Owning depreciating assets
To build sustainable wealth, you should invest in assets that appreciate in value over time. Or, generates earned interest over a long period of time. Cars, boats and houses break down over time and require regular maintenance to stay viable. This costs money. Cherished material items will maintain sentimental value but never generate financial value. Confer with a financial analyst to learn about first investing steps and learn more about why you have no money.
Mostly correct, but some people have no ability with no fault of their own. I was well prepared for retirement, but I also cared for people in trouble and brought a couple into the United States from the woman fired because she was not Catholic. Then because I refused to work at that one place (out of 20 countries where I did work) I was also fired. I saved enough to buy a property, but lived on social security. Then when a college student who lived in my house was forced out because she was interested in my life and reading the Bible, she was forced to sign a paper against me and put me in jail when I broke no law or did anything wrong, so I had to increase my mortgage to where I can save nothing.
In other words, based on my work in most states and 20 countries, I am very careful to avoid judgement by appearance or conditions.