Income and asset go hand in hand. But are we sure about our greatest asset in life? When you go in the crowd and ask people this question, the common answer which you will get:
- Some will say it’s their house
- Some will say it’s the bank account
In both the cases the answer is wrong and do you know why? We neither can own a house nor can enjoy a wealthy bank account if we don’t have a good income. The desire for becoming a rich man will get shattered when you don’t have a good income to fulfill it.
So what is income? It is the regular flow of cash or anything equivalent to cash for the work or activities you do on regular basis. We can get regular flow of money from following honest sources:
- Salary or wage
- Interest from capital invested
- Rent from tenant
In spite of the above sources there are various other sources from which we can earn income.
What is an asset? Anything which is tangible or intangible in nature and is capable for the regular production of value having economic value in positive way is popular as asset.
Is a good income the greatest asset?
We all dream to own a house of our own, but wait for a moment to think that how it is possible to pay the EMI of the mortgage loan if we don’t have a secured source of income to earn money. How will you manage to pay for the food you eat, the clothes you wear, the house you rent to stay, the debt you have taken from market and many more are there on the list. So there is no doubt on the fact that without a decent amount of regular income it is not at all possible to lead a life full of valuable assets and enjoyment.
The ability to work to earn a decent income is your greatest asset without any doubt. You cannot support the lifestyle which you dream to keep-up until and unless there is a good income source for you. Before we plan to own any valuable asset for us or for our family, first we need to concentrate on the source of earning. It is also true that we cannot work lifelong to earn the bread for family and some time or the other our working ability will come to an end.
So we need to get serious when it is time to earn a good income to secure the future of the family. It may also happen that due to some serious accident or health issue you may end up facing a physical disability and you are no more in a position to earn livelihood. So you need to own the secure protection of paycheck by availing the insurance benefit at the time of any such situation.
Thus, we can very well understand the fact that a good income source is the greatest asset in our life and we cannot ignore this reality at any cost.