There Is More To Life Than Work!

There has got to be more to life than waking up and going to work every day. It's not that you're lazy, but it seems like the weekends are not long enough and you're spending your life working for someone else. 

If you feel this way, then maybe it's time you think about trying to build an asset of your own. One that will make you money even when you're on vacation. An asset, however, will likely cause you to spend time with very little reward in the short-term so be mentally prepared for that. 

Make no mistake about it, building an asset is no easy task. In fact, if it were, then everyone would have done it already. But, one great starting point is just knowing what kind of asset you're interested in building. So here are some different assets that you can think about:

Real Estate.

Owning property is a great way to generate passive income for yourself. Not only can the income be predictable (at times), but it can also increase year after year with the market. This is more so when you are renting a property. 

Along with real estate, I couple buying land in to this equation. Not all land is a worthwhile investment though. Typically you want to buy land within the city limits of a growing city or maybe just on the outskirts of the city since cities expand over the years. But if you're buying land maybe over 20 miles out from the city, then it will take much longer for you to see that as an asset and get money back from that investment. 

Books.

Whether you're interested in picture books, children's book, graphic novels, or just novels in general, there is space for your ideas and talent.  If the book does well (and if you decide to write more than one), then you will have a nice stream of passive income. So the key here is to write and produce quality work, not just anything to say that you've written a book. What good is writing a book that doesn't sell? 

Software (SaaS).

Software-as-a-Service businesses are increasingly popular these days because of the ease of building them coupled with the potentially high payoffs if you build the right product. These products typically take a nice size investment up front and then hopefully the money rolls in from customers later. So you build some type of software tool that people need and sell it to them on maybe a subscription basis, but if they feel they no longer need your tool, then your revenue dries up. SaaS businesses, once they prove useful as judged by the number of people that use them or their high revenue, may even be purchased by a larger company; leaving the people with big stakes in the company with a nice payout. 

Investments.

Maybe you're not interested in starting your own business or side hustle and that is completely okay. You can invest in someone else's business pretty easily. Placing your money into various investments is still a way to build an asset. Of course you will want to make sure you do your research on these various strategies before placing your money in them. You should never want to just throw your money blindly at something and hope it will grow; be as certain as possible about an investment before putting your money behind it. 

One thing that is important to know is that you don't have to invest in a single stock. You can invest in ETF's as well as Systematic Investment Plans (SIP's) offered by mutual funds. If you go this route, it's important that you talk the details over with a financial professional so that you know what you're getting yourself into.  

Yourself.

This is one of the most important assets you can place your money into. Personal development is very important. If you feel like all you do is work and pay bills, then you should find time outside of work to invest in yourself and do things that make you happy. You don't have to wait until the weekends to do something you enjoy. Maybe you invest in your friendships or maybe you learn a new skill. 

Money is just a tool for you to do things that you want to do, but it shouldn't consume your life. If you're just starting out with the 'build your own asset' journey, then keep your full-time job and use some of that money to build your dream. If you don't build what you want, nobody will. 

If you feel that I have missed any important asset then definitely let me know by leaving a comment and helping out any of the future readers of this post.