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Is your house an asset or a liability? Robert Kiyosaki said in his best-selling book Rich Dad Poor Dad that your house is not an asset it is instead a liability. The reason is that your house takes money out of your pocket every month while assets put money in your pocket every month.
In this video, I share my story of homeownership throughout the years and how I have used my primary residence as an investment vehicle to build my net worth and buy cash-flowing assets.
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To Becoming Great with Money,
Rich McCormack, CFP®
School of Personal Finance is an Investment Advisor registered with the State(s) of New York. All views, expressions, and opinions included in this communication are subject to change. This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy, or the completeness of, any description of securities, markets or developments mentioned. We may, from time to time, have a position in the securities mentioned and may execute transactions that may not be consistent with this communication’s conclusions. Please contact us at 914-299-3843 if there is any change in your financial situation, needs, goals or objectives, or if you wish to initiate any restrictions on the management of the account or modify existing restrictions. Additionally, we recommend you compare any account reports from SPF with the account statements from your Custodian. Please notify us if you do not receive statements from your Custodian on at least a quarterly basis. Our current disclosure brochure, Form ADV Part 2, is available for your review upon request, and on our website, www.schoolofpersonalfinance.com. This disclosure brochure, or a summary of material changes made, is also provided to our clients on an annual basis.
