5 Assets That make you wealthy - Arjun Pandit

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5 Assets That make you wealthy

"If you don't find a way to make money while you sleep, you will work until you die."

5-assets-that-make-you-rich

We all need cash. It's a necessity of life. You ought to not be a slave of cash however you need to understand the importance of money. Many people raise the question, The way to create money? The way to get rich? Therefore, during this article, I will share five assets that may assist you to get wealthy. However, first we need to understand the definition of an asset because most of the time folks misunderstand it.

 

What is an asset & when an individual is understood as rich?

 

We cannot consider anyone as wealthy just because they have a BMW or are able to purchase the new iPhone. True wealth is outlined by the number of assets you own. You're wealthy once you own assets that are able to raise enough money to cover all your expenses.

 

Now you may be wondering that what an asset is? One thing that works for you and appreciates your money. A true asset works for you even when you are sleeping.

 

Which are those five assets that can make you rich?

 

1. Owning Your Business - Your own business, if it's winning, can allow you to make money while sleeping. Your team, your works, your product, your promoting can create cash for you. If you consider the richest folks within the world, then on its list, are those who started their own business. The richest folks of the globe, Jeff Bezos, Elon Musk, Mark Zuckerberg all of them started their own business.

 

The richest folks of India, Mukesh Ambani, Azim Premji, Adani all of them started their own business. it doesn't mean that you will earn if you start a business, no, business is a risky proposition, which means that if it works then it is amazing but if it doesn't work then you can lose a lot.

 

 

 

2. Owning Business Through Stocks –

 

Currently, everybody cannot begin their own business however this is often definite that owning a business creates an asset as the business runs 24*7 therefore, it's creating money even when you are enjoying on a vacation with your family.

So, if you cant start your own business then you can at least own a business and the best way to own a business is through stocks when you buy a share or stocks of a company in the stock market then basically you are becoming a part of that business you say that I believe in this business so when it grows its stock price will also grow and then I will become rich, my wealth will be created but the most important thing that be a 'long term investor'. only day trading or short term trading or reacting on tips like buy this or sell this not that is not wealth that is gambling. wealth is created when you take long term bets.

 

One of the richest people in the world, Warren Buffet, if you read or see his life story, you will see that he made all his property, his wealth by investing and all of them are successful and rich investors and what they have always done is a bet on really long term companies for a really long term perspective

 

So, if you want to create wealth in the stock market then have a long term view at least for 3-5-10 years, ideally 15-20 years and then bet on really strong players, market leaders in the category because you know that as the market grows country will grow, the world economy grows the players who are at number 1,2 or 3 in the industry they will also grow and they will actually be making money for me while I am on no duty.

 

3. Buying Commodities - If you cant start a business or you can't own a business though you should, then you can own something which the world wants and that is commodities. gold, silver, mostly gold silver too there are other commodities too but we won't go there

 

When you own these assets they also increase in value and they make you wealthy but the big mistake in this when an individual mind understands gold investing it instantly thinks of jewellery. No, jewellery is not the right investment. if you want to invest in gold and silver then invest digitally by buying gold bonds or ETFs.

 

Basically, a digital bond is the best way for you to invest in gold or silver or any commodities

 

4. Real Estate - If think real estate an investment purpose then it could make sense. buy a cheap house that you can afford which you won't have to take a lot of loans for, ideally, you should not take any loan buy an apartment or small house worth 10-15 lakhs because that then gives you the freedom of not having to pay interest whatever rental income it garners you 5-10-15 thousand rupees maximum a house worth 10-15 lakhs will never get more than that will help you either reduce the EMI or generate additional income and then the value of that house over a long term will appreciate so you will have something which is an asset which will make money for you even when you are not on duty and that is a brilliant asset to have

 

5- Create Intellectual Property - Something that you will have to make only once but it will make money for life.

 

A great example of that is content. If I am writing this article in 2021 then this article keeps getting views in 2022.2023 or lifetime and based on that there will be a brand that will be built and if ads will be running on these it will give me lifetime money or I would write a book or a song or produce content that might be purchased around the world

 

If you did it once will keep earning royalty or revenue from it for life and these are brilliant assets.

 

Suppose you are a graphic designer and have made a lot of good graphic designs and put them on the net and sell them may be in the first month no one buys or it takes a year but if it is inevitable that someone would buy it in the next 5 to 10 years and if you release a lot of such design in the market. 100-200-300 as many as you can make at some point of time it will start generating income for you which you had no idea of when you started and that is true wealth

These 5 ways are the surest way for you to think about getting. if you look at any rich person you will find that they use their maximum time and money in one of these things if not all 5 things because they know that their money will grow only when it is invested in an asset a thing that makes money not waste it

 Know more about finance: Buy don't retire rich

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