When you think about investing in your future, you probably focus on choosing the best stocks and mutual funds, but what about investing in yourself? Investing in your 401(k) and IRA is a good start, but there may be even better places to invest your time and money.
If you want the best return possible on both your time and your money, self-investment is imperative. It is easy to allow yourself to fall lower on your priority list, but that is to your disadvantage! Investing in yourself carries many important benefits that can last a lifetime.
Here are just some of the great benefits you can gain when you invest in yourself.
Grow your network
Expanding your personal and professional network is a great place to start if you want to enhance your career and build a better future. Having a solid network of professional colleagues can help you get more out of your current job and, when it’s time to move on, those contacts can help you land your next position.
The people you meet in your college classes or educational seminars can become valuable parts of your network – every new contact will be an asset to the future of your career. The networking advantage is a critical element of career development and personal investment.
Expand your perspective
Investing in personal development means you realize things are always changing. By understanding that you’ll never know it all, you accept that learning is an endless journey. Allowing yourself room to improve and grow with the times helps widen your perspective of how to do things effectively. You don’t know what you don’t know, and there is always another unknown around the corner.
The more you can step out of your comfort zone, the better you’ll be prepared to deal with any situation that may come your way. Life is full of stressful obstacles and problems. The more perspectives you can conceive, the better adapted you’ll be to find smart solutions.
Increase your earning power
You may be great at picking stocks and choosing mutual funds, but you still need money to make those investments. If you fail to advance your career, you may never be able to build a sufficient nest egg for retirement.
Whether you invest your tax refund into an online certification course or tap your employer’s tuition reimbursement program to get an advanced degree, these investments could pay off significantly. In the end, your earning power is the most important asset you have, and its value is almost entirely up to you.
Increase your self-confidence
If it’s been a while since you were in a classroom, you may not think you have what it takes to succeed, but think of how good you’ll feel when you rekindle your capacity and enjoyment of learning.
Investing in yourself through formal education, online courses, and work-related seminars can boost your self-confidence, which can help you succeed on the job and in life. Having confidence in yourself and your abilities will certainly enhance your career prospects, especially when combined with your new educational achievements.
Become more self-aware
Understanding your strengths and weaknesses is essential for self-growth. What talent can you use to uplift your faults into assets? Knowing where you’re less capable also allows you to recognize those skillsets in others. To grow any business, as a leader, you must delegate tasks to your employees. This means relying on the strengths of others to balance your shortcomings.
The better you know yourself, the more equipped you are to know where to invest your time and energy. Having confidence in your ability makes you secure enough to use the expertise of others when necessary.
Give your life direction
The more you invest in yourself, the clearer you become in knowing what you want and who you want to be. A sense of purpose plays a significant role in providing happiness and fulfillment in your life. When you lack direction and are aimless, you move like a sheep, following the flow of the world rather than taking charge. Investing in yourself means committing to an objective. This clarity makes it easier to use your time effectively and wisely.
The more time and energy you invest in yourself, the clearer your direction becomes. Meaningless, time-wasting activities you used to pass the time will fall off your radar and be replaced with deliberate actions and goals.
The bottom line
Investing in yourself carries many important benefits that can last a lifetime. Have the discipline to hold your wants and needs to a higher esteem than other’s demands. Focus on what would make you excited and fulfilled. Investing for the future is important, but there is more than one way to invest. Rather than only putting money aside in your 401(k) and IRA, don’t forget to also invest in your health, skills, hobbies, and relationships. Investing in yourself might be the smartest investment decision you ever make. If you’re struggling to make a lasting change in your life, read our article on accountability here.
Which of the self-investment returns are you most excited about? How will you start investing in yourself today? Let us know in the comments below.