No matter what the economy looks like there are always investments that will yield you great returns.
Wayne Dyer, a famous personal development guru, says, “When you change the way you look at things, the things you look at change.”
I want to share with you my thoughts on how this concept applies to investing. An investment is not just financial; it’s anything to which you devote the precious resources you have.
The two major resources we have to invest are our time and our money.
We typically invest time and money into areas with the hope of gaining something beneficial in return. These returns include things that are tangible, like money and real estate. But they also include intangible things that we value most in life: love, friendship, the feeling of helping others, and experience that will help us later in our careers.
If you were to begin to look at every action you took as an investment in yourself, then what would you discover? If you changed the way you looked at how you spent your resources, then how would the way you invest these resources change?
Here are some areas where we spend our resources. What returns are you getting from:
The time you spend working?
The money you spend on food?
The time you spend with friends and family?
The time you spend in the gym?
The time you spend watching TV or reading?
The time you spend driving?
The money you spend on monthly bills?
The money you spend on recreational activities?
Of course, you expect a return on the time and money you invest in these areas. If you did not expect some sort of return, then you would not invest your valuable resources.
So, when you look at your own life, are you getting a substantial return on your investments?
To answer that question, we must first decide how we measure a return. In the financial world, opinions vary on how to measure returns and on what qualifies as a “good” return. The same holds true for investments outside the financial market. Just like in the financial market, how you evaluate the return you received depends on what you value.
Some of the common returns that people value and expect from investing their time and money are:
Money, Relaxation, Security, Stability, Fun, Personal Growth, Freedom, Self-confidence, Daily structure, Risk.
The investment goals that people have may vary from person to person. However, no matter how much these goals vary, one ultimate goal should remain constant: we should invest in order to become the best versions of ourselves.
There is no right way in financial investing to get the greatest returns consistently. If there were, everyone would do it. However, I would argue that there is one right way to get the greatest returns on our non-financial investments. In other words, there is one right way to become the best version of yourself.
The answer is the tagline to my company. The answer is to “Always Be Learning. Always Be Growing.” Beneficial returns will follow if you invest your time and money in areas that allow you to learn and grow. These returns will energize you and you will be able to reinvest those returns to create even greater returns.
If there is any area of your life that you do not feel at your best, the answer can usually be found in these questions:
What new things are you learning?
Are you growing and being challenged?
If you are not learning or growing, you are usually not getting the greatest return on your investment. Take a few weeks to observe how you are spending your resources and evaluate the returns you are getting. If you are unsatisfied with the returns, then make changes. A simple question you can start with is, “is this the best use of my time and/or money?”
Taking time to evaluate your returns illustrates the broader point I’m trying to make: if you take the time to invest in yourself and learn and grow, you will always be on the path to becoming the best version of yourself. No matter what the economy is like, this philosophy will continue to provide great returns in your life.
In my next newsletter I will explore some ways that you can increase the returns on the investments you make.
