What are different types of assets

Microsoft company confounder bill gates have one of the favorite quotes is
“If you belong from a poor family it’s not your mistake, if you die poor it’s your mistake.”

You don’t have any doubt that any person doesn’t bring money from GOD.
GOD has made everyone equal and sent us to earth.
But sometimes, few people live their life of their own.
And few people struggle for their whole life.
There is no supernatural power for the people who got rich.
This game is all about thinking and mindset.
These people know very well that today hard work will give very much benefit in future.
These people at the beginning don’t buy any luxury.
Their focus is how to use the money they have, such that this money works for them in the future.
That means this money brings profit for them.
For this, they try to create more assets.
And finally, one time it comes they get financially free.
And now if they don’t work anywhere.
They get continuous huge income from the assets, from that income not only he, but he can also serve his next few generations.
But other thinking people, they want to make changes in their life.
They want the way things are going to let it go like that.
This person has a famous quote, you also have heard of it.
Other people say money is not important because money can’t buy happiness.
These people from this thought spend their whole life.
It can be that these people are saying true with good intention.
Nowadays money has become 80% part of our life.
When we are saying 80% obviously this is an important part of our life.
To become rich, the most important thing is to multiply the money.
Such that in future, this money will help you to earn unlimited money.
Today we will be going to tell you some 10 assets that can make you financially free.

Table of Contents

1. Equipment and machinery

To become rich, how to earn money is not the factor.
But how you make the money that is the factor.
For example:
If you buy a car for your own, then this will not give you money.
But if you buy a car and rent it as a taxi, then every day you will earn money from the car.
Same as if you buy a computer for entertainment and gaming, then this laptop will be a liability for you.
Suppose you use the laptop for managing a website or doing business then this laptop is an asset for you.
Warran buffet when 15 years old, one day went to a barbershop, he found in there is a crowd in the barbershop. People are waiting for their turn for a haircut.
That time he got an idea, and bought a 25$ pinball game machine and set it up in the barbershop.
From this, the people waiting for a haircut, are not getting bored and people are enjoying their boring time.
The barbershop got good reach and Warran also get a good profit from this.

From equipment and machinery, you can earn money sitting at your home.

2. Raw materials and commodities.

In commodities, if you pick up the gold price.
In the year 2009, the price of gold is 14,500 INR
In 2020 the price of gold is 50000 to 60000 INR
That means in 12 years 400% profit.
It is not like that your money got doubled in months.
But investing in gold in long term is worthful.
Invest that amount in gold which amount you don’t have requirement now.
Because in short term the price of gold goes ups and downs.

3. Business

In the world, 90% of the rich actually earn money from the business.
If your business runs good then your business can be an asset.
If you are not physically involved, but your workers will be working for you.
It is not 100% sure that your business will be successful, since you are the boss, you know where you want to take your business or your business can get lost.
If you want to start a business in any field, you should first research it.
If you don’t have money to start your business, you can participate in the business already running.
ie stock market.

4. Stock Market

Many people think that the stock market is gambling.
But this is not right actually.
Gambling is for those people who day and night perform trading.
But if you take a long-term goal, then maximum companies give profit.
Now, this is like that if you buy any companies share it will give profit.
When it comes to investing, you should have sufficient knowledge of where you are going to invest your money.

5. Cash

Many people will think about how cash can be an asset.
From cash, we can make assets.
Cash is a very big asset.
Cash can be needed anytime.
Suppose, you have invested all your amount and created an asset.
But currently, you don’t have any money.
Immediately you get an opportunity where you can invest some money and get more profit.
In this place, you will get regrate.
Make sure, you should keep some emergency cash.

6. Technology

Technolgy made all our work easy.
Some works take hours and hours but the same work can be done in minutes because of technology.
A few years back, if you want to talk with foreign country people by phone, we have to pay a high amount of bill.
The charge is some much that it is much more than national calling.
This charge has come to zero by WhatsApp, skype, etc.
Which works on the internet and technology.
With the use of technology, you can create an app, which can solve people’s problems.
This type of apps can give you a lifetime earning.

7. Copywrite and trademark

You have heard about people creating videos on youtube.
If someone copies the video of others and uploads it to his channel, he will get a Copywrite claim from youtube.
This doesn’t affect the video, but the revenue goes to the original creator of the video.
This happens because youtube has a policy for copywriting.
For you, Copywrite can be an asset for you and it works like this.
If you create a video with your own clicked pictures and music, and if someone has copied your video, you can claim for Copywrite and get all the revenue.

8. Affiliate marketing

In this asset, you don’t need to spend much time, don’t need to give the effort to sell a product.
But you need to do a little hard work.
You have to create a blog or channel on youtube.
You have to decide particular niche and need to work consistently.
When your audience gets increased you can tell people about any product and affiliate it.
Those people who buy the product from your affiliate link will get some percentage of the product as commission.
Since your blog will be published, In the future someone purchases any product you will always get a commission.

9. People

If you talk about any famous person like politician, actor, singer or any businessman.
Why these people are so popular.
Because they have those people who like them.
From one Elon Mask tweet, cryptocurrency became so famous.
Big companies advertise their brand with celebrities such that people who like them can get trust.
On this behalf, these companies charge, lakhs of money.