Financial literate people understand that in order to achieve financial freedom, it is necessary to acquire assets and get rid of liabilities. There are many ways to accomplish these goals.
Instructions
Step 1
To acquire assets, first of all understand what it is. Assets are what brings you money. They are also considered to be what you have and does not generate income, but in the future, when you sell this, you will receive more money than you spent on the purchase. For example, the property you rent out is your asset. At the same time, the apartment or house in which you live cannot be considered an asset, as many mistakenly believe, but on the contrary, it is your liability, as it draws money out of you to pay rent, buy furniture, etc.
Step 2
If you understand what assets are, you can purchase them. To buy property for rent, check the internet for the available offers. It is better to buy ready-made housing in a developed, economically stable state. Abroad, you can find very affordable housing, and its profitability, with a good choice, will be twenty to thirty percent per annum. If you are going to use this option, prepare several tens or hundreds of thousands of dollars.
Step 3
If you don't have enough money to buy real estate, buy it on credit. This is beneficial because the bank rate for mortgage lending abroad is significantly lower than the inflation rate in Russia. Use the services of banks in Portugal, Cyprus, Spain - they are more loyal to buyers of real estate from Russia than others.
Step 4
If you do not want to take out a loan and you have some savings, buy a property at the initial stage of construction, and then sell it when the construction work is finished. This method will bring you twenty-five to thirty percent per annum, and with a successful combination of circumstances, all fifty.
Step 5
Do you find earning money on real estate labor-intensive? Buy shares in a fast growing company. However, before you buy shares, look at the statistics of companies and select the one that has been operating for a long time and has established itself on the market. The shares will bring you passive income, depending on the number of securities you purchased and the conditions put forward by the company when selling them. Also, the shares will bring you profit when you decide to sell them.
