Skip to main content

Posts

Showing posts from December, 2017

My two cents on new year resolution

What is the plan for the new year ? - need to think on what are we trying achieve during next year 2018 - basically the life goals - may be personal or professional - and also it should be realistic (not something like going to Mars ;)) Why we need a plan for the new year ? - basically a goal without a plan is a DREAM - And also should be able to measure (what you cannot measure, you cannot manage) How to prepare a new Year resolution/plan ? - Leave some buffer time - Make changes during the year (life is changing/evolving) - Plan is only for you (do not share it) - When a milestone is achieved, celebrate - Try to stick to the plan - otherwise no point of planing

Assets and Liabilities as Rich Dad, Poor Dad explains

I was reading "The rich dad poor dad by Robert Kiyosaki" here is a one point that he mentions on that. Basically Asset as he says is little bit different than on books. If something puts money in your pocket it is a asset. And Liabilities are the ones that takes money out of your pocket. OK for example a house or a car may seems like an Asset but it takes money out of you pocket to maintain them. But if you rent them or make them to make money at the end of the day you can convert it to a asset. Basically that what rich people do. They buy assets. Middle class buy liabilities (thinking those are assets) and stuff (a lot of them that not used or that not needed). Lower class buy to consume (basic needs like foods).