Invest in assets that appreciate over time from "summary" of The Psychology of Money - Gujarati Edition by મોર્ગન હાઉઝેલ
Invest in assets that appreciate over time. The idea is simple: You want to put your money into things that have a high likelihood of being worth more in the future. This is the key to growing wealth over time. When you invest in assets that appreciate, you are essentially planting seeds that will grow into something more valuable down the line. Over time, assets like stocks, real estate, and businesses have historically increased in value. This is because they generate income or cash flow, which can lead to increased value over time. By investing in these types of assets, you are positioning yourself to benefit from their appreciation. On the other hand, assets that do not appreciate or even depreciate over time can be a drain on your finances. This includes things like cars, electronics, and other consumer goods that lose value as soon as you purchase them. While these items may provide immediate gratification, they are not likely to increase in value over time. By focusing on assets that appreciate, you are making a long-term investment in your financial future. This requires patience and discipline, as it may take time for your investments to show significant growth. However, the potential rewards can be substantial if you stick with it and allow your assets to appreciate over time. In summary, investing in assets that appreciate over time is a fundamental principle of wealth building. By choosing assets that have the potential to increase in value, you are setting yourself up for long-term financial success. This requires a strategic approach and a willingness to wait for your investments to grow, but the payoff can be well worth it in the end.
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