Today I want to discuss precisely and concisely about wealth creation. At the end of this subject, you will be able to know the difference between an asset and a flosset.
Wealth creation requires plan, discipline and action. Wealth is created by acquiring assets instead of flossets.
So what do assets do?
- Assets earn you an income
- Assets increase in value. And so you can sell them at a profit.
A good example of an asset is an apartment you build to rent it out.
Meanwhile, the opposite of an asset is a flosset. A flosset does not earn you an income and depreciates in value. A good example of a flosset is a car.
If you really want to create sustainable wealth, acquire more assets than flossets.
In my next blog post I will discuss the difference between "rich and wealth"
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