Acquire knowledge about the different type of assets. Some type of assets will capture your interest and other type of assets will not. Pay attention to the type of assets that have captured your interest.
Spend more time on acquiring the knowledge about these assets. Choose the asset that best suits your personality, your values and your lifestyle. Learn and put what you have learned into practice.
Some assets require more education and attention than other assets.
Type of assets
Business
You can invest in your own business with your own money and/or borrow money from others and get a return on the investment in the business. You can also invest in someone’s business. Make a research and analysis of the business itself, the partners in the business, the financing of the business and the management team of the business.
When you own your business you have full control. You control your income, expenses and debt. Almost all business expenses are deductible. You deduct the expenses against the revenue which reduces the business taxable income.
You set your own hours. In your own business you have the freedom to express yourself. This means that you can express who you really are and what you stand for.
Real estate
You can invest in real estate for cash flow from rental properties and/or for capital gain when buying and selling the properties. If you are interested in investing in real estate you have to decide which works best for you. Do you want to invest in real estate for cash flow and/or capital gains? You can invest in all types of real estates.
One strategy is to buy and sell real estates until you have the funds to put into a rental property to receive cash flow. The strategy of buying and selling properties for a profit works only if the property is appreciating in price. Appreciation means that the value of the property increase over time.
Paper assets and commodities
Paper assets are stocks, bonds. Commodities are metals as gold, silver and food as grains, sugar and raw materials as oil. Buying gold and/or silver coins is very easy. Gold is also used as a hedge against the falling currency, because when currencies fall in value, commodities rise.
Commodities are a capital gain or loss assets. Commodities do not have cash flow. Commodities are capital gain or loss investment.
Paper assets are capital gain investments and cash flow. Stocks that pay dividends can provide long-term cash flow. Paper assets as stocks, bonds are quick to get into and quick to get out of.
It does not take a lot of time and effort to invest in paper assets. When investing in paper assets you have no control over the investment. Stock prices can rise and fall.
Take action
When investing learn and take action. Becoming financially free is a process. You must work to get where you want to be financially. Acquire the financial education, have courage and determination. Take action to get you the results you want. Keep doing this until you are where you want to be financially.
Learn to overcome fear by taking action. Take small steps and grow through experience and education and then take larger and more educated risks.
For your financial success!
