How to Take Care of Your Personal Intangible Assets
What cannot be held, touched, or felt but is priceless in value?
This question is great to bring up at family gatherings or friendly get-togethers. Odds are you will get a plethora of responses. Many will be reasonable while others will be completely outrageous.
The answers, if they meet the definition provided above, would describe intangible assets. Everyone’s list of their intangible assets will be different but would probably include such examples as:
- Family relationships
A common denominator between your intangible assets is you are ultimately responsible for taking care of them and no one else. And with this comes a big responsibility.
So how does someone take care of their personal assets?
The answers will be as varied as the intangible assets themselves. However, it may help if we consider an exercise by famed investor Warren Buffet proposed in a recent interview.
Image if Warren gave you a car absolutely free of charge. The car could be any one you desired. You could choose a Ford or Ferrari. A Buick or Bentley. Any car imaginable.
But there is one catch… this car will be the only one you will ever own for your entire life.
Knowing this, how would you take care of the car?
Most likely you take extremely good care of the car to ensure it runs in tip-top shape and for as long as it can.
You only have one mind and body. Treating them as the only ones you will ever have, just like the car, would be to keep both operating at the highest levels possible. This means keeping your skills sharp, increasing your knowledge, and maintaining a well-balanced life of fitness and health. Friends and family too need special care to ensure they grow and blossom into beautiful facets of your life.
We so easily forget we are here but for a fleeting moment of time. So, take care of your intangible assets, because they are indeed the only ones you’ll ever have!
- Smart Home Technology: How it Affects Your Property Insurance
- 3 Common Sense Things People Should Know
- Unraveling the Mystery of the Extra Day
- Financial Fitness in 2024: Budgeting and Saving Tips
- New Year's Resolutions: Staying Committed Year Round
- The Magic of Christmas Traditions
- How to be a Time Management Whiz During this Busy Season
- Mastering the Mind: Techniques for Better Memory and Cognitive Function
- The Art of Productive Procrastination: How to Make the Most of Downtime
- How to enjoy and celebrate chilly, gloomy days
- Best Dog Breeds that Suit Your Needs
- DIY Delights: Creative Projects for Seniors
- Coping with Seasonal Affective Disorder (SAD)
- How to Trim Down Hidden Costs of Flying
- How to Experience Positive Aging (8 Tips)
- How much should you actually have in savings?
- How to Build Sustainable Wealth
- Enhancing Resilience as We Age
- Tips to Consider when Selecting a Contractor
- The best herbs to grow for beginners
- Is celebrating your 100th birthday no longer a dream?
- Summer Workouts for Your Dose of Vitamin D
- Music and Your Wellbeing
- How to Dispose of Unused Medications
- Aging and Our Body’s Ability to Heal Itself
- What is Credit Health Insurance? (Copy1)
- What is Credit Health Insurance? (Copy)
- Waking Up to the Impact of Insomnia
- What experts say about raising the retirement age
- Sharing the Road with Cyclists
- Does Uber Insurance Cover Passengers?
- Living Your Best Life After 60
- Self-Love Ideas for Valentine’s Day
- Life Without Clutter
- Winter Hydration – Do I Need It?
- Why Do I Keep Breaking My New Year's Resolutions?
- Closing Out the Year with a Smile!
- How to Enjoy a Long Layover
- How Social Security Cost-of-Living Adjustments Affect Your Taxes
- 10 Tips for Managing Cholesterol Levels
- 3 Top Tips for Better Posture
- Fun Part-Time Jobs for Retirees
- Living Outside Your Comfort Zone in Retirement
- 16 Tips for Keeping Your Home Secure While You’re Away
- Should You Insure Your Gifts?
- The Most Important Fall Home Maintenance Tasks
- 7 Benefits of Slow Travel
- How to Retire Early
- 7 Tips to Weather Challenging Periods in Your Life
- Financial Planning After Saying “I Do!” - 3 Crucial Steps
- 4 of the Best Ways to Stay Healthy this Summer
- 3 Tips for Safer Grilling
- Tips to Avoid Stress Eating
- Signs Your Identity Has Been Stolen (and what to do about it)
- Know the Benefits of Walking
- Ways You Can Spend Less on Gas
- 4 Tips for a Less Stressful Summer
- What are the Safest States From Natural Disasters?
- How to Protect Your Home from Wildfires
- 7 Myths About Your Back Pain
- Don’t Throw Away Those Used Coffee Grounds
- Are Personal Items Covered by My Auto Insurance Policy?
- How to Spot Government Imposters
- Happiness Through Healthy Food
- 5 Creative Spring Décor Ideas
- 10 Ways to Maintain Healthy Joints
- How to Take Care of Your Personal Intangible Assets
- Dream All-Inclusive Trips to Escape the Cold
- Safety Tips for Driving in Winter
- Is Working from Home Covered by Homeowners Insurance?
- Giving and Forgiving
- Things We Are Grateful for This Year
- Maintenance Checklist for the Year-End
- How to Host a Successful Virtual Holiday Party
- Ben Franklin: Father of Modern Insurance
- Who Invented Insurance Anyway?
- Stacked vs Non-Stacked Uninsured Motorist Coverage
- The Art of Aging Well
- Insure What? Celebrity Body Parts Insured
- Using HSAs In Your Retirement Planning
- 6 Strange Insurance Policies You Can Buy
- Mistakes You can Make When Exercising at Home
- Forget Salad Recipes, Try a Salad “Matrix”
- Mortgages Dissected: Details to Know
- 5 Most Common Estate Planning Mistakes
- Bucket List Ideas and Why It’s Important
- Insurance Coverage All Small Business Owners Must Consider
- Don’t Lose Non-Refundable Down Payments with Travel Insurance
- 8 Gas Savings Tips During Summer
- Keeping Your Landscaping Lush Under the Hot Summer Sun
- Safety Tips for Outdoor Barbecues
- Should You Pay Off Debt or Save For Retirement?
- The Last Guide to Chair Yoga You’ll Ever Need
- Smart Things to Consider When Buying a House
- Tips for Making Dinnertime Special
- Understanding Hurricane Deductibles
- Why Gardening is Good for Your Health
- Back to Work: How Businesses Are Trying to Make Workers Feel Safe
- Reducing Stress Through Music
- How to Live Without Regrets
- Benefits of Grateful Living