Monday, July 18, 2005

Assets v. Liabilities

Well, the summer cold and flu season has arrived. Yes, I got hit by it.

In other news, I recently discovered a 'new' viewpoint on personal wealth: Things are predominately assets or liabilities. Wealth comes from buying assets, lack of wealth comes from buying liabilities. I'm going to put some more thought into this one...

I think time can be viewed in the same way - either we spend time on something that has value, or we spend time on something that doesn't. However, it can be difficult to quantify what activity "has value" and what doesn't. For example, writing in a blog can have value- it provides an avenue to learn how to articulate thoughts, it provides an opportunity to communicate, and it can provide a bit of impetus to journal or keep a diary. Ergo, blogging can be an asset. However, reading cases and studying for Law School is also an asset. Since there is a limit on how much Law School study time there is, the Law School study is a greater asset than blogging.

Looking back at what I just wrote, the example provided is pretty clear-cut.

Well, back to studies!

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