[00:02] circle. In this video, I'll be talking about seven assets you should own to make money for yourself. Now these assets are income generating asset that is asset that can make money for you. Before we get into this video, if you're
[00:14] personal finance circle where we teach you how to make money, multiply your way. So if you love content like this, kindly subscribe to this YouTube channel and please like this video. Thank you. Now, if you're looking for how to make
[00:28] money and get rich faster than the average person, it is definitely by accumulating income generating asset in your portfolio or by having multiple is that you don't need to work yourself out every day before you can have
[00:42] multiple sources of income. You can simply accumulate income generating assets and make money while sleeping and still get rich. But what is an income generating asset? Now an income generating asset is an investment that
[00:54] generates consistent income or recurring revenue over time. Now some of these assets require little to no money to start while others require significant amounts of money. Now income generating assets are so important in anyone's
[01:07] financial plan. Now these assets can include investments in stocks, bonds, real estate and other related assets and they can include income from rental properties, royalties and any other form of income. Now let's talk about these
[01:20] seven assets you should own to make money for yourself. The first one is dividend stocks. Now a dividend stock is a stock that pays regular cash dividend to it shareholders. Now the amount of dividend is usually a fixed amount and
[01:33] is paid out either quarterly or annually. Now dividend stocks are a great way to generate income especially if you reinvest your dividends because over time reinvesting your dividends can lead to a significant growth in your
[01:46] stocks is my favorite way of making best asset you'll find in a millionaire's investment portfolio. And investing in dividend paying companies means you get a share of the company's
[01:59] profit on a regular basis. It's like getting paid for owning a piece of a successful business. Now, what is a dividend itself? A dividend is an amount of money typically expressed in percentage that a company pays to
[02:11] shareholders, that is you, from the company's profit. It is a way for the company to say thank you to its investors for investing in the company. dividend stocks is that they are less likely to experience sharp declines in
[02:24] value during market dips. And this is because we have two types of stocks in stocks and we have the dividend stocks. The dividend stocks, they don't really go up and they don't really go down. So when there's market dip, it won't really
[02:37] really go up and they really go down. And in case you are wondering how following are reasons why you should have dividend stocks in your asset portfolio. The first one is that dividend stocks help you to generate
[02:51] that they help you to grow your investment portfolio. And the third like I said and the fourth reason is that the returns or the dividends you can earn from them are unlimited. And before investing in dividend stocks,
[03:06] it's important to understand how they work and the risk involved. Dividend stock can be a great addition to your portfolio, but they also have their own stocks? The best way to invest in dividend stocks is to open an account on
[03:19] an app or platform that allows you to invest in stocks. For example, in Nigeria, you can use the Trove investment app or the Bamboo app. Now, the Trove app is an awesome investment app that allows you to invest in local
[03:31] and foreign stocks for as low as $10, while the Bamboo app allows you to invest in US stocks and fixed asset. And if you need videos on how to invest in dividend stocks on either the Trove app or the Bamboo app, we have videos on
[03:44] them. I'll put the links to those videos in the description below. Now, the estate is one of the best income generating asset you'll find in every profitable investment portfolio. It is one of the most popular investment
[03:58] vehicles. It offers a high degree of liquidity, which is important if you are looking to invest and move quickly. Also, real estate is a stable investment that typically offers a higher yield than other types of investments.
[04:11] Investing in rental properties can be a fantastic way to generate consistent income for yourself. Now, when you own rental properties, tenants pay you rent, and that rent can even cover any of your expenses. Also, real estate tends to
[04:24] appreciate over time, increasing your net worth. And to ensure that you make the best decision when you are buying or selling a property, it is important to get a real estate expert on your team. A real estate expert can help you navigate
[04:37] the process and find the right property and as well as provide guidance on the best way to market your properties. And I personally love real estate for two reasons. Now the first reason why I love real estate is the rental income. Now
[04:49] rental income is the money coming in every single month or every year with just a minimal amount of work from your side. Now, rental income is a great way to make some extra cash for yourself and it can be a way to supplement your
[05:01] income. Now, if rental income is your focus, there are a few things you need to keep in mind. First, you need to make sure that you have a good rental in bad shape or that does not have the features that tenants are looking for,
[05:15] from that property. And secondly, you need to make sure that you are marketing your rental property correctly. You need to find the right rental property you're using the right marketing strategy. And the second reason why I
[05:28] appreciation. Now, population numbers are increasing every year and even with the economic conditions, people are still looking for houses to buy or to rent and the demand is increasing. Therefore, the prices of properties are
[05:41] going up and this is making real estate one of the best income generating asset anyone can make. There are different real estate properties you can invest in. You can invest in residential buildings, um, office buildings,
[05:53] commercial buildings, and even land. Now, the next asset is cash. Now, you might be surprised to see cash on this list. Now, cash is another asset that can make you rich. Cash in the bank earns you interest, but we all know that
[06:05] the interest paid by the bank isn't even keeping up with inflation. But having cash is still very important to get rich. Now, the big companies in the world do have a lot of money in cash reserves. For example, if you look at
[06:17] Apple, Apple has over $200 billion in cash reserves. And if having cash is not that important, then tell me why they have this much cash in reserve. So this shows you how important it is to have cash. Now why should you keep cash? Now
[06:30] the main reason why you should keep cash at hand if you want to get rich is to be able to access investment opportunities that can come at any time. Now just way and you don't have the cash to access this opportunity. That would be
[06:44] very very sad. So that is why rich people always have cash at hand so they can be able to take advantage of any opportunity that comes their way. For number four, you have index funds. Now what is an index fund? An index fund is
[06:56] an investment fund where you put your money and invest in various companies all at once. Now for stocks, you can buy shares of different companies one by one. But for index funds, you can bring multiple companies all together and buy
[07:09] into that index fund at once. Now how do index funds make you rich? Now, investing in an index fund helps you to diversify your investments and it also saves you from the stress of analyzing different stocks. It is also advisable
[07:23] So, if you're a beginner, you want to start buying stocks one by one, there's a higher chance you will pick the wrong stocks. But if you pick index funds, that's better for you. And statistically, index funds are the best
[07:36] performing asset class and they are very good for every profitable investment portfolio. Now, how do you invest in index funds? Now you can have access to index funds on the Trove Investment app and there are different index funds
[07:48] you'll find on the app. For example, you will see the Fidelity Zero large cap index fund. You'll find the Vanguard S&P 500. You'll find the eyes share core X&P 500. You'll find the eyes share core X&P 500 and you'll find the Schwab XMP 500
[08:01] index fund. All of these index funds contain the top 500 companies in the United States. So if you invest in this index funds, it means you're investing in the top 500 companies in the United States. I hope you get it. For number
[08:15] five, you have digital product. Now a digital product is an intangible asset or piece of media that can be sold and distributed repeatedly on the internet without the need to create it multiple times. Now this digital product often
[08:28] come in different forms like music, PDFs, videos, templates and so on. Now information is an expensive asset in this age and it is infinitely scalable. You can write an ebook once and you can sell it a million times to make money
[08:43] and you can do that for other digital product like your course your template and so on. And once you've created something valuable platforms like UDI or Amazon Kindle or even your website can help you reach a global audience. Now
[08:57] can help you build an online business and it can make you rich. The key is to create something that solves a particular problem or something that your product is out there, you can continue to earn passive income from
[09:11] your digital product. Now, if you are thinking of digital product to sell the 13 digital product you can sell online to make money for yourself. I'll For number six, you have cryptocurrencies. Now, cryptocurrencies
[09:26] are digital or virtual tokens that use cryptography to secure their transactions. Now, Bitcoin, the first and most well-known cryptocurrency was created in 2009. And cryptocurrencies are decentralized, meaning that they are
[09:39] not subject to government or financial institution control. And if you are not yet into crypto, I'm sure you don't know cryptocurrencies are among the assets that can easily generate income for you and make you rich. Now, why should you
[09:51] following reasons are why you should invest in crypto. Number one, you can a video that will show you how you can earn passive income with crypto. The description below. The second reason is that the returns in crypto are
[10:07] unlimited. The third reason is that the more money you invest in crypto, the more money you can make. And another reason is that crypto is the money of crypto? Now, the best way to invest in crypto is to open an account on
[10:20] platforms like Binance, buy and invest in cryptocurrencies of your choice. And if you're looking for cryptocurrencies to invest in, I have a series on my cryptocurrencies to invest in every month. So, if you haven't subscribed to
[10:34] that right away. Just search for your learning on YouTube. Now, the last asset is yourself. Now, one thing you should asset. Now you might not know that you are the highest yielding income
[10:48] generating asset for yourself until you start investing in yourself. I'm sure you've had a lot of times where people say invest in yourself. But a lot of people keep ignoring this. Now when you invest in yourself, you earn the highest
[11:00] rewards. This is because you are the investment and you also the investor. Only you can determine if the investment you've made in yourself will do good or we do bad. In fact, you need to always invest a percentage of your income back
[11:13] into yourself. And remember that you have to put in time, energy, and money to achieve your goals. And you will need to be dedicated and consistent. And remember that success doesn't come with shortcuts. Now, when you invest your
[11:26] money and time in yourself, you are guaranteeing your own future success. And if you're looking to invest in yourself and learn about something new want to check out my video on the nine income skills to learn in your 20s. I'll
[11:41] put the link to that video in the description below. So, there you have it. These are some of the best income generating asset that you can invest in to make money for yourself. Now, remember to always let your money work
[11:53] for you by using them to acquire some of these assets. And also, the key to success is to start investing early and stay consistent. Now, as you go on investing in these assets, remember to also diversify your investment. Don't
[12:06] put all your money into one asset. Make sure you understand what you're investing your money into and know the kind of risk involved in each investment. It is very important. Thank you for watching and I'll see you guys
[12:18] you for watching and I'll see you guys in the next video. Bye.