Best Investment You Will Ever Make
When it comes to building wealth, financial advisors often focus on investing in index funds, ETFs, 401(k)s, IRAs, real estate, etc. When we look at where to invest, there are so many choices, it can be overwhelming trying to decide which has the potential for the best return and the lowest risk.
But, there’s another strategic investment vehicle that’s often overlooked and underused even though it can deliver far greater results. You can never, ever go wrong with an investment in yourself. Education is an investment in yourself and that investment can pay you more dividends than anything else you will ever invest in.
If you’re not creating the best version of yourself, you’re putting your future at risk and lowering your chances of achieving the results you want. Here are the best ways to invest in yourself.
Learn how to set personal and business goals for yourself. If you’re not taking the time to set goals, it’s like taking a road trip with no destination or map. You will not know where you’re going, and you will waste precious time, energy and resources with little to no results. Be sure to also set some time frames in which to meet them because without time limits it’s not real. Your goals should be SMART goals meaning specific, measurable, attainable, relevant and timely.
Invest in Building Your Self-Confidence
People who know their value, have something to say and others will listen. That entire process starts with making and keeping promises to yourself. That builds self-confidence that others will start to recognize. You can invest in yourself by developing an understanding of the value that you possess and offer others. Learn to have the courage to speak your mind diplomatically and strengthen your negotiating skills. The more you understand the value that you offer, the more confident you will become in sharing it with others.
Work on Your Bucket List
If you don’t have a bucket list, then it’s time to start one. Your bucket list is meant to be a list of everything you want to achieve, do, see, feel and experience in your life. Your list may be ongoing as the life cycle changes, but you can start by writing 100 things down. Then each month or so, make sure you’re knocking out at least, one of the items on your list. This gives you something to look forward to and that you will work towards and reward for the investment that has been made in yourself. It is hard to get things checked off a list if there is no list.
Read Books and Blogs
Whenever you talk to millionaires and entrepreneurs, one of the things they always recommend as a way of attaining success is reading books. Books give you the power to learn new things and bust through personal and professional slumps. In other words, books can take you to places you’ve never been and give you ideas you never thought of. These days there are no excuses not to continuously read. I mean, you can even access and listen to audio books while you drive, work out, or when you’re at home with down time. Start taking some time to read a new book or listen to a new audio book.
Become the CEO of Your Money
Regardless of your income, you have to become the CEO of your money and finances. Take control of your debt, rather than cursing the bills when they are due each month and mindlessly paying the minimums. Taking control requires rethinking, organizing, evaluating, and reducing debt efficiently. Get your spending and saving under control now! Until you are debt free, your money is not truly yours. Eradicating debt is the first step in controlling your finances so nothing controls you. Then you can start stashing away cash that no longer services debt so you can fund your dreams! Those dreams you shelved when you accepted a life of financial chaos can become realities with a little financial planning, budgeting, and self-control.
Your greatest asset is your ability to earn more income and produce more cash flow. When you invest in yourself, you improve the odds of increasing your income as well as cash flow and that could have far bigger effects and impacts than what you could reasonably expect from investing in any particular asset class.