BTW: Randy is a photographic artist – not entirely to my taste – but, definitely talented and novel.

@ MoneyMonk – I’m not sure that RK’s point was that your home equity is an asset: you see, it doesn’t put money INTO your pocket – unless it (a) appreciates and (b) you sell/downsize – like a rental does, ergo you should find a way to release/use that equity …

To the RK point, I believe your home equity is the only asset and of course that can change

But on the topic of whether a house is an asset or a liability, I think the whole point of Kiyosaki’s book was that traditional thinking will leave you poor — only a fool does the same thing and expects different results.

Anyone who has a problem with redefining terms has so completely and tragically missed the point of the book.

That is not to say that Ramsey’s debt snowball doesn’t work, it just isn’t as efficient/effective from a person who pays their highest-interest loan off soonest and measures their wealth by Net Worth instead of cash on hand.

Some people need to be treated like children because adopting a Net Worth mindset is too complicated for them. If that gets them started on the road to FI, then fine. Eventually, if they stick with the program of learning about finance rather than just doing what Dave Ramsey says, they’ll see how Ramsey was exactly what they needed at the time, and someone they will not follow in the future.