people have no idea how profound this rule is。 Most people struggle financially because they do not know the difference between an asset and a liability。
〃Rich people acquire assets。 The poor and middle class acquire liabilities; but they think they are assets〃
When rich dad explained this to Mike and me; we thought he was kidding。 Here we were; nearly teenagers and waiting for the secret to getting rich; and this was his answer。 It was so simple that we had to stop for a long time to think about it。
〃What is an asset?〃 asked Mike。
〃Don't worry right now;〃 said rich dad。 〃Just let the idea sink in。 If you can prehend the simplicity; your life will have a plan and be financially easy。 It is simple; that is why the idea is missed。〃
〃You mean all we need to know is and we'll be rich?〃 I asked。
Rich dad nodded his head。 〃It's that simple。〃
〃If it's that simple; how e e
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