The rich first invest the money in their hands and spend what is left.

The Poor first Spend the money in their hands and invest what is left.

What this means is the rich spend a larger percentage of their income on acquiring assets.
While the poor use a larger percentage of their income in acquring liabilities.

Acquring assets is the same as investment. Buying assets is not easy, at first you live as if you are broke but when the assets start yielding results people will be saying this guy is lucky.

The difference between the rich and the poor are their assets. The rich more assets while the poor have few assets.

I used to hear statements from some people like "those who have money". Even though you don't have enough money now if you can change your mindset and invest the little you have now on buying assets, tomorrow you Will be happy you did.

Talking about assets, asset differs from person to person. What is an asset can also be a liability to another person it all depends one how each person uses it.

Assets are simply those things that can help you to make more money, for example for example some people's car helps them to make more money while for some people it sucks money from their account.

It depends on what you are using it for.

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Thanks for your comment

the rich are simply getting richer because they have extra money to invest, while the poor have to use ALL the money they have to pay their FOOD/RENT/TRANSPORT etc

IAmHim1:
No
You were supposed to use the money you have to invest AND THEN use the returns on that invested money to pay for food, rent and transport
That's the difference between the rich and the poor: financial literacy

ARRANT GIBBERISH NONSENSE!!!!
anyone/everyone should have their life responsibilities met, before remotely thinking of investing money. if you invest your last rent/food/transport money then you are the dumbest person on earth. anyone/everyone should only invest the extra money they have AFTER THEIR LIFE RESPONSIBILITIES ARE PAID FOR.

what you wrote is exactly what deluded people write to feel good about their lives, but the reality of life is that:
A) the majority of people who invest their money on some yeye scheme, lose it all because they have no financial literacy. only yeye people think that you will invest today and tomorrow you receive divident and/or jackpot payout.
B) you are truly ignorant about the issue if you believe that having money makes you financially wise. many yeye ignoramus open businesses like restaurants and dont know that it would take months (most often years) before they will see a kobo of profit.. and thats "if the restaurant is still open then". the reason why so many businesses and investment flop is because too many dont know jack shiiit about how to properly run a business..
C) let me say it again (before some yeye ignorant people lose their life saving to yeye get rich quick scheme:
-if you dont pay your rent and instead invest your last money today THEN YOU AND YOUR FAMILY WILL BE HOMELESS
- if you dont pay for food and instead invest your last money, THEN YOU AND YOUR FAMILY WILL BE DEAD FROM STARVATON

IAmHim1:
Yeah
Dangote used the money he wanted to use to eat to open up his first business
Jeff Bezoz used his hospital bills to buy his first set of books because reading was More important to him than being alive

AGAIN, you ignorant people writing rubbish online to feel good about some yeye notion should STOP!!!
DANGOTE started his whole business empire from a single business that he opened with the LOAN GIVEN BY HIS UNCLE

JEFF BEZOS comes from a fairly middle class family, graduated from an Ivy league school, worked at an hedge fund in wall street before HIS PARENT LENT HIM THEIR RETIREMENT FUND SO THAT HE COULD START AMAZON.

only ignorant people believe that you should invest money that you need for your immediate survival. so if you invest your last food/rent money, how will you survive to even see that business reach 1 week?!?!? OLODO!!!

IAmHim1:
No

You were supposed to use the money you have to invest AND THEN use the returns on that invested money to pay for food, rent and transport


That's the difference between the rich and the poor: financial literacy

If hunger come kill am,who will reap the benefits from the investment? Abi you no know say stomach ulcer dey kill? Again if his landlord serve him quick notice,since he used his rent money for investment.. Oga will you accommodate him? Na who don meet basic needs ,fit invest o.. Except you wan kill yourself by yourself

BigYash:
If hunger come kill am,who will reap the benefits from the investment? Abi you no know say stomach ulcer dey kill? Again if his landlord serve him quick notice,since he used his rent money for investment.. Oga will you accommodate him? Na who don meet basic needs ,fit invest o.. Except you wan kill yourself by yourself

The guy matter dey tire me sometimes. Today he's wise tomorrow he's very foolish

Fattprince23:

The guy matter dey tire me sometimes. Today he's wise tomorrow he's very foolish