Great topic guys! ✨
Indeed, finding a balance between the two is the best option as they both come with different risk exposure. When owning a physical asset one needs to consider continuous investment in maintaining them and paying insurance as some of them deteriorate over time. And the transfer of physical assets can be frustrating due to many regulations and having to register the new owner.
One even gets charged a lot of money just to transfer a property to their name and registration fees too if they are to buy from someone. Also, there is a tax to pay when selling the property and your kids will also pay inheritance tax when they inherit some of your physical assets or money. That alone just makes one not have maximum ownership of their money.
Meanwhile, digital assets are easy to transfer and one does not need a middle man for that. At least for now, we do not have regulations that take a portion of what we own. But that also makes it hard to insure them for theft or loss. And what you guys mentioned is indeed a great benefit - not having the risk of losing your assets from natural disasters. Although this also means trusting the sustainability of a platform one invests in and the high risk of not being able to recover your assets be it due to a scam or losing access to them forever. So indeed balance is key!
You have actually spoken a lot about the too many gatekeeping that comes with physical assets. We didn't even meander towards looking at it from this angle. However, a lot of people trust what they can see and touch and some of them do not even mind passing through all the gatekeeping and tax paying.
Sometimes it is their level of exposure and the lack of idea of comfort that they might enjoy by having or choosing to own digital assets.
However for people like us here on the blockchain, we already understand physical and digital assets, and we already know that creating a balance is what matters the most.
Being on a place like hive brings a lot of exposure.
Thanks for the comment always.
Admittedly, I was a bit biased there highlighting too many gatekeeping that comes with physical assets😀. Unfortunately, that is the exposure I have so far that physical assets need one to be wealthy to maximize their benefits. And it is not that easy to start investing in them from nothing.
Exactly! Balance is key.
Well you were biased for a reason and it was a good bias hahaha. I think one's exposure or knowledge of sophisticated technology can create this mindset and we begin to think differently, away from normal abstracts. That's why the digital space can do to one. Over time, people will come to understand, but the people who are already exposed from now will be the biggest gainers in the future
I am patiently waiting for that moment!🙃
Reminds me of when my ex-boss had to sell his house, it ended up being a loss with agent fees and all other stuff that accompanied it, I was so angry back then when he told me about it.
Diversifying into both asset classes should be a wiser way of investing instead of going completely in on digital or physical.
Thanks for watching Humbe.
That's a terrible experience and to even think property is considered an appreciating asset.
True, Diversifying into both assets is key!