This week a new client came into my office and wrote me a check for several thousand dollars. They could have taken the money and gone on vacation, paid it down on a new car, or bought a new piece of furniture. Instead, they chose to invest in themselves to develop a clear career roadmap and move forward to a better job.
Let’s take a closer look at their other possible expenditures:
– A vacation might have been very enjoyable. This would have provided them the immediate gratification that many people desire. But, it would not have improved their future.
– A new car might also have provided some immediate gratification, too. But it would also result in them continuing to spend money on a depreciating asset.
– A new piece of furniture would be nice to have. They could enjoy it for a while, until it blended into the others. And it was sure to depreciate.
Yes, the difference in investing in yourself is that you are investing to increase the value … to cause “appreciation” of your greatest asset: yourself.
Yet far too few people ever do this.
What about you? When was the last time you invested an amount of money in yourself that was in any way comparable to what you have spent on a vacation or a variety of depreciating assets …
cars, furniture, clothes, electronics, etc.?
For most people, they are their greatest asset. You can invest in yourself and make yourself more valuable. Such an investment can pay for itself many times over.
Decades ago, workers assumed that their employers would invest in them in order to make them more valuable to the organization. Today, employers invest much in developing their employees.
If you are not willing to invest in yourself, you may find that no one else is either.
So, what’s it going to be? the vacation, car, furniture… or YOU?
PS: For most readers, I am not talking about going back to school and investing in formal education. This tends to not be an effective investment any longer.