Owning Assets is the Key to Grow your Networth.
Day 10 of the 365 Days CHALLENGE to Build Wealth!
Assets put money in your pocket. Liabilities take money out-of-your-pocket… this is the best definition I have heard from Robert Kiyosaki.
When you sell a service or a product, you earn money… (asset)… but when you spend that money… you no longer have that asset… then, you go do another sell… and the cycle repeats.
When do you actually realize that in order to enjoy a more stable, secure and comfortable lifestyle you need to have enough for now and for later, for retirement time?
We got to own assets.
Assets that cashflow. Assets that never get depleted. Assets that appreciate in value over time. Assets that will take care of us financially forever… and those assets have to be enough so we never run out of money.
Most people are totally oblivious about this problem most face… and they don’t know how to fix it… because they are mainly focused in paying their monthly bills. That’s it.
FOCUS TO CREATE, BUILD, PRESERVE, ACCUMULATE AND MANAGE ASSETS THAT CASHFLOW!
Examples… rental real estate, investments, passive income business, digital assets.
One question most people never never never ask themselves: “How much do I need to own in assets to support me forever without running out of money?”
Everyone’s answer is different!
It will depend on your lifestyle level, your current age, the age you think you will live, your health, your family members you’re financially responsible for, etc…
What is that number for you?
1. Take the time to figure this out, to sort this out… doing so, you will gain a new direction, a focused idea of where you need to put your time and efforts to build what… your net worth… your wealth!
It is your responsibility.
- Watch these short series to further clarify why you need to own assets:
Asset Accumulation… WEALTH ACCUMULATION. Stream #665. (ratvlive.com)
Asset Creation… WEALTH CREATION. Stream #666. (ratvlive.com)
Asset Management… WEALTH MANAGEMENT. Stream #670. (ratvlive.com)
Asset Preservation… WEALTH PRESERVATION. Stream #671. (ratvlive.com)
P.S… To check out Day 1-9 of 365 Days CHALLENGE to Build Wealth… visit, www.GoNetworthing.com