ASSET VS LIABILITY

ASSET VS LIABILITY

What the rich teach there children.

One day the son of a rich man who was a graduate approach is and the following discussion take place.

SON :- Dad may i speak with you .
DAD :- Go ahead .
SON :- among all my classmate i'm the only one
without a car, it is embarrassing .
DAD -: what did you want me to do .
SON -: i need a car i don't want to feel ood .
DAD -: did you have a particular car in mind .
SON -: yes daddy (smile).
SON -: $1600.
DAD -: i will give you the money but on one
condition.
SON -: what is the condition .
DAD -: you'll not use the money to buy a car but
invest it, if you make a lot of profit from
investment you can go ahead and buy car.
SON -: Deal.

Then the father gave him a cheque of $300, the son cash the cheque and invest in obedience to the verbal agreement that he had with his father.

Some months later , the father asked the son how he was faring , the son responding the his business is improving . the father left him.

After some month again, his father ask him about the business again and the son told him he was making a lot of profit from the business .

When it is exactly a year when he give him the money , the father ask him how far the business is as gone the son readily again and the following discussion took place.

DAD -: i can see you've make a lot of money.
SON -: yes daddy .
DAD -: did you still remember are agreement
SON -: yes.
DAD -: what is it ?
SON -: we agreed that i should invest the money
and buy the car .
DAD -: why have you not bought the car ?
SON -: i don't need the car again, i want to invest
more .
DAD -: Good, you have learnt the lesson i want to
teach you .
NOTE -: you didn't need the car, you just
want to feel among. That would have place
extra financial obligations on you . it wasn't
an asset then , but a liability .
-- it is very important for you to invest in your
future before living a king .
SON -: thanks dad.

Then the father gave him the keys of the latest model of car .

MORALS:
(1) Always invest first before you start living the
way you want .
(2) what you see as a need now may become a
want if you cant take a little time to get over
your feelings .
(3) Try to be able to distinguish between an
asset and a liability so that what you see as
an asset today will not be a liability for you
tomorrow .

THE DIFFERENCE BETWEEN THE RICH AND THE POOR IS THAT THE RICH LOOK FOR ASSET WHILE THE POOR LOOK FOR LIABILITY ...

                   IDENTIFY yourself 
                   BUILD       yourself 
                   BE               yourself

Thanks for reading @harris2017 cares