assets vs liabilities

school's initiative
The school doesn't teach you about money, so here in this blog, I'm going to tell you the rules the rich follow and how they view their real estate investing deals. We share what the rich focus on when they find properties to invest in and the major considerations they focus on. after looking and understanding my blog you would find that to become rich is very easy and to become poor is very hard .so, first, you need to understand about assets and liabilities.



ASSETS VS LIABILITIES:
"rich people buy assets and poor and middle-class people buy liabilities"
                                     assets add money to your pocket and liabilities take money from your pocket. The main difference between assets and liabilities is that assets provide a future economic benefit, while liabilities present a future obligation.
Examples of assets include cash, accounts receivable, inventory, prepaid insurance, investments, land, buildings, equipment, and goodwill. From the accounting equation, we see that the number of assets must equal the combined amount of liabilities plus owner's equity 

What Are the Main Types of Assets?

1. Cash and cash equivalents.
2. Inventory. ...
3. Investments.
4. PPE (Property, Plant, and Equipment)
5. Land.
6. Buildings.
7. Vehicles.
8. Furniture.
9. the land is classified as a long-term asset, and so is categorized within the classification of the fixed assets on the balance sheet. If anything, the land is considered to be the longest-lived asset, since it cannot be depreciated, and so has an essentially eternal useful life.
10. The biggest asset of your life is situated between your two ear-THE BRAIN, the more you invest in your brain the more knowledge and skill you would have.