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Investing in Yourself Is Totally Worth the Cost When It Comes to These 7 Things...

Published: 29th March 2019 21:03

Every action we take, no matter how small, has consequences.

With the limited time in the day, choosing to spend time on social media means having less time to spend on important tasks. Choosing to attend one event over another entails a potential opportunity cost. Taking the time to cultivate new relationships may come at the expense of old ones.

Simply, every action has an associated cost, either in terms of time, energy, or money. And the culture in which we live tends to put emphasis on economic concerns over everything. It can often feel like investing in yourself is discouraged when you could be using those resources elsewhere.

But that takes a narrow view on which investments are valuable and why. While the costs can sometimes seem steep, self-investment is as important or more important than any other endeavor.

The Importance of Investing in Yourself

With the supremacy of the "live for the grind" mentality, it often seems like the only thing that is sufficiently valued is progressing professionally.

Hard work is important and should be encouraged, but it is fallacious to see it as the be-all-end-all. Striking a balance between work, self-improvement, and self-care is critical to your success and wellbeing.

To that end, here are seven items that are worth the investment in time, energy, and money.

1. Continuing to Learn Throughout Your Life

Education should not end on graduation day. In fact, and education should never really end at all. Both personally and professionally, increasing your knowledge is one area where you can always expect to see a positive return on investment.

It is not a coincidence that one thing many of the most successful people in the world have in common is that they read extensively. Reading lets you learn new things, takes you to places you have never been, and helps you come up with an idea that you otherwise may not have. It is precisely the thing to do when, as most of us will, you find yourself in a career slump.

Beyond just reading, it is well worth the time and expense to learn from the expertise of others.

No matter what your field is, it is exceedingly unlikely for any one individual to know everything there is to know about it. It is therefore valuable to seek out seminars, workshops, and other environments where you can learn from your peers.

2. Become the Master of Your Money

The financial problem is easily one of the biggest quality-of-life issues that many of us will face in our lifetimes.

Even a well-laid financial plan can be waylayed by unanticipated expenses like car accidents, medical emergencies, or other unforeseen incidents. And once you fall behind on your routine expenses, it often gets progressively harder to dig yourself out of that hole.

That is why it is critical to get back in control of your finances as quickly as possible. Though you should generally be wary of taking on debt, it is sometimes necessary to get your life back on track. Even if your credit is not exemplary, certain bad credit loans can give you much-needed breathing room in an emergency.

Most people just need a little bit to keep themselves afloat to cover unplanned expenses or wait for an insurance disbursement to go through. That is the intended purpose for these sorts of loans: to prevent a manageable emergency from spiraling into a big one.

Though you should always be wary of taking on debt, in cases like these, it can be a wise investment in that it helps you to keep control of a negative situation.

3. Invest in Your Health and Well-Being

With the pressures of work, family, and social life, care for your health can be relegated to the backburner. However, neglecting your body can prove to be a costly error.

It can feel hard to find the time to eat well, sleep well, and exercise, but doing so pays dividends. Research supports a correlation between good health and success. The data suggest that individuals who commit to regular exercise are more confident, better able to focus, and more likely to follow through on promises and goals.

Researchers also spoke to 1,300 individuals who earn more than $100,000 a year and asked them what helped them to stay focused. Of those interviewed, 75% said that physical fitness was a significant component of their drive to succeed.

And don't forget that exercise is only half of it. Watching what you eat is equally integral to maintaining a healthy mind and body.

"Health is wealth" as the old saying goes. And the numbers seem to agree.

4. Insure Yourself

No matter how comprehensibly you try to plan for every contingency, life is just impossible to predict sometimes. So you need protection for when the best-laid plans go awry.

A comprehensive health plan, auto insurance, and homeowner's/renter's insurance are all necessities. And if you have dependents, you'll want to add life insurance to that list as well.

5. Invest in Downtime

Burnout is real, and it's becoming a bigger problem all the time. And because of the workloads that high-achievers place upon themselves, you're only more likely to experience it the more ambitious you are.

For that reason, and no matter how hard it can be, you absolutely need to invest in personal time away from your responsibilities. Consider compiling a bucket list of non-career based items, and set a goal of checking off one or two each year.

Hard work is admirable, but there is more to the world. Life moves pretty fast. If you don't stop and look around once in a while, you might miss it.

6. Invest in a Financial Coach

In situations outside of your expertise, it is wise and prudent to defer to an expert. So unless you work in finance and investment yourself, it is advisable to invest in a professional to help guide your investment plans.

Whether you're self-employed, running a small business, or just need a little guidance, a financial planner can be a huge asset, helping you to keep your head above water and successfully build your wealth.

7. Invest in Your Future

All too often people put off planning for retirement until it's right around the corner. No matter your means, you should start planning now to ensure you can enjoy the quality of life you had hoped for in your retirement years.

While some people would probably be happy working for the rest of their lives, most of us do hope to call it quits for good someday. And the longer you wait to start preparing for that day, the longer you have to wait for it to come.

Life is a Balancing Act

People with high ambitions run the risk of developing tunnel vision. They only see their goals and are loath to invest in anything else.

But if you fail to start investing in yourself, you may learn too late that you're only doing yourself a disservice. It takes a balance of commitment to career, to learning, to planning, and to self-care to live as your best self.

To learn more about investing wisely and living well, check out our article on the common pitfalls of personal money management.

 

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