Mwalimu wrote:Money is a medium of exchange and a measure of value. This maasais are stinking rich. Those who own large tracts of land are also rich. There is a point that kiyosaki was trying to make. You dont buy a car to store value but its a consumption or for personal use. Although afamily house is an asset I do not think its open for disposal, eg to pay college fees for the kids. To consider yourself a millionaire me thinks you should only add those assets that you hold for the purpose of storing value as opposed to those held for living(clothes, cars, family house etc). Less any debts.
We should differentiate between being rich and wealthy.Maasai's are not rich but wealthy....You can be rich(have 2 million in an account) but not wealth.
In my understanding being rich is when you have money than is not generating money/value.
Being wealthy is having money/properties than generate value/money(either on paper or in cash)
If Obiero did it, Who Am I?