One of the questions that I get asked the most, is what a person should invest in. So I decided to share my knowledge on what your first investment should be. This post isn't your typical investment post so get ready Joe's and Joette's.
If you are reading this post that means you have a couple of dollars and want to know where to put them. You want to plant some investment seeds and just need some direction. So do you invest in stocks, bonds, crypto currency, real estate or commodities like gold and oil? In my honest opinion the best place to invest your first couple of dollars is in yourself. Hold up, don't go out and buy a new phone, car or gaming system. When I say invest in yourself I am not talking about buying things for entertainment purposes. I know that some of these items can be used to help you but still don't buy them. Invest in yourself by educating yourself. We all know a mind is a terrible thing to waste so why not put some money into it. Don't worry college isn't the only way to invest in yourself as you will soon learn.
I know that many of you clicked on this post because you want to make some money. You want your money to make you money and investing in yourself is the best way to accomplish this. It's okay if you don't follow my advice because I tried to invest my money without investing in myself first. Do you know what happened when I did that, I lost money. Which is why I started to invest in myself. There are many different ways to invest in yourself but the main one I recommend is through the use of books. What type of books can you use to invest in yourself? It depends on what your goal is. If your goal is to become an investor then you have to first learn the rules of money. Not all of us have a financial advisor or fiduciary to teach us the rules of money which is why books are important. I personally was unable to book a meeting with a fiduciary because of my low networth. So I did the next best thing, I read books on money. I was able to grasp the basics of money and how to manage it and grow it.
Some readers may not want to become an investor and they just want to start their own business. That's fine because this topic applies to them as well. Most of the profits you make in the beginning phases of a business are reinvested into the business. So how do you reinvest that money into the business? You could run out and get a bigger nicer office space or you could do what I did. I used the profits of my business to get myself a mentor. Nope I didn't use the money to hire someone to teach me how to run my business, I bought books with that money. I didn't buy normal books I bought biographies of famous entrepreneurs and business books. Through these books I was able to learn from the greats such as Sam Walton, Steve Jobs, Mark Cuban and Gary Vaynerchuck. Through these books I was able to learn how they built their businesses from the ground up. If biographies aren't your thing then you can read business building books. There are books like Crushing it which show how to use different online platforms to scale and grow your business.
What if you don't want to start your own business or become an investor? What if you just want to better yourself? Don't worry you can invest in yourself through the use of books here too. That's what the self help genre is used for. These books cover a wide range of topic from spirituality to changing your state of being. You might think that self help books are a waste of money, but they can actually help. Steve Harvey's book Act like a Success, Think like a Success; talks about finding your one gift. Sounds like nonsense but that book was one of the reasons I started this site. It's good to invest in your well-being and self help books are good for that. These books even teach how to deal with stress, I even learned the benefits of meditation through books.
Josh, you've only been talking about investing in yourself through the use of books. Are there other ways to invest in yourself? Another way to invest in yourself is through courses. When I say courses I'm not only talking about college courses. You can attend a seminar or even pay for an online course. I invested in an online teaching course years back. Courses are perfect especially if you want to learn a new skill. That’s why people pay for things like cooking classes. If you can't afford a course, you can invest in yourself through YouTube. I use YouTube all the time as an investment in myself, I used it when I was formatting my book. You can learn from free course and services such as meetups.
If you don't invest in yourself who will? That's the point I was trying to get across in today’s post. As you've read throughout this post, books are very crucial in personal development. How can we expect to grow if we don't fertilize our brains with knowledge.