Owais Sultan stated in a post recently that, “I was recently watching an interview of the author of the book “Rich Dad Poor Dad” and he stated clear cut points on why the rich stay rich and middle-class end paying bulky taxes.
To him, the main difference between both is the rich keeps on investing (On himself or creating assets) and in the books of accounts have more expenses to show rather than profits.
But in reality, investment is a bigger gain than a monetary profit. It not only lowers down the taxes you pay but also creates an asset for you.
On the other hand, the poor/middle-class guy focuses on either saving money or end up spending all on the household stuff.
So, the main takeaway from this is to focus on building assets rather than savings because your assets will themselves create saving for you plus make investments either big or small don’t matter every venture will teach you a lesson that will help you throughout your life”.