The value of anything is defined by supply and demand.
You don’t need to be a Major in economics to understand this. Money is just an idea.
Remember the desert island example? The true measurement of money is not the cents
or dollars it represents.
If you have developed a product that people want, would they pay more to you than
usual? Would you apply your skills in creating good assets?
Bottom-line is this:
Invest in assets that bring long term value. Anything that brings you more income is an
asset. Don’t invest too much in liabilities like cars or boats.
Even houses are not considered assets until they are fully paid off (If you lost your job
tomorrow and you can’t pay for your house, is your house an asset or liability?)
Are you willing to step out of your comfort zone and pay the price for financial IQ
or ignore the signs of the times and expect your boss, the government and the
bank to take care of you financially for the rest of your life, living below your
means and never taking risks to better your family’s future?
No comments:
Post a Comment