What's The Single Best Investment You Can Make?

Our Weekly 2 Minute Read

Edition 53 - July 7, 2019

I've always had an interest in money - figuring out different way money can work and how to commit to the right investments.

At our previous company, I had the pleasure of being mentored by some very great businessmen who are very financially set. We crossed a conversation of investing. I asked, "Since I'm still young in age, what's the best investment I can make right now?"

His answer?

Invest in yourself.

The best investment any young person can make is into himself or herself.

Why?

We've heard of compound interest. Money grows at a point where it's reinvesting in itself to grow more money.

The same thing applies mentally.

A young person needs to build knowledge since they lack experience. By building knowledge, he/she becomes more socially aware and can sharpen his/her decision-making abilities.

In the investment game, the person who makes the least mistakes ultimately wins the game.

Imagine knowing 100% that your investment grow. Would you not be more comfortable pouring more assets into it?

Unfortunately, predicting the future of a potential investment is not possible; however, we can improve our decision-making abilities to get as close as possible.

I bring this up because we've officially crossed the halfway point of the year.

That's right - we're officially closer to the beginning of 2020 than the beginning of 2019. Time flies fast.

The last message of 2018 discussed how each year is like an inch on your measuring tape. That means half an inch has been cut off.

If the year ended today, how would you characterize your year? What have you done this year to improve yourself?

If you're struggling to come up with an answer, I have bad news and good news for you.

Bad news: You're a similar version to yourself as last year.

Good news: You have 6 more months of 2019 to change that.

 

-BK