What is the best investment to make right now?
Spoiler alert it's not bitcoin, an ETF, or real estate. When we hear about investing, we tend to default to thinking about increasing the value of our money by investing in assets such as stocks and cryptocurrency.
Unfortunately, we often overlook the most valuable thing we possess: ourselves.
We’re here to remind you that learning to invest in yourself may be the best investment you'll ever make. In many cases, it generates not only future rewards but also an immediate payoff.
Here are a few ways you can start investing in yourself and your legacy:
Prioritize your mental health
Mastering your mental health is 100% going to be something you need to invest in.
"Recognizing the early signs and symptoms of burnout is critical to managing your mental health and your well-being, says Kristin Winchester, founder of Her Therapy Space.
"Especially during these crazy times that we're living in."
Once you take control of your mental health and master your mindset, you will feel less anxious, more optimistic, and more sure of yourself. You will pursue your personal and professional goals without fear or self-doubt and maintain thriving, healthy relationships.
"Since mental illnesses and emotions aren't as apparent as a broken arm, it's easy to ignore them–but ignoring them can be just as painful," says Winchester.
Do whatever you need to do for your mental health, and don't leave out your finances.
Personal development
Enrolling in continuing education or training to broaden your skill set, enhance your knowledge base and experience, or create a specialty can help you have a more fulfilling and successful career. Investing in skills and training can lead to more opportunities, as well as increased earning potential.
School is not the only option. There's also Youtube University. Don't be afraid to teach yourself new skills on the internet.
Last but not least, we will add networking here.
"As busy women, we have every excuse not to invest in our non-familial relationships," tweeted Rachel Rodgers, author of We Should All Be Millionaires and keynote speaker at the Beyond Money Summit.
"However, if you want to have meaningful relationships to call on in both good times and bad, you are going to have to reconnect and recommit to building those relationships."
Set boundaries
Do you find yourself saying "yes" to projects that don't interest, benefit or pay you? It would help if you started saying no more.
"Saying no can be a very hard lesson to learn, especially when you come from cultures and environments that demand you put your needs last," says Lianne Hannaway, founder of Wealthnuvo.
"Ultimately, learning AND applying this lesson opens doors to options that align with your gifts and potential."
Establishing healthy boundaries is one of the most liberating things you can do.
Learn about financial literacy and wellness
It wouldn't be right not to mention how important it is to invest in your financial literacy and health. The more you know, the better.
Learning everything you can about money is the best way to get "good" at money!
As you can see, investing goes beyond TFSAs and RRSPs. Investing in yourself means looking at yourself and determining that you are worth your time, money, and effort.
How will you invest in yourself today?
