Real estate: According to Andrew Carnegie, an American businessman and philanthropist, “90% of all millionaires become so through owning real estate.” However, real estate has low liquidity and it involves loans that have a leverage effect.
Direct equities: Stock market investment for longer-term in good companies work as an asset and helps you grow your money without any additional inputs. But identifying such stocks at their early stages and staying invested for a longer duration is the challenge.
Financial investments: Bonds, corporate FD, and mutual funds if owned correctly for the long term, work as an asset and give greater returns. However, Fixed deposits and post office schemes can also be considered but they don’t provide good returns.
Commodities: Gold and silver are among the oldest form of assets that one can use in difficult times like recession. These commodities give great returns when other markets are performing low.
Business: Starting a business is risky. But running a successful business is an asset. The richest people in the world grew big only by creating and running a successful business. And, having such a business can make you financially free.
Cash: These days having idle cash in your account is not preferred but this is a great asset in times of opportunities. Companies that are cash-rich are also considered safer from an investment perspective.
Intellectual properties: Patents, copyrights, trademarks, and licensing are the intellectual properties that work as an asset and help to earn more. For eg. Harry Potter books are written by JK Rowling or any patents for new medicines.
Equipment and Machinery: If anyone buys products like cars and uses them for running cab services or tractors use in farms or equipment in factories then these become an asset that helps you to grow financially. As these have one-time investment involved but gives returns for a longer duration.
Brand and goodwill: Creating a brand and goodwill also helps you grow financially. Apple iPhones are the biggest example, people buy them even when they are costly, it is because they have created a brand and trust. Royalty can also be added as an asset.
