Once Upon A Time Fashion Was Only For The Rich Wealth Creation – Income Generating Assets

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Wealth Creation – Income Generating Assets

Once upon a time there was a young farmer in the south of Malaysia who just got married and bought a new house with his wife. It was a dream that they were both excited to move and settle in this new land. As they admired this piece of real estate, they began discussing what and when they would build. They began to dream of building a garden that produced the most beautiful flowers ever seen, a playground with a playground and swimming pool, a barn full of animals and even a modern house. They were so passionate about all their dreams, but that was the problem. Do they have the funds to build them all?

Count your money

After budgeting, they quickly realized that they could renovate the house or build a barn. The woman wanted to renovate the house and she began to think about how to decorate the living room, the best kitchen appliances for cooking delicious meals, the beautiful bedroom. She knew the color schemes and even the brand of furniture she wanted. The young farmer listened quietly and had to admit that her plans looked really impressive! When she finished, he laughed and said that they should not renovate the house first. He felt that they should use the rest of the money they had to build a barge. He was shocked and sad.

They argued back and forth and she shouted: “Are you saying that animals are more important than us?” The poor man was in a difficult situation and did not know what to say. Guess who won the argument? Renovating the house or building a barn?

Finally, the discussion ended when the farmer said: “Honey, the reason I want to build this barn first is because I know that this barn will generate income that will help us renovate the house, a garden build a pool, and the revenue generated will help us fulfill our dreams.

Build a barn

Well, think about it, like his wife, if you started a family, I’m sure you would want the best house to live in. Why? Because that’s where you eat, sleep and live. It was completely logical! But the wise young farmer proposed a different plan which was to build a barn because he knew that the house was a liability but the barn was the capital of all the profit making activities. Ahab is a place for animals, animals that produce milk, eggs and meat. The barn is where the tools for planting wheat, corn and soybeans are stored. Without a warehouse, he could generate less income.

Back to Reality

In today’s world, whenever someone earns an income, they ignore their storage and focus on decorating their home. If you ignore your barn and build on the property, liability is what you get. In fact, you will start to increase your responsibilities with the latest phones, handbags, cars, etc. Do it. Build a warehouse and the income generated from your warehouse will help you buy the latest fashion accessories.

My personal experience

At the age of 12, I personally understood the importance of spending my money in ‘storage’. In 1997 when the Nintendo GameBoy was a must have for all children the Sega GameGear was the ‘Dream Machine’. Knowing that my parents would never buy me those gadgets, I bought a Sega GameGear with all the savings in my piggy bank. It was probably the best investment I have ever made! My friends who were fans of my new ‘toy’ started renting my toy and I was renting it at the same rate as the video game stores. My only difference was that my ‘customers’ were allowed to bring my Sega GameGear home and I had no business expenses like hiring staff or renting a store. Best of all, I recouped my investment in the Sega GameGear within 3 months and the rest was a net profit.

Lesson Learned

When getting paid, start listing all the dollars you spend. Then identify whether what you are spending on is an asset or a liability. Next, ask yourself: What do I need to spend or invest on to generate cash to finance my expenses?

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