But Ole Mali cant afford airtime worth 100 bob despite owning 60 acres of land while someone else can afford airtime worth 1k,drive an 850k premio,eat pizza while Olemali sleeps hungry despite owning the land.

Actually a UN report puts the Maasai as the most wealthy of Kenyans.. that is because when you convert all their land and animals into cash... VOOOOOOMMMMM! league ya Pattni.. na si Kamlesh but the recent Gold exporter..

The problem with us is not how we measure wealth but how we live with our wealth.. hence a fella in Loresho in a 10M house a 3M car and 10M in the bank, 1M every month is a millionaire.. In a given year his/her net worth is 50M...

One Maasai sold me a zilch of his land in Kajiado..Signed with his thumb, banked 10M, adjusted his shukas, and went back to herd his cattle.. He still has 100 such plots remaining (forgeting the livestock that ends up in Kiamaiko at 20000 a bull, 4000 goats and sheep).
No car, no loans, no health issues, no beer on Fridays, no kids to take to expensive schools (they rush to nearby DEB when they feel like).
I wonder what they do with all that money..

Some of us will dispose off that land to fellow Nairobians at twice/thrice the buying price and come here and post on how we made our first million.. ;-)

Life indeed is all about perceptions and satisfaction...

Personal cars and the house you live in (if you own it) are assets, but they are not investments. (A taxi/matatu/rental property is an investment and an asset). We need to differentiate the two. The fact that you spend money to maintain the personal car does not make it a liability, assets are expected to have maintenance/running costs.

You can review your class 6 business education notes if you are still contesting this.

didn't Kiyosaki file for bankruptcy just the other day

Ali Baba,
There is corperate bankruptcy and personal bankruptcy neither of them allow anyone to avoid significant fiscal responsibilities because either way you much prove to the courts that you cannot meet your obligations.

Mr Kiyosaki must have file corporate bankruptcy, chapter 11. You can argue that Mr Kiyosaki and his business are two separate entities.

No one who is able to service their debt can file for personal bankruptcy, it just doesn't happen, even if you manage to fool the courts, it is not even worth, the flag of bankruptcy cost more than how much it would cost to service the debt.

This is true, but not the full story. Ali Baba has a point. Many American corporations exploit the bankruptcy route, not because they are broke but to avoid difficult choices. Two examples:

1. Obama's rescue of the car industry required GM to declare bankruptcy, largely to avoid paying legacy costs.

2. American airline companies have been filing for bankruptcy for a similar reason. To shed such costs in order to compete with newer or European carears that do not have the same challenges.

In each case the tax payer picks up the bill. Capitalism is a very unfair system.

ROLLOUT:the flag of bankruptcy never had an effect on me.It did not cost me an extra dime,like you are trying to say.You know,you are trying to explore a topic you have never lived through....I have.

Very true. I have a Maasai friend with about 100 acres in Kiserian near the town. He has never sold an inch and he tells me his joy is to see his cows and goats graze on his land, once in a while he sells a bull at the local market and buys a small calf to replenish his stock. He keeps no money in the bank but is all tied in his stock. When diseases and drought strikes a number dies but the remaining regenerate the stock and life continues.

Assets=capital+liabilities.If one takes a 1m loan he is a millionaire.

ditto! The issue should be what constitutes your asset list and liabilities. Also, how to value your assets.