Do work and get paid once. Build an asset and get paid for as long as it lasts.
A retailer or a restaurant owner might work 18 hours a day--but the landlord makes just as much money from that effort, often more. The cheeseburger gets paid for once, but the rent bill comes every month.
Real estate is an obvious and simple form of asset. In 1928, my great grandfather traded his real estate assets for the sure thing of the stock market. The biggest difference between the rental houses he owned and the worthless stocks he bought was that the houses paid rent every month, while the stocks offered merely the promise of a later payoff.
Dear Young Men and Women,
Build your assets as soon as you can...and review them every year.How I wish I read this article when I was 25 years old.Nothing is too late.My late father planted a few coconut trees when he was 70 years old and now his grand children are enjoying them 30 years already.
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