Stocks and bonds are not going to make me rich. What is going to make me rich is my ability to earn money.
To increase my earning ability, I invest in myself. I make investments in my education, my health, my support team, and my network. The more I invest in these categories, the greater my earning ability becomes.
To get more specific, here are 8 different investments I have made in myself.
# 1 – Diet
Mrs. Gen Y Wealth and I spend above the national average for a family of 4 on food (I wrote a longer article a while back titled, How Much You Should Spend of Food?). The investment in healthy food improves my productivity, saves on health care costs, and allows me to support my beliefs.
# 2 – Health
The gym I belong to costs over $100 a month. I know a lot of frugal people out there think I’m crazy. However, I see this as a steal compared to working out at home. First, I miss the chance to network, when I work out alone. Second, I get to train personally with top Yoga teachers.
# 3 – Communication
As you saw in last Friday’s post, I recently joined Toastmasters International. The fee to join is only around $50 a year.
Th purpose of my investment in Toastmasters is to improve my communication skills. Just a 10% improvement in my communication skills, can mean a 50% to 100% improvement in income.
# 4 – Writing Coach
I’m currently searching for a writing coach. (If you know of any, let me know) I must have slept through Elementary School because my grammar is awful.
My budget for a writing coach is $2,000 for 2011. My hope (and probably yours to) is to find someone who can sit down with me once a week for 60 minutes to work on my writing.
# 5 – My DIY MBA
I recently created my own MBA program. The goal was to give myself a world class education in business.
The course I designed is two years long. The costs associated with creating my own MBA are around $1,000 a year. A lot cheaper and more efficient than paying $30,000 a year to attend a MBA programs.
# 6 – The Empire Builder Kit
The Empire Builder Kit, which I paid $250 for, was the largest one time investment I ever made in my education. Although I didn’t know it at the time, this course was more valuable than I could have ever imagined.
It wasn’t just the information that was valuable. I was able to get to know the author and other members of the course. Also, I was able to join the affiliate program. To this day, it has accounted for over 80% of the income from this site.
# 7 – Conferences
In 2011, I will be attending South by Southwest one of the largest conferences for the technology industry. The cost is $600.
This is my first conference, so I’m not sure what to expect. My goal is to build relationships with people I have met online. One or two key relationships can easily be worth the admission fee.
# 8 – Time
If time equals money, than time can replace money when it comes to investing.
Some things I do, don’t necessarily cost a thing but I still consider them an investment in myself.
For example, for ten minutes a day I try to just sit, relax, and breathe deeply. This activity costs ten minutes of time, but gives me energy to last throughout the afternoon.
Another example is journaling. I get a lot of benefit from opening up a blank text file and letting words flow.
Comments – Investing in Yourself
What specific investment have you made in yourself? What has given you the highest return?
Photo by: Epicharmus