Essential Economics for Politicians

Lion Eyes said:
Google : ....is ones home an asset...

Your financial planner, real estate agent, and accountant all call your house an asset. But in reality, an asset is only something that puts money in your pocket. If you have a house that you rent out to tenants, then it’s an asset. If you have a house, paid for or not, that you live in, then it can’t be an asset. Instead of putting money in your pocket, it takes money out of your pocket. That is the simple definition of a liability.

This is doubly true if you don’t own your home yet. Then it’s the bank’s asset, and it is working for them, but it’s not earning you anything.

The simple definition of an asset is something that puts money in your pocket. This is accomplished through four different categories, one of which is real estate. When I say real estate, I don’t mean your personal residence, which is a liability. What I mean is investment real estate, which is a great investment because it puts money in your pocket each month in the form of rent.

https://www.richdad.com/Resources/R...3/rich-dad-scam-6-your-house-is-an-asset.aspx
Click to expand...
Richdad.com. LOL.
Btw I am one, but I don’t get my financial info from that website.
 
messy said:
Wrong. It’s an asset.
Under republicans, stocks are not an asset.
You’re a dummy. I gave you the definition of the word “asset.” Look it up.
Click to expand...
Maybe you can show us how you calculate your Return on your asset. Net Income/Total Average Assets
 
Art
Bruddah IZ said:
Maybe you can show us how you calculate your Return on your asset. Net Income/Total Average Assets
Click to expand...


art isn’t an asset either, is it, dummy?

I gave you the definition earlier...so why don’t you and Lion hunker down and take an extension class or something and stop reading those nonsense websites.
I’ve never seen such stupidity. You must both be broke.
 
messy said:
Art



art isn’t an asset either, is it, dummy?

I gave you the definition earlier...so why don’t you and Lion hunker down and take an extension class or something and stop reading those nonsense websites.
I’ve never seen such stupidity. You must both be broke.
Click to expand...
Lol! Run the numbers Rich Dad. Net Income/Total Average Assets is the definition.
 
messy said:
Richdad.com. LOL.
Btw I am one, but I don’t get my financial info from that website.
Click to expand...


The house you live in is not an asset.

The common understanding of an asset is something that we own. Even from an accounting perspective a house owned by a business entity would be reported on the asset side of the balance sheet.

Many people believe that the home they live in should be considered an asset. Let me offer a different perspective — that your home is a liability. This is a concept that was popularized by Robert Kiyosaki the author of ‘Rich Dad, Poor Dad’. The focus of this concept is on cashflow.

If we view things from a cashflow perspective, a few things change:

Anything that increases our cash balance would be considered an ASSET.

Anything that decreases our cash balance would be considered a LIABILITY.

In this alternate way of looking at things, an asset is something that puts money in our pocket and a liability is something that takes money out of our pockets.

Even after purchasing your house you keep paying EMIs, so in that sense its a liability. Even if we are assuming that you have paid off the loan amount, you will still have to incur expenses such as tax levies, insurance and maintenance costs.

But the value of the house is increasing - what about that?

Yes, generally the housing prices are on the rise, but that is not always the case. More importantly, you will receive the benefits of that increase only when you sell the property

So does that mean real estate is a bad investment?

Not necessarily.

If you rent out the property, and your rental income covers your expenses — Congratulations! Your house is now an asset!
https://www.quora.com/Is-owning-a-home-an-asset-or-a-liability
 
Is Your House An Asset Or A Liability?
Over the last few years, many Americans found out that owning a big house was more like living the American nightmare, not the American dream. What got most people into trouble was they failed to realize that, on balance, a house is a liability, not an asset.

Now you might be thinking I'm exaggerating to make a point. But I'm not. On balance, a house is something you constantly pump money into, and for the most part, won't get out of it what you've invested in it. That sounds like a liability to me, not an asset. So before you buy your next house, you should ask yourself "what's it going to cost me," as opposed to "how much can I make off of it." That will help you keep your housing costs in line with your income.
https://www.cbsnews.com/news/is-your-house-an-asset-or-a-liability/
 
Lion Eyes said:
The house you live in is not an asset.

The common understanding of an asset is something that we own. Even from an accounting perspective a house owned by a business entity would be reported on the asset side of the balance sheet.

Many people believe that the home they live in should be considered an asset. Let me offer a different perspective — that your home is a liability. This is a concept that was popularized by Robert Kiyosaki the author of ‘Rich Dad, Poor Dad’. The focus of this concept is on cashflow.

If we view things from a cashflow perspective, a few things change:

Anything that increases our cash balance would be considered an ASSET.

Anything that decreases our cash balance would be considered a LIABILITY.

In this alternate way of looking at things, an asset is something that puts money in our pocket and a liability is something that takes money out of our pockets.

Even after purchasing your house you keep paying EMIs, so in that sense its a liability. Even if we are assuming that you have paid off the loan amount, you will still have to incur expenses such as tax levies, insurance and maintenance costs.

But the value of the house is increasing - what about that?

Yes, generally the housing prices are on the rise, but that is not always the case. More importantly, you will receive the benefits of that increase only when you sell the property

So does that mean real estate is a bad investment?

Not necessarily.

If you rent out the property, and your rental income covers your expenses — Congratulations! Your house is now an asset!
https://www.quora.com/Is-owning-a-home-an-asset-or-a-liability
Click to expand...

If you pay off the mortgage, or inherit a house with no mortgage, is it an asset in your world?
 
Why Your House Is Not An Asset
From a cash flow perspective, it’s actually a liability.

The cruel truth for most people is that their home is in fact not an asset but rather a liability. The point of this article is not to discourage you from buying a home, but rather to make you aware that you could make a serious financial error if you are purchasing your home with the idea that it is an investment.

https://www.entrepreneurmag.co.za/a...sonal-finance/why-your-house-is-not-an-asset/
 
Booter said:
5 Things You Must Tell Your Grandma About the Ads on FOX News So She Doesn’t Get Scammed

1. DO NOT MAKE THE CASH CALL. EVER! IN FACT, DON’T CALL ANYONE. OR PICK UP THE PHONE. DEVIOUS PEOPLE WANT YOUR MONEY. AND THAT’S THE JOB OF YOUR GRANDKIDS.

2. THE SALVATION ARMY DOESN’T WANT THAT LOVELY CLAY AIKEN TO BE HAPPY. AND, THEY HATE NEIL PATRICK HARRIS, THAT NICE BOY FROM THAT FUNNY SHOW GRANDMA LIKES.

3. FRED THOMPSON SECRETLY HATES YOU. AND THAT RASCAL SCOOTER YOUR RODE IN ON.

4. YOU DON’T NEED A SPECIAL $10 DOLLAR BAG TO MAKE BAKED POTATOES



5. DON’T TRADE YOUR “WORTHLESS” ACTUAL MONEY FOR “VALUABLE” GOLD



https://www.huffingtonpost.com/jon-hotchkiss/5-things-you-must-tell-yo_b_4176284.html
Click to expand...



Not " our " problem if Liberals Grand Mothers have been misguided into watching
CNN, MSNBC and other MSM outlets posing as FOX News and let scammers take advantage of them....
Conservative Grand Mothers will educate Yours for a nominal fee with a Guarantee.

Poor poor tormented Booty.....
 
Lion Eyes said:
The house you live in is not an asset.

The common understanding of an asset is something that we own. Even from an accounting perspective a house owned by a business entity would be reported on the asset side of the balance sheet.

Many people believe that the home they live in should be considered an asset. Let me offer a different perspective — that your home is a liability. This is a concept that was popularized by Robert Kiyosaki the author of ‘Rich Dad, Poor Dad’. The focus of this concept is on cashflow.

If we view things from a cashflow perspective, a few things change:

Anything that increases our cash balance would be considered an ASSET.

Anything that decreases our cash balance would be considered a LIABILITY.

In this alternate way of looking at things, an asset is something that puts money in our pocket and a liability is something that takes money out of our pockets.

Even after purchasing your house you keep paying EMIs, so in that sense its a liability. Even if we are assuming that you have paid off the loan amount, you will still have to incur expenses such as tax levies, insurance and maintenance costs.

But the value of the house is increasing - what about that?

Yes, generally the housing prices are on the rise, but that is not always the case. More importantly, you will receive the benefits of that increase only when you sell the property

So does that mean real estate is a bad investment?

Not necessarily.

If you rent out the property, and your rental income covers your expenses — Congratulations! Your house is now an asset!
https://www.quora.com/Is-owning-a-home-an-asset-or-a-liability
Click to expand...


All the above fantastic Knowledge you just imparted on " Messy " will go in one ear and
drain out his puka.......
 
Hey, izzy and like-minded idiots.-- Here is some help for you --

https://www.moneymanagement.org/cre...al-balance-sheet-and-determine-your-net-worth

...start developing your balance sheet by listing all of your assets (financial and tangible assets) with the values.
  • Cash (in the bank, money market accounts, or CDs)
  • All investments (mutual funds, college savings accounts, individual securities)
  • Home value (the resale value of your home)
  • Automobile value (the resale value of your car)
  • Personal Property Value (resale value of jewelry, household items, etc)
  • Other assets
The sum of all of those values is the total value of your assets. Your goal should be to continually increase your assets.

Next, you can look at your liabilities, which should be everything you owe. Here are some common liability categories:
  • Remaining mortgage balance
  • Car loans
  • Student loans
  • Any other personal loans
  • Credit card balances
The sum of all of the money you owe is your liabilities. As you start to pay down your debt, your total liabilities will decrease.
 
espola said:
Hey, izzy and like-minded idiots.-- Here is some help for you --

https://www.moneymanagement.org/cre...al-balance-sheet-and-determine-your-net-worth

...start developing your balance sheet by listing all of your assets (financial and tangible assets) with the values.
  • Cash (in the bank, money market accounts, or CDs)
  • All investments (mutual funds, college savings accounts, individual securities)
  • Home value (the resale value of your home)
  • Automobile value (the resale value of your car)
  • Personal Property Value (resale value of jewelry, household items, etc)
  • Other assets
The sum of all of those values is the total value of your assets. Your goal should be to continually increase your assets.

Next, you can look at your liabilities, which should be everything you owe. Here are some common liability categories:
  • Remaining mortgage balance
  • Car loans
  • Student loans
  • Any other personal loans
  • Credit card balances
The sum of all of the money you owe is your liabilities. As you start to pay down your debt, your total liabilities will decrease.
Click to expand...

Nah, that’s wrong. Go to richdad.com to learn the real shit.
Not counting on Iz or Lion to set the world on fire, financially speaking! LOL.
 
espola said:
Hey, izzy and like-minded idiots.-- Here is some help for you --

https://www.moneymanagement.org/cre...al-balance-sheet-and-determine-your-net-worth

...start developing your balance sheet by listing all of your assets (financial and tangible assets) with the values.
  • Cash (in the bank, money market accounts, or CDs)
  • All investments (mutual funds, college savings accounts, individual securities)
  • Home value (the resale value of your home)
  • Automobile value (the resale value of your car)
  • Personal Property Value (resale value of jewelry, household items, etc)
  • Other assets
The sum of all of those values is the total value of your assets. Your goal should be to continually increase your assets.

Next, you can look at your liabilities, which should be everything you owe. Here are some common liability categories:
  • Remaining mortgage balance
  • Car loans
  • Student loans
  • Any other personal loans
  • Credit card balances
The sum of all of the money you owe is your liabilities. As you start to pay down your debt, your total liabilities will decrease.
Click to expand...

Not only that, if you declare to the IRS or a bankruptcy court that the house you own is not an asset, you will be subject to felony fraud indictment and prosecution.
 
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