ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Inception of Assets

Updated on February 11, 2018
ConversantLeaders profile image

Cyndi is a multi-dimensional Entrepreneur, Speaker, Business, and IT Consultant for Corporations and Startups.

The one thing this economy has spotlighted above anything else is the necessity of building assets. Assets produce income on a regular basis whether or not income from a job exists. How can assets help secure your financial future?

“An asset is anything that puts money in your pocket and a liability is anything that takes money out of your pocket:” for example, a house is considered a liability because the monthly mortgage, insurance, utilities, and maintenance costs must be paid out of your pocket every month.

That same house becomes an asset if rented out so the tenant pays you every month. Those wanting to learn different ways to make and spend money could benefit from a strategic multi-tactical approach of working a job while simultaneously building assets, and monitoring liabilities.

Building assets that provide passive income is a way to make money work for you. Passive income is money produced without laboring at a job. Working at a job is the way to work for or earn money. One tactic; work while simultaneously learning and investing in acquiring assets until the passive income from assets surpasses the earned income from the job. This is accomplished by planning a set amount of time to learn, work, network, and invest.

The inception of knowledge gained from learning about the businesses, real estate, commodities, or paper assets categories that produce passive income can positively affect the future. There are many ways to secure your future financially and getting started is always the hardest part so start by applying this checklist to daily life:

  • Spend time each day using the resources below to build your financial knowledge base
  • Create a budget and consistently set a portion of money aside each pay period for investing
  • Choose friends and mentors that are already where you want to be or working toward that direction
  • Keep expenses low by deferring luxury purchases until income from assets can support them
  • Use financial pressures as motivation to develop innovative legal ways to create money
  • Use credit wisely such as financing for assets and not to purchase liabilities

The checklist above and the recommended resources located below are a good start on the journey toward financial freedom. Pick assets you understand or are interested in from the business, real estate, commodities, or paper categories and start learning. Then start investing. Education along with good advisors, mentors, and friends are your most powerful assets. Reach out, stay connected with others, and enjoy the journey.

Questions.. Post comments below.

Resources:

Cashflow Quadrant by Robert Kiyosaki

Cash Machine for Life by Loral Langemeier

Courage by Margie Warrell

The ABC’s of Getting out of Debt by Garrett Sutton

© 2011 ConversantLeaders

Comments

    0 of 8192 characters used
    Post Comment

    No comments yet.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)