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In What Assets should I invest in ?
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I am 19 years old and I started my investment/saving journey at age of 18. I have read this books on investment and finance, specifically I say its RICH DAD POOR DAD and it say to make assets to grow you wealth.
I can only think of house as an assets
I wanted to know what are some assets (Rather then house) which can grow my wealth.
Thanks in advance
Top Comment: Read the Prime Directive and Investing wiki .
What are some solid, hard assets to invest in besides real estate?
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Buying a property is obviously the first thing one would think of when trying to take money out of stocks, bonds, crypto, etc - but there's zero inventory right now. Commmodities and REITs, and gold bars in the yard are all overpriced right now, in my opinion. (Understood that the wide consensus is that stocks will continue to go up until there's an increase in interest rates.)
Furs? A rare car? Specialty hand bags? What's a solid way to store value?
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Examples of assets that young people should aim to acquire?
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So I’ve been trying to educate myself about money, wealth and investing in my old age of 21 as I believe it to be very important.
Im currently reading Rich Dad, Poor Dad by Robert Kiyosaki and all throughout the book he continues to highlight the importance of buying assets that generate income rather than liabilities and luxuries.
He loves to remind me that real estate is a great investment/asset which he invested into heavily through his 20s. Real estate is a bit out of my price range for now as I take home about 33k and spend roughly 10k on expenses.
I was just wondering what other options there are? What assets do you hold? And why?
Thanks.
Top Comment: Slightly off topic but you should listen to the "if books could kill" episode about rich dad, poor dad. Long story short, don't believe everything (or most of the stuff) in it.
What are some of your income generating assets?
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Hi,
I've been following this subreddit for some time now, and I would really like to know some income generating assets you guys own.
I'm at my mid 20s right now. And I want to start investing a bigger portion of the money I earn into assets that generate money. I understand there is always risk involved when it comes to investments, especially with today's landscape. But I don't have specific goals in mind. I feel like I'm just trying to save up for the things I want (a car, a house, properties). But it feels so out of reach sometimes with my current financial state.
I was hoping to have some concrete ideas this coming year and maybe some of your answers would inspire me to make detailed goals for myself this year.
Top Comment: A lot of peoppe don't get this but active income > passive income. If you're in your 20s, best to bet on yourself. You have the time, energy, and appetite. If you fail, you learn. Besides, investing is predicated on the idea that you've developed "judgement". If you're young, you dont really know how the world works the same way a 40-50 year old does. Passive income is overhyped. Get out there and take a few risks. Make a few bets. Develop judgement for investing later on.
What do you buy outside of investing that you consider assets?
Main Post: What do you buy outside of investing that you consider assets?
Top Comment: Travel experiences with family. Education isn’t just a schoolhouse thing.
What do you classify as assets in your net worth calculations ?
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Tl:dr - what do you count as assets? How specific do you get? Things like cars or real estate are easy to include and find value estimations of - but what about computers, TVs, furniture ? Or a currency collection of notes worth more than face value? Do you not include them at all or do you only count their estimated market value ? Sure its a relatively small consideration (and one that I haven't included yet) , but id like to hear opinions.
EDIT - I DO NOT CURRENTLY ITEMIZE ALL OF MY BELONGINGS AS I FEEL THIS CONFUSES THE NUMERICAL OUTCOME OF NET WORTH. ITS SIMPLY A QUESTION OF WHAT YOU INCLUDE, AND WHY.
Full - To track progress made in my personal finance department , ive made a pretty in depth workbook series in Excel. I've made the following workbooks : Income, debt , Investments (and net worth) , expenses.
Within the Investment book I have a page dedicated to networth that provides a sum of all current investments, material assets, and debts to generate net worth. Specifically for the material asset / property category , what do you include, and how do you count it ?
For the most part I have just my car, as that's the most expensive piece of property I own (and easiest to calculate based on the market). But if I wanted to get more specific , I have a few things that definitely hold resale value like an expensive GPU from my computer, a rather extensive numismatic collection , a couple of nice OLED TVs, and am probably going to buy a couch soon to replace my cheapie that I've been using for awhile now.
Would you include things like your computer, laptop, phone, furniture in your asset category ? Or leave those off for the sake of simplicity ? How would you count something like a currency collection - knowing that selling it off would take a considerable time investment to get the full value from, but also knowing that it is worth more than the face value of the various notes ?
Thanks in advance for your considerations and opinions.
Top Comment: The only non-financial property I consider in my net worth is house, cars, and my wife’s engagement/wedding ring (mostly because they have a reasonably available FMV) Everything else is de Minimis and would/should only be carried at salvage value so it’s not worth considering. Considering personal property only serves to play games with your numbers and make you feel like you have more wealth than you really do.
What's a good way to start buying assets and generating passive income?
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I (21M) am in the middle of reading "Rich Dad Poor Dad" and I'm slowly beginning to understand assets and passive income. I have some money saved up but not a crazy amount. What's a good way to start buying, or making, assets? Properties are the main thing I'm told to get as assets and passive income but I'm curious to know if there are there other ways as well? Any good book recommendations on finance are appreciated!
Top Comment: Rental properties aren’t “passive” income, there is plenty of active work needed. The closest thing to a passive income that most people can reach for is a large investment portfolio that you can sell portions of for the income you want to draw. But unless you are inheriting a bunch of money, it’s going to take a lot of active income to get enough money to be able to invest and draw any reasonable amount of income off of the portfolio.
Unique assets besides real estate or stocks? : r/Rich
Main Post: Unique assets besides real estate or stocks? : r/Rich
Other examples of appreciating assets
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I have a day job as a remote software engineer and I've some savings. I recently learnt about the idea of investing in appreciating assets like real estate, stocks, bonds, and currency and using the income from those to fund other aspects of my life like kid's fees etc.
I already have some money invested in real estate (lands) in my home country (not the US) but they aren't netting me any monthly income. I basically bought low and planning to sell high.
What are some other examples of appreciating assets outside of the ones I listed above that I could invest that can give me a decent recurring income if managed properly.
Top Comment: I just want to add something - currency doesn't necessarily appreciate. People sometimes do arbitrage to take advantage of changes in relative currency value, but I wouldn't call that appreciation.