Assets(i) vs (common meaning) assets
Let us denote such income generating assets as assets(i) to differentiate it from the common meaning of the word "assets" which includes non income generating items like buying a big house for our own accommodation, etc. This will keep reminding us of the difference.
Set your financial goals in terms of sustainable and recurring periodical income. Maximize the income generating capability of your assets(i). As you grow older the income generating pattern should change. You move away your income generating assets(i) from human assets(i), i.e. your time and labour, to financial assets(i), i.e. businesses, stocks, real estates, etc. You must then remember to protect these assets(i) accordingly.
Part 1 : The conventional idea
Part 2 : The breakaway wisdom: income and assets
Part 3 : Building assets(i)
Part 4 : Assets(i) planning
Part 5 : Further exploration on the principle
1. The principle in a nutshell
2. Definition of assets(i)
3. Classes of assets(i)