Note: This article is based on a blog post by Evan Tarver, in which he discusses the importance of investing in yourself.
If your goal is to earn $100,000, for example, the title might be "Year of Impact," and if your goal is to start a nonprofit organization, the title might be "Year of Altruism."
Your goals for this year and your thoughts must have a specific title. In this way, the title becomes the compass that guides you toward achieving your final yearly goals. My title for last year was simple: the “Year of Routine.” I determined that I needed to be diligent and focused on achieving my desired success. I was never a person who sticks to a strict schedule, and I knew that without premeditated decisions, I wouldn't be as successful as I wanted.
Every time I wanted to sleep, take a day off or not go to the gym, or procrastinate at something, I would say to myself: "No, this is the year of routine." Over the past year, even though it hasn't been perfect, I created a constructive routine within an effective, continuous schedule, which continues to this day.
So I thought: "What will be the title this year? What phrase will make this year a success? With all the projects and the time and money needed, I need to focus on financial and other investments, as I may make money from each project or not". So I needed a good title to help me invest the right resources. If I do not overcome the problem, I will not consider it a failed experiment, which led me to the title of this year: “The Year of Personal Investments.”
No matter how much time and money you invest in a project, passion, or idea, it's only a success if you learn. It is a long experience. So even if you invested $10,000 in establishing a company and this business declined, you should consider the $10,000 as an investment in your education that will pay off in the long run.
Personal investment year
Shouldn't every year be the year of personal investing? Wasn't the year of routine investment in my diligence? And isn't the compound impact year - in the example above - an investment in your future? Our ultimate goal, year after year, should be a goal of personal investment. Any long-term investment pays long-term gains; it doesn't matter what you invest in as long as you're investing in yourself.
Indeed, cash investments make a lot of sense, but there are other ways to invest in yourself. Personal investment is spending scarce resources on the future value of your happiness. Personal investment is allocating scarce resources toward your present and future happiness. It is the most critical investment we can make, as it includes every form of investment, monetary or otherwise.
This way, there is no amount of time or money to waste as long as you are spending it on things you enjoy or things that will increase your future potential. Let's look at another example: "I am writing a fantasy novel, and I will publish it. I have spent countless hours writing this novel and will invest an unknown amount of time and money in marketing and promoting it.
Will it work? And do I even know if it's good? No. Am I wasting my time and money? No, because it is something I want to do. It's part of my vision of my ideal future, and I'm investing in something I love. Could it be a total failure? As long as I enjoy the process and hone my writing skills, the time and money I have invested in the project will make incredible returns. It is my current happiness.
It will also continue to have a positive impact in the future, such as increased skills, knowledge of how to publish books, and better ability to write, not to mention the possibility of real income, which makes the investment successful.
Investing does not mean money
The bottom line is that any investment is good if it increases the value of your time. When you think of it this way, investing in yourself doesn't require thinking. If your earnings are specific love of the moment, it makes sense that suitable investments continually increase the future value of the moment.
We all know what stocks are. Think of stocks in companies like Amazon, Facebook, and Apple. When you invest in a publicly traded company, you buy shares of stock with the belief that they will be worth more tomorrow than they are today.
However, as we know, it can take years for the best companies to generate positive returns. When we invest our money traditionally, we understand that, and we have a time horizon in which we feel comfortable keeping our money as personal property. This is the mindset we need to develop through our investments in ourselves.
What if you had to invest $1,000 and 20 hours in a course to sharpen your public speaking skills? You must assume that the knowledge and practice gained will yield more than a thousand dollars in future income and more than 20 hours of increased happiness. This course can give you the confidence to seek a public speaking opportunity. For example, you can contact a new mentor to help start your next company.
So whenever you need to spend money or time, think: Will this make me happy, or will it bring future returns beyond the initial investment? It doesn't matter if the returns are qualitative or quantitative. If the answer is "yes," invest in yourself. Your happiness is the most important investment you can make.
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