Most Americans define ‘rich’ as anyone that makes more money than they do. I define it like this:
Generally speaking, wealthy people get and stay rich because they make smart decisions with their money. They create a money making machine by purchasing assets, not liabilities. An asset makes you money, a liability costs you money. Successful people buy assets like real estate, fine art, and businesses. But what if you are not good at business?
Unlike nobody, I don’t like being told what to do. Who does? Maybe that’s why I hate Monday so much. The thought of going to work for someone else and ultimately being at their mercy rubs me wrong.
A few months ago my old van finally bit the dust. I’d paid cash for it several years earlier and the van had been a reliable and a fairly efficient form of transportation, as far as cars go. But as the miles added up, so did the maintenance and repairs till it go to the point where I couldn’t justify putting more money into keeping the van on the road. Losing my second car was the perfect excuse to give public transportation a try.