Find Assets and Keep Them

2007-03-08 10:33:40

( Financial )



What is an Asset
Accountants will tell you that an asset is something you own that has a cash value. This definition of asset will classify your automobile, your computers, your home, even your life insurance, as assets.

Not All Assets are Created Equal
While everything you own probably has some cash value, not everything you own is a good asset. The acid test is the question, "does this 'asset' of mine put money in my pocket, or does it do nothing but depreciate? Or worse, does it cost me good money to maintain it?" The best assets to hold on to are the assets that continually put money in your pocket. These are the assets that you must look for and keep. Some examples are real estate that can be rented out, stocks and bonds, mutual funds, even investment in a money market checking account. If you wish to succeed in investment, find assets, good assets, and keep them.

How to Find Assets
There is always an inexpensive way of acquiring assets. You do not need to shell out great amounts of money to find assets or acquire them. Creativity is what will render your assets search successful. One example of creativity is to simply hang around the court houses and ask the clerks of court if any real estate auctions are going to be held and where. Real estate auctions are a great place to shop for inexpensive assets; they properties are usually sold for much less than their market value. Another great way to find assets worth buying is to watch what the experts do. If you have a friend who is an expert at buying assets, watch them closely. Walk with the wise, and you will grow wise; stay close to the people whose skills you wish to learn.

How to Protect Your Assets
To protect your assets, you must invest in the proper order. Disability and disease may heap large costs on your budget if you have not already obtained health coverage and life insurance. Find assets that are meant for the long haul, and invest in them first. These types of assets will be your foundation for future investments. Blue chip stocks and bonds from reputable companies are a good foundation for investment. Mutual funds are also a wise choice for a neophyte. You should lay a strong foundation of solid investments before you allow yourself to try more speculative investment adventures.

The Next Steps
Once you have laid your foundation, the rest is up to you. You must continue to be creative; you must learn and grow everyday. Find assets with the use of your mind; your mind is your greatest tool. Remember also to stay close to the people you want to be like; recognize people with financial skills and stay near enough to learn from them.


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