The Best Investment You Can Make
If you float the question of the best investment you can make, you’re sure to get all kinds of answers – ranging from traditional investments to alternatives to the latest and greatest in tech. The list will be lengthy for sure.
Advocates of one camp of traditional investments will tout stocks, bonds, and conservative fixed income products like annuities, CDs, and money market accounts. Those in the alternative investments camp could advocate any of a number of non-traditional assets like private equity, real estate, hedge funds, collectibles, oil & gas, precious metals, and agriculture. Then there will be those in the new camp promoting the latest and greatest tech-based investments like crypto and NFTs (non-fungible tokens).
The menu of investment choices can be dizzying for any new investor, but if you asked me, I believe the best investment you can make – the one with the highest return on investment (ROI) – is in yourself.
And just like there are multiple ways to invest your money, there are multiple ways you can invest in yourself. What are some of these ways?
Invest In KNOWLEDGE. In this modern connected age, gathering knowledge has never been more convenient, widespread, or available. Seek out books, online forums, blogs, and social media groups. Check out book summaries and review sites like Blinkist for suggestions and insights.
Take advantage of interpersonal opportunities to learn, like local investment groups, masterminds, coaches, and mentors.
Invest In Your HEALTH. Sound physical, mental, emotional, and spiritual health is essential for overall well-being and growth. Institute regular and manageable routines to exercise the four areas of your person. Eating healthy, staying hydrated, and getting enough sleep are vital for maintaining overall health.
There are many guides and plans for exercise and nutrition floating out there. If you’re not currently on one, choose one and try it.
Invest In RELATIONSHIPS. Nurture and strengthen your current relationships and create new connections. Share your experiences and wisdom with others and learn from new contacts.
Get out and meet new people. Join local groups and clubs. Reach out to high-performing groups and friends to soak up advice, experience, and wisdom.
Invest In Your WEALTH. Make a plan for cutting the cord from your day job. Consider launching your own business. Invest for income – the passive kind that can work 24-7 and grow over time. Start paying yourself first to feed your cash-flowing machine.
Learn about ways to keep more of what you make through legal tax elimination, reduction, and deferral strategies.
Invest In Your FUTURE. Set goals, eliminate bad habits, and bad expenses. Sacrifice current wants for future needs. Acquire assets that build wealth as opposed to taking away from it.
Invest In LEVERAGE. Leverage the expertise and skills of others to maximize your own time, resources, and abilities. Think about hiring help if it will advance your goals. Consider a personal assistant, hiring more employees, partnering with skilled managers and experts who will complement your resources and skill set.
Invest In Your FAITH. Without faith, there is no hope. Faith helps center you and gives you a higher purpose. Also, remember that faith without works is dead. Don’t forget to be charitable and kind and take advantage of opportunities to serve your fellow man.
Invest In MARRIAGE. Without a strong foundation at home, everything else is futile. Have you noticed that everything else becomes out of whack when things at home are out of harmony? Treat your spouse like the most important person in the world, and everything else will take care of itself.
Invest In The NEXT GENERATION. The Bible says the next generation is like arrows in your quiver, and you are shooting them ahead of you. Maintain and strengthen your bow to shoot those arrows straight and far. Give the next generations the best chance to go far and reach their goals.
Leave a legacy of knowledge and wealth to give them all the tools for succeeding when you’re gone.
Invest In MISTAKES – Yes, Mistakes. All successful people have failed at one time or another. Failure builds character if you learn from your mistakes. By investing in mistakes, I suggest that you give yourself opportunities to fail and succeed. This can only happen when you take chances. Making mistakes means you are taking chances and that you’re closing in on your goals and future rewards.
As someone with a background in construction, I know the value of a firm and durable foundation. Without it, it doesn’t matter what the rest of the structure looks like. You can add all the expensive or fancy features you like, but a crack in the foundation compromises everything.
he same goes for me as a person and individual. It doesn’t matter what I do in the professional or investment areas of my life. Everything else is compromised without a strong foundation anchored by family, faith, knowledge, and confidence.