Some of the key distinctions is to look at where the people place the
items into the categories. To make it simpler liabilities could be
said to be continuous expenses. An affluent person would consider
their personal residence to be a liability and also a continuous
expense. A persons less financially agile would interpret the same
thing as an investment although that would well not be the case in a
housing bubble popping, as had happened recently.

Your own house would be an expense, but not another person's house if
they are renting it from you. The idea would be to own as many OPHs as
possible, other peoples houses and have them rent it from you.

A retirement plan of 401k is an expense. Your country may have different types of retirement plans but if they involve mutual funds it would go into an expense. You could even look at them as an indirect tax.

Another difference beside having the same thing in different columns
would be the form of expenses that find themselves prevalent. A less
affluent person would have substantial income locked into frivolous
expenses such as shoes or clothes as well as utterly damaging
liabilities such as cars. An affluent person would have the same
thing, except at a higher cost per item. The only thing is that a less
affluent person looks at the expenses and looks for ways to cut them
when things gets tough, but an affluent person looks at his income and
see ways to expand them, when things gets tough. The focus is on expanding the cloth by which to cut rather than living below the means that their inventory spreadsheets allow.

It is also highly probable that an affluent person is more strategic
about the form of frivolous expenditure he or she undertakes to
purchase. The affluent might spend more on food for a healthy and
trouble free living, thinking about rising future medical costs, but
pay less adherence to branded material goods which with few exceptions
rapidly lose value. A watch might gain value now, but a gold
bar is a safer bet. Food is also a good one as it does not lose value over time. It goes into your stomach at its current value and is used then and there.

The difference in the way people look at things probably has its roots stemming from the education that they have received. It is one that hinders and inhibits creativity and fosters a blind adherence to what other people say and to regurgitate useless trivia. It is no wonder that many of the world's richest people like gates and jobs are college 'dropouts' but who are far more successful by far. Another thing lacking in the system is that they force people to become mindless wage slaves who work for subsistence like farmers were in china instead of striking it out for themselves and take their fiscal responsibilities into their own hands. Without fiscal responsibility, they head to dangerous territories as evinced in how they make their sample expense report.

Your house is a liability, others are assets.