Jeff Bezos 131Billion and Rockefeller 318 billion, Networth is Overrated, and every Guru out there tells you it’s the most important thing, but it’s really not.

What Exactly is your Net worth: A simple explanation would be the difference between what you owe and what you have in own. Assets – Liabilities

How do you calculate it: you don’t have to be an accounting to know this.
Assets make you money
Liabilities take your money:

Example: My YouTube camera is it an asset or a liability. Well does it make me money or does it take money away from me?
Its asset as long as its an investment that’s going to make money. Not a hobby.

My Credit Cards are they Asset or liabilities?
If I just bought a Rolex to show all my friends how much money I have. But I miscalculated so ill be paying for that roles for 10 years. That’s a liability, any interest is a liability.
– But if I am using the credit card to buy a product to resell, and I carry a balance, but the profits offset it then that’s an asset.

Real estate: asset or liability. If cash flow positive after the tenants cover all the expenses then it’s an asset if its taking money from me, then its liability.

Joke: Tommy but I’ll sell it eventually, and the value will grow. Yeah but you spent 30 years paying for it and imagine the Opportunity Cost.

Three Big Tips when it comes to Net worth
1. Overrated
– Don’t focus on the details, or trying to keep a positive net worth in the beginning. It’s almost impossible with how the system is set up.
– College will make you go negative and if it doesn’t its going to cost you a huge opportunity cost.
– Two reasons to go Fund your Business or Career no Exploring BS
Story: In my college days, I saved up a little over 10k, and I could have instantly paid off all my student loans. But instead, I borrowed another 7k to fund my business. If I had paid my debt back then, I wouldn’t be in the position I am now.
Good Debt Bad Debt: If you read books, they all say stay out of debt, but it all depends.

2. How to Grow
Streams of Income: Havings assets, business, or anything that makes you money is how you grow your networth.
Play offense, not Defense: Unless you work at IBM and make over 150k a year it’s going to be pretty hard to get funding for your big investment.
– So you have to start by hustling and even borrowing money to make more money.

3. Goal Setting
Focus On increasing your income And staying out Bad Debt: And your networth will Keep rising.
– So many people focus on staying positive that they cripple their growth

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