Finance_The Greatest Wealth Asset
What is the greatest wealth asset? In a world of high connectivity through text, email, subscription, internet browsing, streaming content, radio, tv… there is a marketing plan dedicated to reach ones intended audience.
With my current self-reflection on observing recent trends and articles that attempt to influence one’s thoughts. It seemed as if people wanted to discuss what the greatest wealth asset currently is. Gold, silver, bitcoin, stocks, bonds, real estate, cash? Which one is the greatest wealth asset?
The simple truth is, TIME. Time is the greatest wealth asset. For millions of people around the world; their wealth has been established over a lifetime of personal growth and development to include financial discipline and dedication. A business that opens its doors does not reach financial success within the first week. It normally takes years of dedication and providing the best service/product to its customer base.
As we start to live longer through advancements in medical and scientific technology / research. We the need to not simply prepare ourselves to live longer, but also the need to work longer in order to reach a financial status that will sustain us throughout the rest of our lives.
There are some in the financial independent community who want to work and grind as hard as they can now, to reach that early retirement age. The fact is that many factors can change over time which can have a significant impact on that projected “end date”.
But what about that person who is the middle of the road. The person who has a standard job or career that can’t dedicate thousands of dollars towards a retirement and must rely on simply $100 or $200 a month as the only contribution that can be made towards a retirement?
Now granted, this doesn’t mean you have to work for the entire time, but at least shows what will happen if someone dedicates to contributing $100 each month for 50 years, at a compounding rate of 6%. The amount they would have at the end of that 50 years would be $371,149.29.
And finally, what if someone can dedicate $200 a month, for 50 years with an annual compounding rate of 6%. The person would be left with an incredible, $742,298.57.
Now how amazing and incredible would this be for someone who is 18 years old, and just starting out at their first job, and they dedicate themselves to just this small amount. 50 years later they have this brokerage account waiting for them.
Does it really matter if you have gold, silver, bitcoin? Or is it more important to establish a self disciplined approach for putting money aside for your future and being dedicated to letting it grow over time?
Time is the greatest asset you can invest it, make sure you start utilizing it.
Leaderistic 