Who gets rich off $3 gas

DigitalDave said:
Not saying you are, how much of that net worth are actually considered assets that generate income for you, and how much are liabilities. Those are the factors that make you wealthy. From what I have seen from you, you own your own businsess and have smart people that do a lot of the work for you. I may be mistaken, but from what I have seen, you are wealthy. However, just simply stating 'My Net worth is greater' doesn't mean you are wealthy, just means you got a lot of stuff you can consider yours. That can be dryed up at some point in your life whereas assets make it so you can keep what you have and you'll have interest off of those assets to re-invest or pay bills on liabilities.
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I think I see where you are coming from.
I have enough assets that should not dry up that will let me live the rest of my life in comfort for me.
Which is all I really desire for myself.
My personal needs are pretty small if it comes down to that.

My personal money/assets are also protested from my business assets by LLC's. And I have zero personal debts. Vritually all my money/investments is govt insured, As I said very conservative investments.
so unless everything falls apart..Well then I would still get by with the ability to raise food and I have gold .
 
thanks digital dave for the junior high economics.
it is the only measure for where you are, nobody said it was where your going.
 
Topspin said:
thanks digital dave for the junior high economics.
it is the only measure for where you are, nobody said it was where your going.
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They don't teach that shit in school toppy. It's why 95% of the population are stuck in a rat race or poor. It's a simple concept but it's goes against what most people think. People think that if they have things they are rich, but really they just created a whole bunch of liabilities that they have to pay for.
 
Kids can understand this stuff in 5th or 6th grade. I got a Savings Bond from winning a science fair in 4th grade and learned about 'maturity' right then. We need to teach financial literacy, not just econ.
 
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