Isn’t this a fact that the majority of rich people have not become rich just on the basis of salary. They slowly and steadily built assets that allowed them to generate multiple income streams and without worrying much about time (i.e. how long it took to create successful product). Although these people have valued time the most.

Here are some great examples:

Mark Zuckerberg, at the age of 20, developed his business idea to create Facebook, world’s largest social networking site, and is now worth billions of dollars.

Warren Buffet has developed his fortune through his various companies and intelligent stock market investments focusing on long term wealth creation.

Bill Gates and Steve Jobs had a well-defined idea. They both had a vision and direction to achieve their objectives. That along with other factors resulted in two behemoths – Microsoft and Apple, the most trusted brands in the world.

And there are many such examples.

What are the key takeaways from these success stories?

Inspirational individuals mentioned above have all worked for themselves and created one asset made it successful and later expanded their product portfolio, and made most of them successful through patience, hard & smart work, prudent mind and effective business skills and much more. Of course, not everyone has such skills or inclination towards creating successful businesses, but it is important to at least try to diversify your sources of income. Employment gives us a sense of security but also a situation that can be dangerous in any unfortunate event such as job loss.

The problem with working for a company is that we exclusively devote our time to earn a fixed salary at the end of the month. No solution to earn more, except to work more hours for some business focused individuals who use your skills to generate profit.

However this does not mean that you should be against salaried employment. Because it is very important to have professional stability, to discover a field you love and to forge professional links.

Indeed, the problem is that at the beginning of each month we find ourselves with the same financial situation. How much money could we save? For some, this could be a large amount but for others a small amount or nothing at all in the worst case, since their only source of income has been spent.

What is an asset and why build it?

It is something we own (full time or part-time) which generates income. It is therefore through the multiplication of assets that we can really enrich ourselves and multiply income sources. In addition, the risk of having no income is therefore diversified.

This is the crux on which we must work to gain financial independence as soon as possible; because time has a financial value.

What actions can be taken to add assets?

The most important asset is YOU! It is therefore necessary to develop a habit of learning right from the beginning, thanks to free resources available online. By investing in books and training, with better knowledge, smart financial decisions can be made.

Then, we must identify which assets represent an opportunity according to our situation and which ones we are able to develop (real estate investment, stock market…).