The Truth About ASSETS and why you should buy it if you want to be rich.

[Ureka]

An asset is basically anything that creates value or, better yet, a steady income. So when you buy an asset, you have a source of income and it's working for you.

So if you buy an income-generating asset, your money is now working towards making more money. Now if you reinvest the returns, that money will make more money and so on.

Obviously, if you waste money, you won't get rich. If you're buying something that adds no value, that's okay. We all do this to some extent (for example, we all have to buy less profitable food) To maintain this, you need another source of income to pay for - usually your job. By buying assets, you are effectively taking advantage of other sources of income.

 

[Niftyyem]

I see asset as what you possess that may or may not generate income in the present but has the ability to generate in the future. They could also last generations if you so want.

 

[Ureka]

I see asset as what you possess that may or may not generate income in the present but has the ability to generate in the future. They could also last generations if you so want.

hmmm, if anything is called assets by my own understanding it should be generating income, your personal house is a liability, because you pay bills on it, it's until you sell it that it becomes a asset