4 Ways to Invest In Yourself to Earn More Money
When most people think of investing, they think of the stock market and real estate. While those are historically solid long-term investments, there is another valuable one that people miss — investing in yourself.
When you choose to spend money on yourself, you are investing in your future self. Sometimes, the rewards can be far greater than that of “traditional investing”.
Here are four ways to start investing in yourself to earn more money:
1. Invest in a Coach
What do Michael Jordan, Tiger Woods, and Tom Brady all have in common? Besides being legendary in their sports, they all have coaches! Have you ever thought about how a coach might be able to help you succeed quicker?
No matter what area of life, a coach can help accelerate the process of success. Coaches offer accountability, experience, and can help you see the big picture as they’ve already been where you are currently.
Whether it’s a business coach or personal trainer, find someone who can help you speed up success.
2. Become an Avid Reader
Did you know the average American watches 1,848 hours of TV each year? That is equivalent to 77 full days each year. Have you ever thought about how you could make better use of some of that time?
If you chose to read a book only 25% of the time you would log 462 hours of reading each year!
The average person reads one book per year while the average CEO reads 60 books per year.
Warren Buffett, valued at around 70 billion dollars still reads five hours per day. And Bill Gates averages at least one book per week. Successful and wealthy people are avid readers!
Start by setting a goal of reading one book per month. You don’t have to read 50 or 100 books or cancel your Netflix. Try to replace 20% of your TV viewing habits by reading something that interests you.
3. Attend Seminars and Events
Of all the ways to invest in yourself, attending live seminars will give you some of the best and longest lasting results. Reading books and listening to podcasts are great but they aren’t a fully immersive experience.
Think about it this way — would you learn a new language faster if you took three semesters in college or lived in a country for three months? Of course the latter. The reason is that you are immersed in the environment.
Once you immerse yourself in something fully you learn it faster than any other method. Plus, when you attend a live seminar you will meet like-minded people, listen to something you are passionate about and take notes. All this, combined with the energy of the room, will put you in a peak state and retain more information.
4. Use Your Commute
According to another recent study, the Average American commutes 25 minutes each way to work. If you commute a half hour each every weekday that is 13,000 minutes each year.
What are you doing during that time?
Are you sitting on your phone going through social media, checking emails, or listening to music? Instead of doing these tasks, why not listen to a book on Audible or find a podcast related to your career or passion project?
Replace some of your commute time listening to something that will be thought-provoking and teach you something new.
While we’re not recommending you abandon traditional financial investing altogether, don’t be afraid to spend money on yourself. As Warren Buffett said, “The best investment you can make, is an investment in yourself. The more you learn, the more you’ll earn.”
Do you have questions about achieving your best financial future? Simply request a call from a Bayntree financial advisor today.
Bayntree Wealth Advisors, located in Phoenix and Scottsdale, Arizona, provides comprehensive financial planning and wealth management. The Bayntree team specializes in all aspects of financial health, including retirement planning, risk management, investment advice, tax strategies, estate planning and insurance.
Bayntree does not provide specific legal or tax advice. Please consult with your tax advisor or legal professional for guidance with your individual situation.