Asset progression is a term used to describe a strategy of gradually upgrading one’s assets over time in order to increase wealth and improve one’s financial situation. This strategy involves starting with a smaller or more affordable asset, or a starter home, and then gradually upgrading to larger or more valuable assets as one’s income and financial situation improve.
The idea behind asset progression is to make strategic investments in assets that appreciate in value over time, such as real estate, stocks, or other investment vehicles. By continually upgrading one’s assets, individuals can build wealth over time and create a more stable financial foundation for themselves and their families.
For example, a single or couple already owned their first home. As their income increases and they build up equity in the property, they can sell the property and use the proceeds to purchase a larger home, investment property or even multiple properties. Over time, this process can be repeated, with individuals gradually upgrading to larger and more valuable assets as their financial situation allows.
The key to successful asset progression is to make smart investments that appreciate in value over time. This will involve doing deep research and vast experiences on such planning, as well as being patient and focus when carrying out plan.
Overall, asset progression can be a powerful strategy for building wealth and improving one’s lifestyle and financial situation over time. By continually upgrading one’s assets, individuals can create a more stable and secure financial future for themselves and their families.