I suspect that the phrase came from “Rich Dad, Poor Dad”, where the writer explained the benefits…
Memphis Blues

Yeah, that’s not exactly one of my favorite financial advice books. By holding up Real Estate as the be-all, end-all, of assets, it kind of ignores the fact that housing ain’t exactly a mutual fund; it has ongoing costs of its own. (Upkeep, taxes, tenant management, vacancy risk, propery tax, etc.) And picking solid real estate investments is very difficult work, as countless amateurs found out during the real estate crash. If you want to invest as something less than a full time job, there are countless better options.

And a car, of course, may simply be a necessity. If you need transportation to a job, in that sense, a car is a solid investment, even if it doesn’t directly cut you a check every month.

P.S. And the actual people in the book are fictional caricatures; as best anybody has been able to research, “Rich Dad” simply never existed, and “Poor Dad” only vaguely resembles his father. Even if we ignore all that, the real estate advice itself isn’t very good either.

Show your support

Clapping shows how much you appreciated SirWired’s story.