The first time I ever read about the best investment we can ever make that would provide us with the highest ROI (return on investment), I was expecting it to be a “How to Get Rich” article.
I was expecting sound principles like taking out 10% of your pay each and every week and paying yourself first no matter what is going on as instructed from The Richest Man in Babylon book. Many people scoff at this principle, thinking it is not possible to pay themselves 10% because then there would not be enough money left to pay the bills. Here is the reality though. If your taxes were automatically raised by 10% tomorrow, you would figure out a way to pay them? Do the same with yourself. Yet I didn’t find this in the article.
I also thought it was going to be an article on the power of compounding interest and the importance of making your money work for you by investing in a diversified portfolio of index funds and bonds as well as asset allocation and avoiding high fee funds such as many mutual funds. Yet I didn’t find this in the article either.
I thought it was also going to espouse the upside of managing the downside, as is accomplished with different types of insurance such as health insurance, life insurance, and disability insurance as well as some of the ways you can use these vehicles for wealth creation. Yet I didn’t find this in the article either.
While none of this was in the article, the one thing I learned from the article that has been more valuable to me than any of these things was the idea of investing money in MYSELF.
I would argue that $20 invested in a personal growth book has a much greater return than $20 invested in the stock market. I would also argue that $20 spent on high quality meat and vegetables is also better than $20 put in any other external financial vehicle. The list could go on and on how you could invest money in yourself. Not only would it include books and nutritious fuel but also audio programs, live seminars, physical fitness, mastermind groups, meals with great people, and travel.
Time and time again I have experienced in my own life that investing in myself has paid back extraordinary dividends not only in my finances but in my level of fulfilment, growth, and contribution to the people around me.
Let me give you a quick example. I was involved in a mastermind group where we would constantly be working on programs to strengthen and grow everything from relationships to meditation to public speaking. One of the programs we engaged in was an online public speaking course. It was $500 for the program. Some people thought I was crazy for paying so much for an online program, however, my return on the investment and my impact on other people’s lives, has been exponential. In honing my speaking skills, it has allowed me to “influence with integrity,” a term I learned from Tony Robbins, at a much higher level. It has allowed me to create extreme value in people’s lives where their lives are transformed. What good is public speaking if we can’t influence people to make positive changes in their lives?
There is no external investment that has provided me with the quality or quantity of return that investing in myself over the years has provided me. Skip the 3 lattes this week and invest in a book. Pull money out of your savings and invest in a program – live or online. Start saving for a trip to experience a different culture. If you need some direction, contact me and I’ll help you out.
When you invest in yourself, you begin to create more abundance in your life – financially, spiritually, socially, and you contribute to society in a much greater way which brings an extraordinary level of fulfillment into your life.
All The Best,
Dr. Matt Westheimer