A while ago I wrote a post about the four things I believe we can invest – our time, our money, our effort and our love.
From the feedback I received people tended to agree but they were unclear as to what they could invest in so today I thought I’d take a look at the other side of the coin.
Knowing what to invest is the first part of the puzzle, the second is what to invest in.
I’m a big believer in getting the best bang-for-your-buck.
There’s no point investing the things that are our most valuable assets and not getting much back in return.
We invest expecting a return.
Smart investors know that the odds are stacked against them in trying to time the market, so instead they invest for the long-term.
They know that if they make good investments that, in time, they will pay off.
It’s like the farmer who goes out in the spring to plant, day after day he goes into the field to water the crops and doesn’t see any results, but come fall, assuming he’s done his job correctly and there aren’t any unusual circumstances (ie. flood) that he’ll reap a harvest.
So let’s take a look at the different vehicles we can invest in:
- Health (what good is money if we’re sick feet under)
- Knowledge / Education (there is no limit to how much we can learn)
- Finance (it pays well to understand how things work)
- Relationships (can open doors you can’t)
- Hobbies (we all need a little stress-relief)
- Career (do what you love)
- Contribution (make a difference in others’ lives and see what a difference it makes in yours)
- Stocks / Real estate (create cashflow)
Many of my successful clients have invested in most of these.
The one area that people get confused about is education as there are so many fields to study I’m often asked which area they should focus on.
My answer – the ones that will benefit the life you want to have.
I know that sounds like a cop-out but if you were to back me into a corner and demand a more concrete answer I suppose I would suggest studying the top people in the self-development field.
Each person has their own style so shop around until you find one you like.
But before you get started I recommend investing in a speed-reading course as well as a memory course.
Both will pay off big in the long run.
Languages are another great investment but pose a big challenge for many people.
But as the saying goes, “No pain, no gain.”
I also suggest you reach out to the leaders in your field of interest and ask them advise on what they recommend you study.
You’ll be surprised how willing most people are to give you a few minutes of their time.
So, what are you waiting for? Get started.