The Best Investment You Can Make
I’m looking at a few of my investment accounts this morning and one of the things I’ve invested in this year is cryptocurrency. As of this recording, Bitcoin is over $17,000. But, what I want to talk with you about today has nothing to do with the financial markets. The only reason I bring that up is because I’m amazed at how often people are willing to speculate in something as volatile as Bitcoin and, yet, when you ask them how they’re investing in themselves, all you hear is crickets.
Now, I don’t know where Bitcoin and other cryptocurrencies are going to be in the next 12 months and longer. Depending on when you’re listening to this, it could have skyrocketed even higher or completely crashed and burned. But, what I do know is that finding a way to invest in yourself this year will always prove to be a good investment.
So, today, I thought I’d cover six ways you can and should invest in yourself. Again, this is not going to have anything to do with any financial markets. I am a financial advisor by trade but I don’t want to talk about that. I want to talk with you about the best asset you’ll ever have – yourself. And, if that’s truly the case, you’re going to want to invest more heavily in yourself than you have in the past.
This year alone (2017), I will have invested roughly $30,000 in myself. Some of you may think that’s low and some of you will think that’s high. Either way, it’s all relative. The more you can invest in yourself the better. In fact, I recommend earmarking funds from your paycheck each month to invest in yourself – at least 10%.
So let’s talk about 6 ways to invest in yourself.
Now, if you’ve been following me for any amount of time, you know that I’ve spoken quite a bit against formal education. I want you to know that I’m not against the formal education itself. I’m against wasting money on an education you don’t need. So, if you’re going to school and spending tens if not hundreds of thousands of dollars on a degree that isn’t moving the needle in your life, do not invest in a college education. It’s ridiculous and an incredible waste of time and money. Get out into the real world and work and/or invest in the other 5 areas I’m going to talk with you about. Or, consider a trade school that will teach you skills that are applicable to an actually working environment.
If you’re career track requires an education, by all means, go out and get your degree. But, do it quickly and live in poverty for a few years until you get out into the work force and get an income.
Again, I’m not against formal education for the right person. I just want you to call into question whether you actually need it or you’re doing it because someone told you that’s what you should do.
Next, invest in books. Books are an extremely inexpensive investment and an ability to tap into the greatest minds the world has ever known. I have tens of thousands of dollars worth of books on my shelf.
I don’t care if they’re physical, digital, or audio. Just invest in what other people have to share. The only way to change the output of your life is to change the input. The best way to do that is to gain access to what other people are thinking and doing and read their documentation on it – which is their written words.
A couple weeks ago, I did a Friday Field Notes where I gave you 5 recommendations for books to read in 2018. You can head to www.orderofman.com/books2018 to get the recommendations.
Third, courses. There is a course on everything that you could ever want to learn. Sure, you could tinker and learn on your own and save a few bucks but what most people don’t consider is the lost opportunity cost of their time to learn all that new information.
There are sites like www.greatcourses.com where they house courses on everything and anything. Or, you can get very specific with an isolated course on how to shoot a bow, pick locks, create spreadsheets, fix your car, speedread, and every other thing you may want to lean about.
Just a word of caution though. Make sure you are taking from credible sources. You’re not going to take a fitness course from someone who’s fat. You’re not going to take a finance course from someone who is broke. Use discretion.
Next, events. The more we move into a digital world, the more important physical events are going to be. This one is relatively new to me as I considered events a waste of time. But what I’ve realized is there are some great learning opportunities at events and, even more powerful, are the connections I’ve made with other people who are willing and able to invest in themselves. And, that’s where the real return is.
Go to industry conferences, events that are going to physically and mentally challenge you like Spartan Races or our 3 ½ day Uprising Experience, geek out a ComicCon, or FinCon, I probably went to 10 events in 2017 and I plan on doing more in 2018.
Also, I’ll do a future podcast on how to make the most out of these events and I’m going to create a list of events I’m going to be attending in 2018 so I can see you there.
Fourth is products. There are products out there that will enhance your ability to be more effective. I see a lot of guys who will try to get by with the cheap stuff or look for free alternatives to the real deal.
When I talk about products, I’m talking about my computer, my podcast microphone, my editing software, even my clothes. All of these things, when done correctly, enhance the quality of what I’m putting out into the world.
If you can get by with free here, by all means, do that. But, I personally am willing to pay a little more for quality because I know it makes things easier and more effective for me.
Don’t be cheap on this stuff. Invest in your products wisely. It will make a world of difference.
And, the last category I want to talk with you about today is masterminds. Masterminds and communities are a great way to tap into the power of other people and expose yourself to new opportunities and information. Most masterminds offer a level of accountability too which is a powerful strategy to keep yourself on track. I currently invest in three masterminds and there is no doubt in my mind that I wouldn’t be where I am today without the help of my fellow men and women inside these powerful groups of people.
Masterminds come in all shapes and sizes so you’ll have to experiment to see what works for you. I would consider starting with the people you might already be following or reaching out to successful friends and see if they’re involved in a mastermind you can take part in.
With that said guys, I want to share a couple of resources we have available. Let me say this first. Obviously, I believe in what we’ve put together and I think the programs and options we have available will serve you greatly. But whether you invest in yourself through what we have to offer or something else, or a combination of both, I’m more concerned that you invest in something whatever that something is.
First, we’ve got an event coming up in about a month (January 26th and 27th in Nashville). This is an opportunity to rub shoulders exclusively with other men who are on a very similar path as you. We have four breakout sessions, team building and leadership exercises, physical activities, and an opportunity to connect with me and other powerful men. I know you’re going to walk away with a ton of value and alter the way you look at your life heading into the new year. You can get registered at www.orderofman.com/nashville.
Second, we’ve got our exclusive brotherhood, The Iron Council. Technically, not a mastermind because of the size but what a powerful way to tap into 300 other powerful men on your time. We issue weekly challenges, monthly assignments, team meetings with 14 other men, an additional weekly call, and a Slack channel that allows you to customize your experience, information, and conversations you have access to. You can connect with us and lock in your spot at www.orderofman.com/ironcouncil.
Again, I’d love to see you in both places but, if you’ve found another resource more suited to what you’re looking for, great do that. I just want you to get in the habit of investing a lot of money in yourself. It’s the best bet and a sure bet every time.