Vegan Burgers, Sweet Potato Fries, & Investment Ideas
After a meal of vegan burgers with sweet potato fries. My friend asked me, “Marc, what do you think is the best investment a person can make?” I pondered the question for a few seconds as my mind raced.
I could tell him to invest in index funds like the S&P 500. Index funds are usually safe and offer average returns between 7% to 10% yearly. “That’s not it,” I thought.
Then, my mind said, “Tell him to invest his money in blue chip stocks!” Blue chips are companies with a long history of success like Coca-Cola, Apple, Google, Amazon, and Nike. Although the returns aren’t huge they’re consistent and over a long period of time, your investment is almost guaranteed to grow. But, once again I realized, “That’s not it.”
“I got it,” my mind proclaimed. I could tell him to put his hard earned after-tax money into a Roth IRA instead of a pre-tax 401K run by his employer with no set match. “This was it,” I thought. But it wasn’t.
Instead, we ended our lunch meeting and I told him I’d get back to him.
The Best Investment Vehicle
Now, I’ve been thinking about this for the past few days. I was even going to call him and tell him to put his money into real estate. A rental property or even a house flip can, at times, offer as much as a 35% return on investment with the right deal.
You won’t find many stocks that can offer you that kind of return. But, for some reason, I felt that wasn’t it either.
Then it hit me! I picked up my iPhone, called my friend and said, “The Greatest Investment You’ll Ever Make is in Yourself!” This was it!
Stop Saving To Live a Good Life at 65
We’ve constantly been told by successful financial guru’s such as Suze Orman and Dave Ramsey to save, save, save then invest, invest, invest. “Live below your means,” they say, “You’ll reap the benefits and thank me when you’re 65,” they’ll proclaim.
We’ve fallen in love with this process. Why? Because we’ve also fallen for the trick that we must work the entirety of our lives, live small so one day we can be old, retire, and live big.
Well, I don’t know about you but I want to live big now! I don’t want to wait until I’m 65 to start enjoying my life. So, where am I going with this?
Develop Your Skills & Expertise
What is the only reason you should live below your means, put yourself on a budget, and pay down your debts? So you’re able to spend freely to develop valuable skills.
That’s it, my friend. When you become more valuable in your field of expertise you will earn more. An investment in yourself now is an investment in your dreams and future.
“Today I will do what others won’t so tomorrow I can do what others can’t.” -Jerry Rice
Why put that money away for the next 40 years when you could use it to attain mastery in your field within the next 10 to 20 years? With mastery comes more success, notoriety, income, and more life.
And, shouldn’t the goal be to live more and not less? Which do you think leads to a happier life?
I’ll tell you right now, the guy eating tuna out of a can to save a few pennies to invest in blue chip stocks isn’t happy. But the guy who took courses on software development and coding, then put together his dream business and sold it for millions, if not billions, is smiling a bit more often.
Invest In Yourself & Live Your Dreams
Don’t waste another minute before taking advantage of this advice. If you have $500 in the bank, the best place to put it is in a course or program for the benefit of your development. Continued development makes you more valuable in the eyes of an employer or when constructing your own business.
Remember this, people who are masters in their fields get paid like it. Live the life you’ve always imagined for yourself. I promise it’s the best way to make a living.
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