Best Income Generating Assets

Hello friends, Welcome to my new blog article. In which I am going to tell you 21 assets that will make you financially free. Many people became rich by following this secret of Asset Building.

Many of you must have read the ‘Rich Dad Poor Dad‘ book which was written by Robert Kiyosaki. Robert Kiyosaki has told about his two dads in that book. One was Rich dad and the second was Poor dad. 

Poor dad was financially poor because he focuses on his monthly salary and salary increment in the job. On the other hand, Rich’s dad was focus on Asset Building. And this same thing Robert Kiyosaki applied in his life and became rich.

The Asset is anything from which you earn money whereas Liability is a thing that takes money out of your pocket. 

So, in this article, I will tell you 21 such assets that will earn money for you. Also, 11 such assets that don’t require money and are free of cost. So read this article completely. 

List of 21 Assets That Will Make You Financially Free

1] Business:

Business Image, Growmore Tips
Business

We are taught from childhood that business is a very risky thing. And you should not enter that field. But according to an entrepreneur business is not risky, but when you depend on only one Income source, this thing is very risky.

In the job or any single income source, you will get the money as long as you work there. When you stop working because of any reason, you will not be paid.

You must have seen some people are not too educated, not too smart but still, they are earning well and enjoy their life. Because they have their side business from which they can earn extra income. 

The richest person in the world is a businessman. The only business that has so much potential that it can make you rich. In business, you can create a Multi-Source of Earning. So, the first asset that you need to create is ‘Business’.

2] Real Estate:

Garry Keller says you can do 4 things with your money. 

  • Spend your money
  • Saving money in Banks, Fixed Deposits, etc. – which is the right decision sometimes and sometimes not. Because sometimes inflation rate increase more than your interest from FD. Because of this reason value of money decreases.
  • Making your money healthy – It means investing your money in such things from which you can get good interest.
  • Growth – From which you can get 13% – 20% returns on investment. And keep getting money.

The earth (Ground) is such a thing that can not be created in a factory and not created by any richest man in the world. As the population is increasing, the cost of land is also increasing.

Earth is limited space and its demand will always increase as the population increases. So that investing in real estate is the safest option for a long time. 

John D. Rockefeller who was an oil tycoon used to say that most of the millionaires are made through Real Estate.

So, Real Estate is the second important Asset.

3] Paper Assets:

.

Stocks, Bonds, Mutual funds are the types of paper assets. If you invest wisely in the stock market then you can earn a lot of money from it.

According to Stock Market experts, If you had invested 10000 rupees in the stock market 30-35 years ago, it would have been 600 crores today. You will not get such returns anywhere except in the stock market. Now you can understand the potential in the stock market. In many stocks, you will get dividends also.

Note:- To gain such returns on investment you need to invest your money in a good company in the stock market. 

Investing in Bonds is also a safe option. So, the third is Paper Assets where you can invest money for growth.

4] Commodities:

Let me tell you, Investing in Gold and silver is a more safe option than Real Estate. Gold is a material that has been used for thousands of years and will continue to do so.

Whenever the stock market goes down, people start investing in Gold & Silver. Because they know that Gold & Silver will not lose their value.

Every big investor always suggests you invest some percent of your investment in Gold & Silver. If you invest money in it for a long time, it will give you profit and your money will be safe. 

5] Cash:

You also need to have cash. If you invest all the money in the bank or here and there, what will you keep with you?

Companies like Apple always keep a lot of cash with them. With the help of cash, you can do transactions very fast. And sometimes you will get a discount on cash transactions. In emergency conditions or you will find any opportunity, that time you must have cash. So don’t forget the value of cash. 

6] Equipment & Accessories:

Buying things and letting them on rent is a growing business. For Example: If I buy a car and I drive it myself then it is a liability for me because I need to maintain that car. But If I rent that car then it will become an Asset for me. 

If I generate income from my mobile, laptop, the camera then it is an Asset for me. If I create videos from a camera and I get money from those videos, then the camera becomes an Asset for me.

People rent their Generators and other types of equipment in the Wedding and other Programs. Also, we can generate revenue from letting cloth on rent. Furlenco is a business in which they rent furniture to people and earn money.

7] Intellectual Property:

Intellectual property is a category of property that includes intangible creations of the human intellect. The most well-known types are as follows.

a] Copyright: 

Most of you might know copyright. If I created a song with my lyrics and voice then I can copyright it, and no one can use it for commercial purposes without my permission.

If anyone wants to use your music then he needs to pay you first. You can create your Videos, Music, Album and can generate passive Income by making copyright on them.

b] Patents:

If you invented any new technology or any thing which society needs, you can make a Patent for that. And as many people or companies will use your patent, you can make money from them.

c] Trade Mark:

A trademark can be any word, phrase, symbol, design, or combination of these things that identifies your products or services. It’s how customers recognize you in the marketplace and distinguish you from your competitors.

d] Trade Secret:

Big companies make Trade Secret for their products such as Coca-Cola, etc. The formula of making Coca-Cola is a Trade Secret. And you can make money from that.

So, these are the Intellectual Assets from which you can generate income.

8] Create A Brand:

Creating a brand is also a kind of Asset. Many people do business but they are not brands. It takes a lot of hard work and time to build a brand.

Tata Group is a brand. Tata Group can do any business and they will earn money in that too because of their brand value. People can also spend more money only on the brand. This is the power of Brand.

The owner of Zara is one of the richest men because he created a strong brand of cloth, they earned a lot of money by creating a brand.

9] Network:

It is very important to have a strong Network. In the beginning, when Businessman Dhirubhai Ambani had very little money, he used to drink tea in a 5-star hotel. So that he can see rich people and can network with them.

If you have a strong network of strong People, they will help you a lot to move forward in life. 

10] Create Your Own Content Or Website:

In earlier times, you need to have a big shop and money to sell something. But now you can sell a lot of things online by creating a website

It is much easier to create a business through a website and it needs less money than a physical shop. With the help of a website you can create your business and can create your Brand. 

If you bring traffic to your website, you can earn through Google Adsense, Brand Promotion and can sell your own Products. A lot of things you can do by creating a website. Website is your Digital Asset

11 Assets That Don’t Require Money

11] Time:

The most valuable thing in the world that even the world’s richest man cannot buy is time. Once the time is gone it never comes back.

You have seen a lot of times, successful people value time too much. Because they know Time is the most valuable asset that they have today. 

It is good that we should make good use of our time and become rich in our youth. Even if you become rich in old age, what is the use of it? 

If you invest your time in good things, you can gain unbelievable returns from it.

The best investment for a person is to invest in yourself.

-Warren Buffett.

12] Your Friends & Family:

If something happens to you tomorrow, you will have your own family, friends, and your loved ones. They will take care of you and will always be there for you.

If you will have a financial problem, Health problem, your friends and family always be there to help you. So, don’t ignore your friends and family, they are the real Assets for you. 

13] Your Skills:

We can snatch everything from a person such as his property, money, company, but his skills will always be with him. With the help of his skill, he can earn money anywhere in the world. 

You should always focus on Skill building. Work hard on your Skill. It will generate a high income for you. 

14] Your Knowledge:

Your Knowledge, 21 Assets That Will Make You Financially Free, Growmore Tips.

If you have such knowledge which other people do not have. So by sharing such knowledge with others, you can save their time and money. This knowledge will also help you to earn a lot of money.

People in the Consultant field charge lakhs of rupees for just sharing knowledge that they have. If you have a lot of knowledge then it is an Asset for you. Keep increasing your knowledge it will create income for you.

15] Your Mindset:

Successful people can become successful because they have a good Mindset. Rich people such as Elon Musk, Jeff Bezos have a powerful mindset that’s why they can do great things. They think about new technology, innovations. 

Mindset is the most important thing and it is free of cost. Invest in your Mindset. We should keep on teaching new things instead of speaking, ‘I know that. Elon Musk and we are the same but the thing which is different in us is ‘Mindset’.

16] Your Health:

Your Health, 21 Assets That Will Make You Financially Free

We have a thing worth crores, that is our body. Which we don’t care. You all must know about the importance of health. Health is our biggest asset. 

Our body, our energy is our biggest Asset which people always ignore. A person spoils his health to earn money, he earns money and then spends money to take care of his health.

17] Your Brand:

Here, I am talking about Personal Brand which you can develop without spending money. Man himself is a brand. Do such things so that people can trust you, respect you.

By taking the right action in your life, helping others will build your ‘Personal Brand’. This personal branding will help you to grow in life.

18] Your Channels:

Your Channels, 21 Assets That Will Make You Financially Free

Social Media pages such as Facebook Page, Instagram Pages, Youtube channels can be created free of cost. And it can become the biggest Asset for you if you work hard on it.

You need to create such a channel on Social Media, Share your knowledge with others, and Create content regularly. When your audience builds from here then you can earn money from various Ad-Networks, Sponsorship or you can sell your own products on your platform.

19] Your Business:

As I told you above, this business is different from it. Here I am talking about Skill-based Business’. If you have any skills, you can start a business according to your skill.

You can sell your skills digitally such as – 

  • Thumbnail Making
  • Content Writing
  • Digital Marketing
  • Logo/Graphic Design
  • Etc.

You can grow your business by hiring people of the same skill and can increase your orders from a client.

20] Your Resource:

Be Resourceful, 21 Assets That Will Make You Financially Free

Being resourceful is the ability to find and use available resources to solve problems and achieve goals. It means to use the things that you have right now, to move forward in life. 

It is a very good skill which maximum people don’t have. Instead of looking at what I don’t have, focus on what you have. And think how can I move forward using it? Be Resourceful

Many of us think that to start a YouTube channel it needs a camera, laptop, video editing team, etc. 

But when BB Ki Vines started the YouTube channel, he had only two things, his mobile, and his talent. By using these two things he can become one of the biggest creators of YouTube.

21] Your Creativity:

Creativity is defined as the tendency to generate or recognize ideas, alternatives, or possibilities that may be useful in solving problems.

Creativity is Somewhat about making a boring thing into interesting and being able to connect any random thing, if you can do this then you can earn a lot.

New ideas and innovations come from creative minds. There are many peoples who generate great income from their Creativity and some of them started their businesses. So, Be Creative.

So, these are the 21 Assets that will generate income for you. If you can not invest in the first 10 Assets, try to invest your time in the last 11 Assets that are free of cost. 

Tell your opinion in the comment box about this Article (21 Assets That Will Make You Financially Free)

Follow my Blog Growmore Tips with your E-mail for more Knowledgable information. Stay Connected With Me.

Read Our Other Articles:

How To Become Amazon Seller, Full Step By Step Guide

How To Impress Interviewer, 10 Best Tips.

Top 5 Genuine Earning Apps That I use Personally.

StockBattle: Best Money Earning App 2021

Leave a Comment