You can nit-pic but I think it’s much wiser to go with Robert’s definition. Why? Because it promotes a wealth mentality. Your definition, ‘Put simply, an asset is something you can sell in exchange for money’ means not only is your home an asset but so is your pencil sharpener.

There’s a word missing from your discussion … the opposite of assets — liabilities. And I would suggest a liability is something that costs you money and an asset is something that makes you money. So, for example, if you lose your job, you can hang on to your positive cash flow rental property (asset) but not your ‘I can’t afford the payments any more’ home (liability). That’s all Robert is trying to convey and I believe it’s a powerful message and most people, unfortunately, can’t comprehend it. Just look at all the people that lost their homes in places like Las Vegas during the housing meltdown in the 2008 time frame. That meltdown and the ensuing financial disaster for many homeowners is the ‘poster child’ for what Robert is talking about.

I like to write. Six books so far. Working on number seven.

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