Hello friends ,
In this article we are going to tell about :

  • What is Asset ?
  • How to make Asset ?
  • What is the difference between Asset & Liability ?
  • How to become Rich by making more Assets ?

What is Asset ?

Any item that put money in your pocket is called Asset , that means assets may generate passive income for yourself . Passive income means that income is also generating while you are not actively involved in this or you are sleeping . This is the Power of Passive Income .
Some Examples are : Stocks , Mutual funds , Index funds , commodities , Books , courses , content etc.
These things generates money while you are not in active mode . Once you have invested , your money growing . So more you have assets more you earn . Hence If you want to become rich you should generate more and more assets .

What is Liability ?

Any item which take money out of your pocket is called Liability . For Example : If you have purchased a car without your need or little need then this is a liability for you because you it requires maintenance , EMI and its value also decreasing day by day . But if you have given it on rent then this same car is generating money for you and this will be an asset for you .
Thus If you think in smart way you may convert your liability into asset . So asset generates money for you and liability take money out of your account .
After understanding the difference between assets and liability , we can say that your assets may become liability and liability become assets ,Its depends upon you approach .

So rule for becoming rich is :

Wealth creation is directly proportional to how many number of good assets you have been created .

Now I want to tell you a very interesting story :
Two friends are living in a town named Roger and Ginny . Both was working in same company at same post & having same salary . Roger always talking about assets , how to build & increase asset , how to convert liability into asset . But on other side his friend Ginny always talking about liability buying a house , car etc. After ten years result was amazing , Roger became millionaire but Ginny does not , reason is that Roger has created many sources of income by increasing number of assets but Ginny has one & only source of income i.e. his job with EMI for his house & car etc.

Now I want to tell you about some assets :

1. Stocks :

If you have knowledge of stocks market then you should invest in some good stocks . If you have no knowledge then you have to acquire some knowledge about stocks market and then starts investing .

2. Mutual funds :

If you have no knowledge of stocks then you may go through mutual funds because mutual funds are low risky and in long run this will give you better return .

3. Commodities :

As you have seen that the price of gold , silver , platinum etc. are increasing day by day . So if you want to invest in commodities it will also give you better return .
In this way you may diversified your investment and make more assets .

4. Bonds :

Government bonds are also be an options for investment and making money .

5. Books & Courses :

If you have an expert in any field then you may write a book , make a course and by selling them you can generate money for yourself .
So there are many ways of making assets & I have given some ideas . I expect this article will be helpful for all my readers & friends to make them rich .