Do you have income producing assets?
Have you thought of having more income producing assets?
Let us look at some of the income producing assets you have now, and some that you want but do not have at the moment.
You earn money at work. You are the most important income producing asset to yourself, and your dependents.
How do you take care of yourself so that you can earn as long as you want?
You have to eat good food, and that means real food. Not junk food, not chemicals. You need real food, instead of derivatives.
You have to rest well, exercise enough,so that you are in the best condition to enjoy life, and to earn cash.
2. Your ideas
You have many ideas every day.
These are the intangible assets that can produce income.
For example, when you make a decision to carpool instead of driving your car everyday, your idea becomes an income producing asset.
When you decide to write articles, you need your creativity to put ideas into words.
Articles, especially those posted online, are income producing assets.
3. Rental apartments
Your house is not an asset, until you sell at a capital gain.
Your house eats up a large portion of your disposable income every month.
Rental apartments and houses are different. These are your assets, because the tenants are paying for you. You are holding the title deeds to the houses and apartments, yet someone is paying for them.
4. Mutual funds
Many mutual funds produce monthly income to the investors.
These are the mutual funds that invest in conservative assets. You are not likely to lose your capital even when the economy is in a bad shape.
The worst is when the mutual funds reduce the payout.
Now let us take a look at some of the income producing assets you may not have, but you desire to have.
If you are working for others, you become the asset of your boss.
For every dollar that your company pays you, you have to repay by creating ten dollars worth of service.
Employees can never get richer than their bosses.
That is the fact of life.
If you have a business, and you need to do everything in order to keep the business going, that is not an ideal situation too.
You become theslave of you business instead of the owner.
You need to hire experts, and trust them to do the work. At the same time, you have to monitor their work performance.
Only then can the business becomes an income producing asset for you.
2. Affiliate marketing
Affiliate marketing is the best alternative for those who do not want to have their own business.
Many of us fear losing our hard earned money into a failed business venture.
Affiliate marketing online requires little cash outlay, so you do not have to fear business failure.
Even if you fail in affiliate marketing, you are just wasting time that you would have spent watching TV anyway.
When you succeed in affiliate marketing, you can earn even when you are on a long vacation.
If you have several websites that attract visitors every month, and you have monetized the websites well, these are the best income producing virtual assets.
Others will not know how you manage to live the high life when they do not see you going to work.
They do not have the concept of virtual assets.
As long as there are people using internet everyday, virtual assets will continue to earn for their owners.
How many income producing assets do you have?