Investment Consultant, Mr. Victor Tandoh, has advised individuals and couples to obtain assets rather than liabilities.
According to his, many of the things’ people claim to be assets are rather liabilities and that needs to change.
In simple terms, he explained an asset as “anything that gives you money whiles a liability is anything that takes your money.”
In a counseling session with registered couples in the upcoming 2023 Happy FM Mass Wedding, he said, “If you buy anything that doesn’t add profit to you, then it’s a liability not an asset. But if you buy something that will make you gain profit, that’s an asset so you need to be careful what you go in for.”
Citing an example, he mentioned that if he buys an expensive phone and it’s doesn’t give him anything in return, it’s a liability but if he’s a photographer or one learning or working with the phone, it becomes an asset because he’s making gains from using it.
“We need to know the distinction between both and know how to use them accordingly. As individuals, I believe you need to get to the stage where your assets outweigh your liability because whether we like it or not, you’ll come across liabilities but try and make sure your asset is more than that,” he charged.
He stated some examples of assets as, investments, businesses, stocks and many others.
The investment consultant added that it is advisable to also consider where you are and find out which asset you are comfortable with and can build for yourself.
By: Gyamfuah Owusu-Ackom
