A big part of your financial security can come from assets that you own that pay you a residual income. It’s a big part of our family money plan. We continue to buy assets and add them to our portfolio. Some of the more common assets that provide income are:
Those are the more main stream ones. In fact, if you go to a financial advisor they will most likely put you in one of those asset classes.
But one thing you don’t hear about is digital assets.
What Are Digital Assets?
By my own definition, a digital asset is anything that is in digital form that has value or can provide you with money on either a regular or temporary basis. The cool thing with digital assets is that you can build them with very little money, and that asset can exist forever virtually.
Digital asset (def’n): Anything that is in digital form that has value or can provide you with money on either a regular or temporary basis
Some different types of digital assets:
- Website or Blog (Which is easy to start with this guide)
- Ebook, course or other learning media in electronic format.
- YouTube videos. (Where you can do a “how to” videos, sell a product, or just entertain your viewers)
- Pictures (Things like the iceberg photo has earned over $900,000 in royalties so far)
- Social media followings
- Writing, a website can be an asset, but so can a single post if done properly.
What’s The Point Of Creating A Digital Asset?
Digital assets are easy to create and launch, for the most part. The system around promoting them can be the hard part but not always. The whole point of creating digital assets is for the potential earnings that you can create.
I have a friend who makes YouTube videos in their spare time about how they create new things (for their own protection let’s say its woodworking). With woodworking you can do a whole bunch of videos, from which saw to pick, to what wood is best, to patterns, stains the list goes on and on. You could do write ups on the best products to use. Answer peoples questions. The possibilities are limitless with some topics.
As you make more videos on a topic you become a trusted advisor to others. Soon they seek you out when they have questions about your topic. All it takes is action and your hobby could turn into a viable business.
How To Protect Your Digital Asset
Own A Website
No matter what you are looking to do having a website to host your digital assets is a good idea. That way you can have all of your information together and you control it. You can still post to YouTube or where ever else you would like to post but having a site is yours completely.
It also protects you from changes in other companies algorithms. Let’s say you are blogging on Medium and one day they decide they don’t like you any more. Or change their algorithm and you disappear off their feed, well then you are screwed.
With a website you own the rights to whatever goes on it. As things progress you can turn your site into an income generation machine. This site generates income on a daily basis. Some days it’s tiny (10 cents), other days it’s over $100. But the nice thing is that it does this on it’s own. I create content and promote it but much of the income it produces I do nothing active at all.Click here to start your own website
Final Verdict On Digital Assets
The reason why you won’t hear about digital assets from your financial advisor or broker is because there is nothing in it for them. There is no way for them to earn a commission from your website or videos. Digital Assets are a great way to get in the game at a very low cost and see what you think about it.
Remember it’s you are in charge of the ship with your finances. Whether you decide to go all in on your building some digital assets of your own or not, you should think about it.