In this blog we will learn about 24 assets for financial freedom. Some of these ideas are such that famous people have done them and they have also got success in it.
My purpose of writing this blog is that people should not run after money but money should run after people. And everyone should take steps towards becoming financially free. Let’s start this blog of 24 assets for financial freedom from the beginning.
24 Assets for Financial Freedom
Table of Contents
What does it mean to be Financially Free?
Being financially free means that we get enough money every month so that we can meet our monthly expenses. We should not have to think about where the money will come from for our monthly expenses, if money does not come then how we will meet the monthly expenses of the house. When we get money every month for household expenses and that too without much thinking, we call it being financially free. 24 assets for financial freedom.
Two ways have been suggested to achieve Financial Freedom –
The first is to save so much money that there is no need to do anything in the whole life and with that money we keep getting money for the whole life. If you calculate this, it is approximately 25 times your annual salary. Meaning if you need Rs 80,000 every month: then Rs 9,60,000 per year is Rs 25,000,000 and 25 times this is Rs 24,000,000.
With this assessment, you can also calculate your monthly expenses and see how much money you need in the first way. This is a way for people who believe that if you save so much money for yourself, you become financially free.
The second way is to create so many assets (movable or immovable) that will give you the amount of money you need every month. Meaning such assets (movable or immovable) which take you into the category of financially free.
By now, after reading this blog, you must be understanding what it means to be financially free. So taking this matter forward, let us see 30 ways to become financially free. I hope that you all will read this blog 24 assets for financial freedom completely and by the end you all will understand how to become financially free in your life.
24. LIC Representative
Becoming a representative of a company is also a very good option to become financially free. Becoming a LIC agent in India seems to be a good option. And good money is also available in this.
For example, if you sell 4 policies for Rs 2,000 per month, then in a year you will have sold 48 policies and for this you will get a commission of Rs 4,00,000 in the first year. Anyone can become an agent of LIC.
This is also a good way to earn money every month and bring yourself into the category of financially free.
23. Index fund
Index funds are a great way to become financially free. In this you have to invest usually for 20-25 years and sometimes even for 30 years. Then your money increases manifold. This is a long way of letting money grow and becoming financially free, which is probably why people invest in it.
You should understand that if you want your money to grow manifold, you will have to keep investing for a long time.
22. Mining
Mining was a very popular job in olden times. Materials like gold, coal, gems like diamond, platinum, etc. were mined all over the world. People were brought here and made to work. But the laborer never got that much benefit.
Those shopkeepers who made clothes for the workers benefited. And those who had mines had only profit. In today’s time this type of mining has become almost negligible. In today’s time, its place has been taken by crypto mining. Money is mined in this.
This is a new type of mining all over the world. Some people around the world earned money in crypto currency and some people lost money around the world. But many people did crypto mining.
This means turning on a computer which will take some electricity and give its processing power, in return we will get crypto coins, which we can sell and make money from them.
21. Building and Selling Mining Rigs
When people were mining crypto, there were certain components required to keep computers running. If understood in simple language, it is a type of central resource unit. So people started making mining rigs in their homes. But some people did not find it appropriate to install these mining rigs at home, so they started selling them.
20. Buying Gold and Silver
Many people believe that by buying and keeping gold and silver, we can come in the category of financially free. But many people do not believe so. But it is mostly seen that there are many people buying gold and silver. If you also believe that buying gold and silver can make you financially free, then this can be a good way.
19. Cash
If you have so much cash that you can withdraw it without doing anything for the rest of your life, then you should deposit that money in the bank and take interest from it and you can count yourself in the category of financially free.
18. Rent your Car
If you have a car and do not drive it much then this is a good way to earn money every month. You can give your car to taxi service people. With this, your car will keep running, remain in good condition and will also keep paying money every month, due to which you can count yourself in the category of financially free.
17. On Rent
This is also a good way to become financially free. You can build 2-5 houses on your plot or remodel your house and then rent them out. With this, you will keep getting money every month and you will come in the category of financially free.
In today’s time, this has become a very common method because everyone goes out of home and works and wherever they go, they have to stay on rent.
16. R.E.I.T
This is a new concept for India. In this, we give our money to registered property experts who then buy good properties and then distribute the rent earned from them among everyone. This is called (Real Estate Investment Trust).
If the price of the purchased property increases then we also benefit from it. There are some selected registered property experts in India namely – Embassy Office Parks REIT, Mindspace Business Parks REIT, Brookfield India Real Estate Trust, India.
15. Farming
Although about 75-80% people in India do farming, but I am telling you to cultivate those things which are not available mostly. Like mushroom, strawberry etc. They are in great demand in India and outside also.
At some places, the government also gives money to cultivate these things. And you also get good money in this, which can count you in the category of financially free.
14. Vacant Plot
Even if you have a vacant plot, you can earn good income every month. Many companies are looking for warehouses, many companies can take your plot on lease from you for setting up their factory, or can even buy it from you. There is problem of parking in many markets, so you can also give your plot in parking on monthly basis.
13. High Income Skills
If you know any knowledge which is in demand nowadays then it can give you high income. For example, mobile application development, consulting etc.
12. Equipment
You can buy and sell equipment that not everyone has or can afford. You can help them by giving them equipment. Or you can also earn money every month by giving these equipment on rent.
11. Affiliate Marketing
If you are good at marketing or consider yourself good at it then this is for you. But if you do not have any of your own goods to sell, then you can sell the goods of others, which is called affiliate marketing. In this, when you sell goods of others, that company gives you commission. This is also a good way to earn money every month and bring yourself into the category of financially free.
10. Dividend Stock
Many companies make so much profit and become so big that they feel that the people who have invested money in their company should be made happy by giving them profits. Some companies share profits every month, some once in 3 months and some once in a year.
So if you also have stocks of such companies, then you can also bring yourself into the category of financially free with their dividend income.
09. Bonds
Just like we buy shares of a company, we can buy debentures of the company. We can understand the debenture as a fixed income instrument which we give to a company as a loan. This is also a safe way to earn money.
We can buy bonds in many ways. Firstly, we can buy debentures (bonds) of the company, secondly we can also buy debentures (bonds) from the Reserve Bank of India. The interest rate on bonds of Central Reserve Bank is 7.15% which is better than fixed deposits.
This is also a good way to earn money every month and bring yourself into the category of financially free.
08. Angel Investment (Angel Investor)
This method is a bit expensive. In this method you should have minimum Rs 5 lakh and maximum Rs 5 crore. An angel investor is someone who is ready to invest money in your business, in your plan, in your vision. Angel investing requires more money, so this thing is not for everyone, but people make a lot of money from this too that is why I have told it here.
07. Online E-Book
If you know how to write or have interest in writing stories then you can get your own book published. Nowadays, there are many platforms available online that allow you to do this and get published for a small amount of money and some even for free. This is also a lifelong way to become financially free.
06. Renting Out Your Home to Tourists (AiR BnB)
This method is found in many countries outside India. We can give our house to tourists to stay. Helps us accomplish this task (AiR BnB). We can list our houses (AiR BnB) and give them on rent. Nowadays tourists go everywhere both in India and from outside India.
Tourists can stay in a nice house for a small amount of money and AiR takes full responsibility for it (AiR BnB). This method is growing very fast in India these days. Tourist can see the picture of his habitable house on (AiR BnB) and can apply for it.
05. Freelancing
If you also have any skill then you can start your work on your own. Its advantages are that in this you decide how much time to give, when to give time, when not to work etc. All this remains under your control. You yourself can tell the other person what is your way of working and what is the time limit you have set for yourself.
Nowadays people are earning lakhs in this way. Even if you have just started, you can work for money and count yourself in the category of financially free.
04. Facebook Ads
Facebook advertising is a marketing skill that works wonders when combined with your business acumen. Many people are using it nowadays. Its biggest feature is that it does not contain any product of yours, you are just selling the products of others with your business skills. Those products can be of both types.
Either you can help someone in selling the products in his shop or you can promote his entire shop. Or you can sell someone’s digital product or help them in selling it. Nowadays, this method is being adopted all over the world and very good money is also being earned from it.
03. Youtube Channel
If you are good at something or you know something very well then you can share your knowledge with other people. And that too for free. In return, YouTube gives you money by showing ads in your videos.
This has two benefits – firstly, your identity becomes known due to which big companies work with you and also pay a lot of money. You work with them on your terms. Your lifestyle changes and you start being considered a respectable person.
The second advantage is that people start believing in you that whatever you have said is absolutely correct. This is also a good way to earn money every month and bring yourself into the category of financially free.
02. Digital Course
In today’s times, ever since Corona has arrived, all the ways of doing jobs and earning money have changed. Nowadays everyone has started paying attention to skills. So if you also have any skill then you can create a digital course for it and earn good money.
This method will keep you earning money throughout your life because people will keep buying from it and you will keep getting money. The advantage of being digital is that the stock never ends. You can share any kind of knowledge like video editing, investing, Photoshop, in the form of a digital course.
01. To Blog
If you like writing and want your knowledge to reach the whole world, then blogs are for you. In this, you have to write according to your knowledge and whoever comes searching for those things on the internet, they will find your thoughts in the blog written by you. You can also earn money from this.
The more people visit your blog, the more money you will get. The method of earning money from blogs has been in use all over the world for a long time, but now it is gaining hold in India too. Even 16-18 year old people are earning a lot of money from blogs.
People holding good positions have left their jobs and started blogging because they have understood that they can make good money through blogging. If you are reading this, then let me tell you that this is also a blog.
Conclusion
These are some ways by which you can earn money and move towards becoming financially free by the above 24 methods. All these methods mentioned by me can help you earn money, but for that you will have to work hard.
Many people may not be able to earn money but do not be disappointed. Life is about falling and standing again. It is possible that many people may succeed in the first attempt. To do everything, it is very important to have knowledge of that thing. So whatever you want to do, understand it completely first so that there is no mistake.
Nowadays everything is available on the internet, so look for people who are already successful in every field in which you want to work. Listen to them, read them, learn from them and then implement them for yourself. You have to give time to everything to become successful. As time passes, you will gain knowledge and you will keep doing better than before.
If you liked this blog and if you feel that these given methods will help you in becoming financially free, then spread this blog to as many people as possible and make people benefit from it.
