The word “investment” can be intimidating for some. It involves money, including a possibility of earning some and a chance at losing it. Many people invest in stocks, others in bonds. You can invest aggressively if you know what you’re doing or you’re young, or you can do so a little more conservatively if you’re more reserved or don’t have time to recover from low returns. But these aren’t the only things you can invest in. Have you considered investing in yourself?
Some of you may be saying “what do you mean? How can I gain interest? What is putting into myself going to do?” Well it all depends on how you invest in yourself. It doesn’t always require money either; you can invest time. So how can you invest in yourself, and why is it a good idea?
- Spend money on a course: Investing in your education is important. Knowledge is power, remember? You can take a class in something you’ve always wanted to learn, just for personal development, or you can take a course to expand your skills. I’ve made an investment in several business courses through Only 72 Hours, which have expanded (and are still expanding) my knowledge in becoming an Internet entrepreneur. This was a $97 investment for courses valued at over $1,000 monetarily but priceless in where it can take me in my career.
- Invest in your health: This is something extremely important, as your health keeps you, well, alive! Some people opt for monthly gym memberships while others shop for organic food for their diet. Money can be put into this, yes, but time is important here. Make time to exercise, make time to eat well, and make time to reduce stress. This investment also yields a priceless return.
- What about your relationships: This affects yourself as well as others. Money can’t buy love, but time sure does. Whether you’re in a romantic relationship or have a family and friends you care for, investing in your relationships is huge. You don’t have to go out to fancy dinners or amusement parks to have a good time. I mentioned before ways of dating your spouse. That’s an investment many people forget to make (and costly to forget as well).
- Don’t forget your retirement: Back to the money. You’ve more than likely heard about 401k plans and IRAs. These are ways to help you save up for retirement. Nobody wants to work forever (except me), but unless you’re Paris Hilton rich, you need a retirement plan. If your job offers a 401k to contribute to, you should really consider it. Whether they do or don’t, it’d be nice to research IRA accounts as well.
There’s plenty of other ways to invest in yourself, but I’d like to know what you think. How do you invest in yourself? Do you have a plan in place?
- How to Keep Retirement Investing Simple (money.usnews.com)
- 4 Reasons Why a Roth IRA May be Better Than Your 401(k) (wisebread.com)
- Reader Mailbag: In Ten Years… (thesimpledollar.com)