[Keith]

Kiyosaki irritates me because he insists on redefining the common use accounting term "asset".

* Revenues - all the monetary value that is coming in
* Expenses - all the monetary value that is going out
* Assets - all the monetary value that you own
* Liabilities - all the monetary value that you owe someone else
* Equity - Basically your net worth (Assets - Liabilities)

He may have a point re: Assets that make you money vs assets that cost you money but they're all assets in accounting-speak. How hard would it have been to call them "empowering assets" and "disempowering assets" or something?! It's the accounting equivalent saying "Oh no, it's only a 'car' when it's usefully conveying you somewhere - if it runs you down on the sidewalk it's not a car".

Aside: I used the term "monetary value" rather than 'money' because it's not always cash. eg. As time passes your car (an asset) depreciates in value. This depreciation is an expense even though no money has left your hands because it's reducing your net worth. Similarly if your house appreciates in value that's revenue.