You can’t imagine all the excuses and convictions I hear about assets during the programs. People will say anything as long as they don’t have to invest in assets. It’s too complicated, I don’t understand it, I don’t have any money to invest and so on. They are just looking for excuses because they are afraid of investing because it’s new. New things are often scary. In this case assets are meant, things that can make you money.
In general Assets / possessions covers everything that is your property. In assets, any debt is initially ignored. If you have the full right of use and ownership, it is your possession. You are free to do with it as you please. You can sell it to someone else without any problems. Your possessions can be diverse. All tangible goods in and around your house for instance. If you have a second home or a boat in a port, these are part of your assets too. Your bank account may not be tangible, but you can make it tangible. The same goes for your equity portfolio. Whereas you used to have paper shares, nowadays this is all digital. In conclusion, there are various intangible things.. For instance, you may have a patent or have a concept or idea registered. Selling this isn’t always easy, but they do represent a value you can count as your assets.
The most important part is making money with your assets. The most ideal situation is that you can make a living from the money you earn from your investments. Many of us like to call themselves “financially free” when they reach the point that the income from your assets is enough to live on.
The most important thing is getting started. If you don’t do anything, financial freedom will remain a dream. If you are scared, start with small amounts. Investing via crowdfunding may be an option for you. Smaller amounts and not as volatile as the stock market. It’s up to you to do it!