03 Apr '12, 7am

The place of residence you bought is not an asset?

Once upon a time, the apartment or house we bought is considered an asset. This fact is easily bore out if you enquire on the property your parents or grandparents have paid and its valuation now. Please do it without giving the impression you are eyeing their property before their “departure” – least you get written off from the will… Hey! Don’t blame me! The arrival of the great salesman in the form of Robert Kiyosaki came along and correctly offered the alternative view of using cash flow as a better guide to determining what should be an “asset”. Guess what? Some people’s pendulum now moved from the extreme right to the extreme left. I scratch my head whenever I read comments that we should not count our place of residence as part of our net worth or consider it as an asset if it’s not rented out… I wonder how these people value companies they invest in? Do they exclud...

Full article: http://thefinance.sg/2012/04/03/the-place-of-residence-yo...

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