Work, Assets, and Liabilities
Recently I have been having a lot of conversations about work and money. One thing that keeps coming up is the grind of work.
On the one hand, work gives us a predictable income and the ability to get loans/mortgages.
On the other hand, our income is capped, and if you can't work you don't get paid (generally).
Building Assets
In my previous article about making money I talked about how with affiliate marketing, you can work once and earn into the future.
That is a kind of asset.
Your vested Steem can also be considered an asset, as in theory you could earn into the future from the work or dollar investment you made.
Liabilities
On Steem a liability could be that you are renting a delegation. You have to keep paying to have that delegation, rather than being gifted it or having earned the Steem yourself.
Liabilities are often talked about in the negative, but if you get Return on Investment then it is a positive thing to have that liability.
Classically we would say real estate is the best example of a liability that pays off. You get a loan to build or purchase a property, which increases in value and offers a return greater than the loan plus interest.
Turning Work into Assets
So what do we do?
As far as possible, convert your work into rewards and the rewards into assets.
Or work to grow assets directly (eg. building your own website).
But you need to live!?
Yes, very few of us can convert 100% of our income into assets. We need food, shelter, etc!
And life is not about suffering if you can make yourself at least a little happier and more comfortable. I am NOT giving up my lattes ;)
But the principle is there.
Work and Art
Some of your work will be for pleasure, hobbies, learning.
Consider as well as the deliverable or outcome, the knowledge and experience you gain from work is also a kind of asset. One people are willing to pay for.
One thing I do, while small. Is to put my digital "spare change" from purchases into a small stock portfolio through Acorns. Once I have more money I plan on making more serious investments but so far Acorns is a great way for people to start investing in the stock market. For more info and to get started check here: https://acorns.com/invite/QJDQZU
Also, I look at career skills as assets. Especially if I enjoy doing the work. Because in the long run, more skills can equal more $$$.
Great post. Upvote. Here is a potential way to turn an asset into passive income
https://steemit.com/masternode/@cocryptominer/masternodes-part-1-a-new-way-to-generate-passive-income