You are 30 years old. You are still at University. You have a great job and two children. You live is a great apartment. You have heard about the green gold in farming and have bought over 20 acres of land up country. You have not yet started developing the land as you are waiting for it to increase in value.
You feel confident. You are happy at work. And you are becoming a motivational speaker of sorts.
Are you successful? How do you measure success?
What is your current market value? The accountants ask: what is your current statement of financial position? The fact is, you cannot improve that you don’t measure. You must take stock of what you own as well as what you owe.
Most importantly, look at the list of all your assets and ask: what is my most valuable possession. It is a physical asset or is it an intangible asset?
Identifying your most valuable possession will help you protect it or preserve its value. For most people, their biggest asset is great health and intellectual firepower. This is followed by a great supporting network of like minded friends and peers. If this is so, how are you leveraging from these assets.
Your brains need on-going improvement in terms of reading new materials daily. your health need on-going reviews to review your health condition. If you don’t service your car, chances it will run out of fuel or break fluid oil are high.
An asset is that which earns you more value in future. Anything that does not do that is a liability.
One Comment
Judith
Very well written, of course always remembering that for it to be a sustainable asset and for you to say its “your asset” you need to be getting return on investment almost to the exclusion of others!