The Worst “Assets” You Can Buy
Read this article on what not to invest in. Should be called Investing Myth Busting.
Growing wealthy is all about buying assets. Assets are things that pay you money, such that you can increase your earnings by purchasing them. Get enough assets in your portfolio and they can replace your paycheck so you can retire early (or allow you to keep working and make twice as much).
But many people mistake liabilities – things that cost money – for assets. They think they are investing their money when really they are spending it. Here are the top seven liabilities disguised as assets, from the best to the worst:
8. A big house.
The old adage goes that “Your home will be the biggest investment you ever make.” We are told (by broke people) that we should buy all of the home we can afford, taking out the biggest loan we can get. A big home, however, has big costs for heating and air conditioning, lawn and yard…
View original post 1,044 more words