Learn how to evaluate the best assets to buy depending on your risk profile, time, knowledge and unique circumstances. See how to turn liabilities into assets.
SAN FRANCISCO, CA – CALIFORNIA, UNITED STATES, December 4, 2020 /EINPresswire.com/ — An online financial publication has released an in-depth guide teaching readers how to build wealth and financial freedom through proper asset accumulation.
More information is available at https://financialfreedomcountdown.com/accumulate-assets-and-avoid-liabilities
Financial Freedom Countdown's new guide offers a detailed breakdown of different types of assets that increase in value over time. According to the guide, the compounding effect of these investments can reach a point where they generate enough cash flow that can cover one's living expenses.
According to the guide, there are a number of investments that one can consider, but each one has its own advantages and disadvantages. It stated that the best asset that one should invest in will depend on several factors, such as one's risk profile, time, and knowledge, as well as one’s unique circumstances.
The guide discusses six major categories of assets, namely, paper assets, real estate, business assets, collectibles, commodities, and currencies. Each category is further divided into specific asset classes, such as stocks and treasuries under paper assets and primary and rental properties under real estate.
Furthermore, the author differentiates between assets; and liabilities that may look like assets at first glance. Liabilities include cars, recreational vehicles (RVs), and other material goods like expensive television and furniture, which can drain one's money as they depreciate in value.
While it is not possible to avoid purchasing certain liabilities, it is possible to turn some of them into assets, according to the guide. The author lists a number of ways to "reduce bleeding" and earn from these purchases, for example, taking advantage of the sharing economy by renting out RVs to generate income.
The guide also explains why some interest payments, which typically fall under liabilities, are beneficial. Interest payments on loans taken out for property purchases and businesses are "worth it" when potential returns are taken into account.
The contents of the guide were based on the actual experience of the author, who came to the U.S. with only a thousand dollars and without knowing anyone. He said that the amount grew to $2.3 million in 12 years, allowing him to live financially independent in an area with a high cost of living. He has been featured in Forbes, CNBC, MSN Money, Ladders, etc.
For more personal finance advice covering a variety of topics related to increasing income, investments, life optimization strategies, protection against disaster and anything related to smart financial planning visit https://financialfreedomcountdown.com/
Source: EIN Presswire