What Are Your 3 Greatest Assets Over The Course of Your Lifetime?
We all want a life rich in income and assets. The foundation of all of your financial success throughout your lifetime are the 3 powerful assets you currently own, and you will always own:
Your capacity to generate your income: active and passive income.
Your health over your lifetime will make you richer or poorer in all ways: money and other.
Your whole life is the economic engine of your life.
Invest your time and money into these 3 assets as the foundation for all of your assets. Dedicate your life to creating income and to creating assets. Be sure to include these 3 very important assets.
Income
Cultivate 4 to 5 streams of income at a minimum over your lifetime that, preferably, you own and control.
Active income is income you generate from your work.
Passive income is income generated from your investments in assets, preferably multiple asset classes: business, real estate, stock market, bond market, crypto assets, precious metals, and whole life insurance are some examples.
Invest in your income and your asset opportunities.
Health
Your health is a key component in creating your income and your assets. Excellent health expands these opportunities for you. Poor health is a drain on your fulfillment and joy in life, and poor health is a drain on income and assets. Investing your focus, time, and money in creating excellent health daily is a great habit to create and maintain. (See the April 2024 “Books” of the Month for your opportunities, and don’t miss my post “Create Good Health as an Asset.”)
Your Whole Life
Your Whole Life is what you are using to create and enjoy the life you really want to have. Your whole life is an economic value to put to work for you throughout your lifetime as an asset and income source you own and control. Whole life insurance, when properly designed for you, can be a powerful and flexible financial asset that can make all of your other assets work better for you for your whole life.
These 3 Assets Are Not “Do it Yourself” Assets
You need the right people around you to execute on these properly to save money, eliminate costly mistakes, and to create more wealth for you to use as income and assets-more than you can do on your own.
The 2 greatest fears people have going into their retirement years are:
Outliving their money.
The cost of healthcare in retirement years.
Applying the “Success Formula” as early as you can in your life is an advantage you have that cannot be made up any other way.
“Clarity + Focus + The Right Actions + The Right People + Accountability = Success”
Your thoughts and questions are always welcome!
MSM Advisory, LLC. is a professional practice designed to offer you the customized financial planning advice, strategies and implementation to make your dreams come true. Money matters and this is what the money is for… your vision for your life coming to life… for you.