There are people in my country that really don't have cash but they own land, livestock among other assets. What do you say about that stature of having assets without cash?
Between owning assets and paper money which is which?
- Thread starter Stardom22
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For me I prefer having assets as
They can generate income, appreciate in value, or be used as collateral.
They can generate income, appreciate in value, or be used as collateral.
eLdavis
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At the end of the day it it's just preference. Personally i think having an asset is better than just having cash.
I would prefer to own assets, in particular land. It may appreciate in value over time. As for cash, you can only earn very low interest nowadays.
For me having cash is indeed very important. There are so many advantages with having cash for instance. Cash is needed to sought up some emergency financial needs
Nomad
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When there is inflation, paper money will lose value, assets can give you more profits and even provide hedge against inflation.
One has to own assets for the future and also own physical money to meet immediate needs. One should build a system to have both.
Paper money in the bank or in cash can easily be spent and won't appreciate. Assets always increase in value with time.
If they do not have any money at all, they will have difficulty meeting their needs, such as shopping for basic necessities, animal feed, etc. If they have to sell agricultural products, or livestock in need of money, they will be sold at a low price so that they will lose, so they should also have both.
