No matter if you are investing in a the stock market, real estate, or commodities, do your own diligence and know whether you are putting your money towards an ASSET or LIABILITY.
Put simply, LIABILITIES take and waste your money and ASSETS make you money. A long known secret of the rich is that if they strategically place their money in assets they can build WEALTH. There are several great options to invest in such as new businesses, real estate, and even the stock market if you have enough knowledge in the subject. It is also easy to point out that most riches are not created by just parking your money in a “safe” or retirement account. Therefore knowing ways to build assets and not liabilities is vital to your financial future, especially if you seek to become FINANCIALLY FREE. The average person believes in saving money, but does not gain much these days if it is just sitting in a bank account or at home. We must begin to put our money to work and become FINANCIALLY EDUCATED so that we can control the outlooks on our wealth.
ASSETS will be the vehicles to transport you and your family towards FINANCIAL FREEDOM. Be careful where you spend your money and stop wasting money on LIABILITIES. We all have things in life that are necessities and other things that we just simply want. The biggest misconception today is that our house is our biggest ASSET. This falls far from the truth, the reason why is if it does not generate INCOME and depends on you to financially support it, it is known as a LIABILITY. Unless, let’s say this house is a triplex and you decide to live in one unit and rent the other two units out. You will now have an ASSET, as long as you are able to produce enough or more money than the cost of your mortgage and expenses. You could also have other benefits such as tax deductions and potentially live for FREE. This is just one example of the endless possibilities of creating wealth, so decide for yourself and learn the difference between an ASSET and a LIABILITY.
We hope you enjoy our thoughts on ASSETS and LIABILITIES and remember to analyze your own financial health and seek professional help to guide you towards FINANCIAL FREEDOM.
All the best,