![]() |
assets are for income |
She says, when her friends were buying nice cars, she was busy buying land. I can totally relate. She has hectares and hectares of land in various cities, land by the ocean, land in tourist attraction areas, land for commercial property, etc. She has started with her second construction project. I was totally humbled by her zeal and courage. Something about girls like this (who drive very old cars and work hard) inspires me. When she started renovating her house, it was for her own comfort. Off course she later wondered why she had such underutilised asset. Assets are assets because of their potential to earn money, right? YES, assets are for income. That’s why a house you live in doesn’t add much to your wealth. Even if you sell it, you will still need to buy or rent a home.
I wish I didn’t love huge spaces the way that I do. What I take from my smart friend is that, you can delay the luxury a bit whilst you start collecting assets. Most people have confidently judged the frugal saying “you need to live a little”. The same people who “live a little too large” are not sleeping at night thinking about the tricks to carve their way out of paying debt. A wise man told me that we are only in the 1%, which means, the 99 percent of the people don’t get this. I don’t know about you but I love being in the 1%. This story is so similar to one of my friend in Namibia. I will ask her to narrate it herself. She quit her job and is now a real estate businesswoman I have come to respect. I am so blessed to be surrounded by such girls in my life.
This makes me think because, like I mentioned in my previous posts, we are searching for our next home. We are a family that loves space. I am thinking very hard about this. What about you dear friend? Do you believe that Assets are for Income? Would you let your home for rental and downgrade? Would you move to a smaller town to cut the costs?
Wow!!! Another inspiring post from you... I believe that assets are for income and I have started acquiring land for future construction so your friend inspires me so much... :)
ReplyDeleteGood for you Alice. Since my twenties, I have been collecting assets that make me more money. But I feel now I want a bit of luxury. I have been very comfortable throughout. I just don't buy stuff that wont add value to my life.
ReplyDeleteI'm a firm believer also! I'm glad I'm not the only one who is "weird"...lol. I would give up my home and go to rent if it makes financial sense. Living a little is doing what you are doing my sister, seizing opportunities and finding wealth creation ways that resonate with you while trampling down on the old wisdom of hoping that a 9 to 5 will ever get you rich!
ReplyDeleteHey Zee,
DeleteNot many people think that way. We love owning huge spaces we don't need nor use.
As for that old wisdom... SAD indeed.