Each asset, each purpose

[abhiseshakana]

For new graduates or new workers, your plan sounds too good to bee true, too complicated and too perfect. Especially for young generations who lack capacity, i will suggest them focus on financial safety first (emergency fund for minimum 6 months live cost). Too early to practice diversification when many of them usually trap in lifestyle expenses. Your plan too ambitious too be executed with fact that many people has limited even live from paycheck to paycheck, low skill, no financial literacy, no experience but your all your asset needs big capital, knowledge and high flying hours, even crypto need patience and risk tolerance.

From my own experiences, business  can not be categorized as steady income, because business mostly is high risk, not stable and only spare success room for experienced and though people. Building wealthy for new workers which start from zero even minus has step by step which each check point must be pass in sequence, start with ensuring income is bigger than basic needed expenses, saving for emergency fund and please considering inflation every year for its amount, i also put protection as umbrella for my family if shock happen. I suggest to all my kids, as income, their skill must growth also and it will be their biggest asset because it can create additional income. After all you can think about investment depend on your choice but without any experience invest on business will like gambling. My 10 yeras old daughter has start her own business for 2 years, she learned earning income from selling dessert, starting from her school now she has many customer. She takes many online course and practice her financial literacy lesson. Because all her needed still supported by me,  all her income become asset saving, and she choose gold bar. If you start in early years retirement on 30 years old is not illusion because everthing need time, investment need times to grow, income need time to increase and asset need time to soar.

[noorman0]

It can be different depending on the country, right now we are focusing on our country, and as a citizen, how we can grow into wealth within out country.

I think this is inappropriate. You can adopt other countries' cultures regarding wealth allocation. What many people fail to do is maintain the same lifestyle after they've just reached a financial level. It can start with something simple, for example, wanting a new residence in a more convenient area with access to more comprehensive services while putting financial considerations aside.

[Agbamoni]

Your concept is ideological enough, however in attaining such level of assets availability, you need a huge level of financial support base, and for somebody who wants to retire in his 30s it then means, you're income accessibility will be astronomical for you to have some of these assets you are outlining because these are something that naturally take years to build, and it's not always easy to do that in your 20s, at best you should be attaining such possession within early 40s. Why am saying so is that, hence the intention is clear, it's always good to create room for hiccups, as having some of this assets is not like a rollercoaster kind of a thing, it takes time.

You dont need all the money in the world before you retire. The word "astronomical" regarding the income needed to retire before 30 is absurd.
I have seen the elderly retire with the little they have that can sustain them. I believe that if I achieve my goals with the little income I have currently, what I wish for myself will become a reality. In this life, nothing is impossible if you wish it, dream it, plan it, and achieve it. At this point, I'm more focused on the possibility, not the limitation.

[Hanadawa]

I have seen the elderly retire with the little they have that can sustain them. I believe that if I achieve my goals with the little income I have currently, what I wish for myself will become a reality. In this life, nothing is impossible if you wish it, dream it, plan it, and achieve it. At this point, I'm more focused on the possibility, not the limitation.

I agree that nothing is impossible if someone works hard and has dreams and goals in life. For example, the goal of retiring before the age of 30 with diversified investments across several assets and instruments. But I think for most people, that seems unrealistic. I'm not forbidding someone from having big ambitions. Because big ambitions will open up many possibilities and you won't be limited by fear and pessimism. However, considering the average salary of workers in my country today, I think it's nearly impossible for them to own several assets and retire before their 30s. Another option is to become a businessperson, but without a large amount of capital, you have to build your business first before taking profits to buy other assets. To me, a small income with big ambitions seems unrealistic. Unless you happen to network with successful people, or you're diligent enough to learn and buy books or pay for classes with your salary to improve your skills and generate additional income.

[CONVOAI]

What you said about stocks is right but it is powerful for growth but it is not just about buying stocks the type of stock you are buying is also important. If you pick random stocks the risk will be higher. I think it is better to have a diversified portfolio such as investing index funds or ETFS or different sectors. This way even if the market goes down the entire investment will not collapse at once.

[davis196]

So lately, I've been willing to have this discussion with my brothers and sisters. In the process of building our life, most especially for us who have plans to retire at the age of 30, there are things we need to set in place towards financial stability for now and in the future.

Retire at the age of 30? There's no way for you to retire at the age of 30, unless your dad is a millionaire and you inherit all his wealth.
I've never really understood the "retire early" movement. What's the point of retiring early and what are you doing to do with your life? Are you going to just sit all day and do nothing? Having a job sucks and having no work and doing nothing all day can be totally boring and mind numbing.

Cash an asset for survival
Business is an asset for a steady income, and can also be for inheritance
Stocks are an asset to elevate your finances and growth
Real Estate is mostly for Wealth and a backup for inheritance
Gold mostly for value protection.
Bitcoin acceptable future store of value and inheritance
Land is acceptable for inheritance.

Cash is NOT and asset. It's a medium of exchange.
Having your own business is not an asset. It's a way for to generate sufficient income and to gather more assets.
Most businesses don't have a steady income. Stocks prices aren't going up all the time. And what do you mean by "acceptable for inheritance"?
Are there any assets, that aren't acceptable for inheritance? I think that all assets, that are mentioned in your list are acceptable to be inherited by your children.

[jcojci]

That is a good plan so we can prepare from now on. We will uses many things that we have and all things will have different purposes of life. We will not prepares for our lives but also prepares our kids so they will not have a difficulty to continue their lives. They will have plan for what they should do so they can do the rest to survive. We hopes that will really helps our lives and our kids so nothing to be worry in the future.

[Dave1]

That is a good plan so we can prepare from now on. We will uses many things that we have and all things will have different purposes of life. We will not prepares for our lives but also prepares our kids so they will not have a difficulty to continue their lives. They will have plan for what they should do so they can do the rest to survive. We hopes that will really helps our lives and our kids so nothing to be worry in the future.

It's going to be very hard if we don't prepare for now, or if we haven't really prepared for the worst. Specially I learn it the hard way so now, I really do keep something so that in terms of needs, I will have something to do into my bucket and not suffer the same consequences as before.

As for our kids, we should also mold them that in life, it's not always that they will get what they want. Sometimes, we need to sacrifice things in order to move on. And maybe also teach them to become a good investors though, not just in crypto but in any other asset that will give them profit.

[Spaceman1000$]

Your concept is ideological enough, however in attaining such level of assets availability, you need a huge level of financial support base, and for somebody who wants to retire in his 30s it then means, you're income accessibility will be astronomical for you to have some of these assets you are outlining because these are something that naturally take years to build, and it's not always easy to do that in your 20s, at best you should be attaining such possession within early 40s. Why am saying so is that, hence the intention is clear, it's always good to create room for hiccups, as having some of this assets is not like a rollercoaster kind of a thing, it takes time.

You dont need all the money in the world before you retire. The word "astronomical" regarding the income needed to retire before 30 is absurd.
I have seen the elderly retire with the little they have that can sustain them. I believe that if I achieve my goals with the little income I have currently, what I wish for myself will become a reality. In this life, nothing is impossible if you wish it, dream it, plan it, and achieve it. At this point, I'm more focused on the possibility, not the limitation.

It is not an open end for someone who wishes to retire in his 30s not to do so, my point is simply, attaining such height for most young persons comes with lots of challenge, those challenges are what your not putting into consideration, there are just a handful of persons that have retired in their 30s, for some of them, it has been generational wealth, but starting from the scratch and retiring at 30, with the current dynamically economic confrontation looks a bit dicey.

[Zigabel]

Retiring at age 30 is such a big dream, really achievable but I suppose you must be exposed to a lot of resources at a very early age to get this dream a reality, but at the same time, some persons actually gets really lucky enough and with the little they do, they get to hit it huge very early enough and could actually retire at a very young age. Your assets planning and their function sounds really ideal , for someone who has all of this in place, they can be sure to have their worries lowered down a lot.

The biggest challenge will be with building all of this and making it come through as a reality, for people who are in developing and under developed countries, it will take them years of hard work to get all of this in place and some may spend their whole live putting this in place and it may just end up as an inheritance plan for their children. Trying to achieve a stable source of income first will do great good then you can proceed to build on that.

[CryptoHeadlineNews]

Generally, this is my conclusion;

Cash an asset for survival
Business is an asset for a steady income, and can also be for inheritance
Stocks are an asset to elevate your finances and growth
Real Estate is mostly for Wealth and a backup for inheritance
Gold mostly for value protection.
Bitcoin acceptable future store of value and inheritance
Land is acceptable for inheritance.


Public disclaimer: I am not a financial advisor.

For me, I think everything you just mentioned above is actually what contribute to what we call worth, as it comprises both inheritance and your current investments. And no doubt, cash is basic and necessary for day to day transactional affairs and for survival, and likewise businesses are a guaranteed way of generating daily incomes, which also determines how worthy you might be as they compound over the years. While Bitcoin and Gold stands to be the protector of the value of whatever assets or revenue we might have generated from businesses as an investment opportunity to avoid it losing its values due to poor government policies and inflation. Hence, the need why all these investment opportunities is very important, as they compliments one another.

[Japinat]

Feels like this is everyone's dreams and goals. Apparently, one can only achieve this kind of ideological mindset if you are born with a golden spoon, or when all the luck, favor and chances are aligned with your dreams and aspirations in life.

With life getting more expensive and just everything comes with a price, sometimes I just wish to retire early and enjoy all the benefits I have been working since day one. And just focus on investing and growing them while taking chances to diversify them while luck and favor are still there.

In the end, the most important thing is, you are on the right investments, otherwise it would be impossible for early retirement when you have not seen good output yet from your hard-earned money and time.

[Unknown Op]

Feels like this is everyone's dreams and goals. Apparently, one can only achieve this kind of ideological mindset if you are born with a golden spoon, or when all the luck, favor and chances are aligned with your dreams and aspirations in life.

With life getting more expensive and just everything comes with a price, sometimes I just wish to retire early and enjoy all the benefits I have been working since day one. And just focus on investing and growing them while taking chances to diversify them while luck and favor are still there.

In the end, the most important thing is, you are on the right investments, otherwise it would be impossible for early retirement when you have not seen good output yet from your hard-earned money and time.

Every person want to be safe in life and they want to save money and create wealth and they are doing different investments to create wealth because people will give more attention to them when they have more wealthy. If you see doing investment for the future then that is best for you because you did for you child who are not mature at that time and they need expenses of study and it is possible if you have strong back up and if you are doing investment on monthly basis then you will be happy to be rich in a future and your child are also your asset because these will support you in a crucial time when you have no money and no energy and they will give you support to be alive. People are doing hard work for money and that is best for them.

[Yeesha]

That is a good plan so we can prepare from now on. We will uses many things that we have and all things will have different purposes of life. We will not prepares for our lives but also prepares our kids so they will not have a difficulty to continue their lives. They will have plan for what they should do so they can do the rest to survive. We hopes that will really helps our lives and our kids so nothing to be worry in the future.

Every parent prioritise their children over everything, in fact every sacrifices they make is for children's future. They always try their possible best by working so hard in order to secure a better future for their children, family or loved ones. Assets are kept for the purpose of children's future and financial stability. But the most important thing is to invest in productive and fruitful assets, and not the ones that will drain you down and causes more financial problems. Each aspects should have their own purpose as long as they don't cost us any unnecessary, if not, I would say that having a single, beneficial, fruitful and productive asset is far better than having several assets that cost you unnecessary expenses and wouldn't be productive.