Is house asset, or Is car asset?
As whe know, When 50 Cent got rich, He bought many cars and expensive house, but it seems 50 nothing know about Robert Kiyosaki's best-seller book: 'Rich Dad, Poor Dad'. In 'Rich Dad, Poor Dad' Robert explained us, that 'House is not asset, house is liability', also 'Car is not asset, it is liability'. What is asset and What is liability? asset is thing, which put in money in our pocket and liability put out money, from our pocket.
Why house is liabilty? beacuse, We must pay many taxes for electricity, for gas and etc. When we bought car, we must pay for: petrol, amortization and etc. 50 bought big house. I love this statement:'Home Sweet Home', but big house bring much more taxes.