Buy revenue generating assets
You must know the difference between an asset and a liability, and buy assets. If you want to be rich, this is all you need to know. It is rule number one. 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.
Revenue generating assets – stocks, bonds, mutual funds, real estate (generating net positive income); instead of liabilities or vanity goods.