This is the one — and ONLY — rule of wealth generation

Rule #1: You must know the difference between an asset and a liability.

Then buy or create assets.

If you want to be rich, this is all you need to know.

This is rule #1, it is the only rule.

This may sound absurdly simple, but most people have no idea how profound this rule is.

Most people struggle financially because they do not know the difference between an asset and a liability.

An asset puts money IN your pocket. A liability takes money OUT of your pocket.

Here’s a question for you…

Is the home in which you live an asset or a liability?

In my view, your house is a liability. Even if you own the property with no mortgage, you still pay property taxes, utilities, insurance, maintenance, etc. Therefore: money is being taken out of your pocket.

Once you understand this simple rule… all you have to do is follow it to gain wealth.

To your wealth building,

Albert X Ariho

Comments

First of all is the Fed.

Every week we talk about inflation calming down. This week there is a hint that maybe December’s interest hike might only be a 50 basis point move as opposed to the expected 75 basis point move. This is why you’ll hear markets “cheer, everything is still going up. They're seeing an end in sight to these interest hikes. This is important because if one can reasonably assume the interest rate peak is going to be in February, then they can start deploying their funds accordingly.

Why you should believe in Bitcoin 2023

Here is why we think Bitcoin is making a comeback SOON! So, you better get ready. Bitcoin is about to make the “geniuses” at the Federal Reserve look, well…. Stupid. Bitcoin is “halving” and there is a great chance this could be a major spike in the asset's price. But you need to be an early adopter to grab this opportunity. What is halving? It’s what makes the dollar look ridiculous! While the Federal Reserve an d Treasury are printing more money and devaluing the dollar, Bitcoin is doing the opposite. Bitcoin is making it twice as hard to mine and thus slowing down the number of Bitcoin in the world. Bitcoin is making itself more valuable. Take lessons Powell, you might learn something! To learn more about halving and profit from it, Don’t be a Powell, ILLBERTIC

NFT

And this segues into our NFT section where Coinbase is adding support for PYR (the primary utility token of the platform). It's called Vulcan Forged. Remember, anytime you see an exchange listing, you should sell. Because the coin will pump, and nine times out of 10, probably 99 times out of a hundred, actually, the thing's going to fade back to the pre-listing price. For that reason, I do think this is going to fall back to $3. It did bounce to $3.30, which is about 10%. But that's always a great time to sell. You can always buy back in for 10% less in theory. But you have no idea if the market is going to keep it going but statistically, that's just what happens almost all of the time. We also have OpenSea launching on BNB Chain. Now the funny thing is I never thought of BNB Chain as a very NFT centric chain. Solano is the other bigger player, and Polygon is catching up. Also, a lot of these other chains like Avalanche are trying to get onto it, but it's not rea...

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