Growing up in life, the “ideal lifestyle” is often portrayed in various ways. In order to live a “successful life”, we are taught to save money, graduate high school, go to college and get a job. As a child, we take this to heart and immediately become blind and fearful of other possibilities. People develop the mindset that if they aren’t an A Student then they are not going to be as successful as the better performing student.
Success is often defined by the amount of money that one makes. The reality of life is that school does not teach you how to actually make the amount of money that you desire. We all wouldn’t mind making six figures a year but the truth is, there aren’t too many jobs that a school will prepare you for that will make this dream come true. A school struggles in teaching you how to do so because the instructors specialize in a subject that hasn’t benefited them to the same financial extent. You won’t see a teacher making six figures so why would you ask them for advice on making six figures. If you ask a six figure earner how they came to achieve their amount of success, they are going to tell you that they had a mentor who, by definition, is a wise adviser. Wisdom is obtained through experience which separates a teacher from a mentor. For example, you will benefit a lot more by seeking the advice of a politician as opposed to that of a teacher who simply–of course–teaches the subject of politics. They can be seen as a novice in the overall aspect of politics.
Since a mentor, in a way, is just a teacher with a higher level of prestige, they will likely set a price for their knowledge and wisdom, which is what this blog post is about. Identifying safe investments in yourself that avoid relying on a savings account. Making money is deeper than saving for multiple reasons that we seem to ignore.
– Improper Saving can be a Waste
If you know anything about politics, you know what depreciation is. If you forgot or do not know, depreciation is simply the loss of value in a particular currency relative to another. Every year the USD loses its value in respect to other currencies. With this in mind, $1000 saved today may only be worth $800 by the time you retire (NY Times Full Article). If you look at some bigger numbers, this total loss can grow exponentially. Don’t look to save every single penny. Diversify your saving potential by looking to invest a portion of the savings into stocks and yourself.
– Reinvesting in Yourself
There are countless ways to approach reinvesting in yourself, but in the long haul it will pay off. As mentioned above, seeking a mentor can be a very rewarding and daunting task. Look at a reputable mentor as another college class. You are paying for wisdom and insight that others may not have the funds or will to obtain. A mentor does not necessarily have to cost $400 and, in many cases, can offer free advice. Purchasing a $12 iBook by a successful person, like an entrepreneur, may provide you all of the guidance needed to establish new profitable income. Pushing yourself to be willing to learn will open your mind to new opportunities that you may never have though of.
The point is, you should not rely only on saving to make you rich later in your lifetime. I’m sure you have heard the phrase, ” You gotta spend money to make money,”. Whether you believe it or not, it is a very true motto. Don’t be afraid to put some money into stocks, obtaining knowledge, or receiving advice. You could acquire a high return on investment sooner than you ever thought possible. Go to school, get your education and find a decent job, but don’t just stop there! Start applying all of the knowledge you obtained in your life, to your life. Investing in yourself may feel like a waste of money until you are rewarded far before your savings pays off. Do NOT save for a rainy day; just be smart about how you save while the skies are clear!