Accumulate Assets not Debts! That’s it. You can now scurry along and look for other investment tips out there. But if you want to delve deeper to the subject, then by all means, I’m happy to share it with you. So without anymore ramblings, let’s start right away!
This is technically more on the side of personal improvement but because it’s so effective and timeless, it has become one of the greatest driving forces in attaining financial freedom. So moving on, before we start the complexities, let us first define what an asset and debt is. Should you find yourself not that interested to my writing skills or any articles for that matter; you can jumpstart your learning by availing the best day trading education there is via a well-respected institution. I did say day trading right? Incidentally, that falls under assets.
What is an Asset?
In financial terms, the very core definition of an asset is something that puts money into your pockets. There’s a broad range of things you can call assets such as: your job, realized gains from stocks, interest accumulated by your money from the bank, profits gained from day trading, the interest of money you lent to someone and a bunch more.
What is Debt?
I don’t have to elaborate much but for the sake of providing information, it is something that takes money away from your pocket. Just like the former, there’s a broad range of examples of debt: the money you owe from someone or to a bank, your monthly bills, credit card payments, your mortgage, installment fees and many more.
So the best way to attain financial freedom and the ultimate investment advice there is in existence is to accumulate assets and minimize or better yet eliminate all your debts at once whenever it’s possible.