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How to live comfortably
Rank: Member Joined: 11/6/2006 Posts: 276
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build a company from scratch.. expand and be the best in the business...
then ask the public to give you more money to expand the company even further.. and like merali pay dividends when you feel like..
always talk.. valuation this.. valuation that..
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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mwenza wrote:House and land are not assets? Pliiiiiiiiiz!!!! Yes, the 5million bob home you've build for your family is not an asset. You pay for power, watchman, electricity, water, service charge and the loan on it plus you cannot sell it because of the sentimental value you'll have attached to it in 5yrs. As someone said, if it's not putting money in your pockets then it's a liability. The piece you bought for 300k to grow tomatoes that earn you 1k per annum after deducting your costs is not an asset either.
BBI will solve it :)
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Rank: Member Joined: 4/7/2010 Posts: 130
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While i admire the courage of this posting, the truth is there are no universal principles of success and indeed happiness as well! These are deeply personal concepts and what may have worked for Roberty Kiyo"sucky" and the other "self-made" millionaires is by no means a global standard formulae.....my 2cents!
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Rank: Member Joined: 5/27/2010 Posts: 324 Location: nrb
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Yes you buy land at one M., speculating with it, by the time you need to sell it its fetching half M. the real moneymakers know that is not a definite asset. but to your evryday ordinaires, it is a great asset worth dying for.
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Rank: Elder Joined: 5/30/2009 Posts: 1,390
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2012 wrote:mwenza wrote:House and land are not assets? Pliiiiiiiiiz!!!! Yes, the 5million bob home you've build for your family is not an asset. You pay for power, watchman, electricity, water, service charge and the loan on it plus you cannot sell it because of the sentimental value you'll have attached to it in 5yrs. As someone said, if it's not putting money in your pockets then it's a liability. The piece you bought for 300k to grow tomatoes that earn you 1k per annum after deducting your costs is not an asset either. My house may not bring chapaa into my pocket,but it does save me rent You still pay for elec,water n security if you dont own but you rent a house So IMHO, Home=Asset What a wicked man I am!The things I want to do,I don't do.The things I don't want to do I find myself doing
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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kadonye wrote:My house may not bring chapaa into my pocket,but it does save me rent
So IMHO, Home=Asset @kadonye, Indulge me kidogo for argument sake. If you work for govt and they give you a house to live in during your term of service, would that be your asset? Saving you rent means you get to increase on your savings but if you invest that money then the money is the investment. Your home is not an asset and neither is your personal car.
BBI will solve it :)
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Rank: Elder Joined: 4/22/2009 Posts: 2,863
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If a house is not an asset then this sort of thread is what @qw...... calls " the most useless thread"IF YOU EXPECT ME TO POST ANYTHING POSITIVE ABOUT ASENO, YOU MAY AS WELL SIT ON A PIN
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Rank: Elder Joined: 4/22/2009 Posts: 2,863
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2012 wrote:mwenza wrote:House and land are not assets? Pliiiiiiiiiz!!!! Yes, the 5million bob home you've build for your family is not an asset. You pay for power, watchman, electricity, water, service charge and the loan on it plus you cannot sell it because of the sentimental value you'll have attached to it in 5yrs. As someone said, if it's not putting money in your pockets then it's a liability. The piece you bought for 300k to grow tomatoes that earn you 1k per annum after deducting your costs is not an asset either. I disagree. IF YOU EXPECT ME TO POST ANYTHING POSITIVE ABOUT ASENO, YOU MAY AS WELL SIT ON A PIN
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Rank: Member Joined: 11/6/2006 Posts: 276
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an asset.. puts money in your pocket...
if a house saves you money.. may be it put money in your pocket..
not all houses are assets..
mwenza if this matter perturbs you i think you missed out on reading a very important book.. rich dad poor dad by robert kiyosaki.. and that was only his first book..
so this is not the most useless thread.. it is you who needs to go back to investment kindergarten
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Rank: Elder Joined: 5/30/2009 Posts: 1,390
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2012 wrote:
@kadonye,
Indulge me kidogo for argument sake. If you work for govt and they give you a house to live in during your term of service, would that be your asset?
Of course this one is not an asset!If I build my house on my land, why would this be a liability?Bear in mind the rising rents...I have read Rich dad poor dad and I'm still not convinced.Just 1 hse sio hao kila place. What a wicked man I am!The things I want to do,I don't do.The things I don't want to do I find myself doing
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