Your Primary Residence is a Home, Not an Asset

While there isn’t necessarily a great debate raging, there are strong opinions on both sides of the question, “is a home an asset or a liability?” There are those that believe the home they live in should be considered an asset. However, there is a school of thought, popularized by Robert Kiyosaki (author of Rich Dad Poor Dad), that says a home, particularly one carrying a mortgage, is a liability. Before we go any further, let’s look at Merriam-Webster’s definition of these two key words: as·set [ˈa-ˌset also -sət] noun Read the Full Story