Many people will advise you on how important it is to invest but very few people will confidently tell you that a specific investment is a good one. That’s because there is no fool proof way of telling which investment is actually a good idea. If there was a way of doing this then everybody would do it.
The stock market and many other markets are constantly fluctuating. What was hot last year may be ice cold this year. Sometimes all it takes is a few months for a good stock to turn bad and vice versa. The same goes for most investments that don’t have much to do with the stock market.
One of the most secure investments you can go for is an investment to improve yourself. Not all investments are about putting money on something and hoping its value goes up. A few ways in which you can invest in yourself include:
Learn a new skill: Learning a new skill may not instantly pay off but new skills have been a great source of income for many people. You should particularly try to learn skills that you can use when you aren’t doing your full time job. These are the kind of skills that can earn you some money even after retirement.
Go back to school: While a degree is sufficient for most people, a master’s degree can open new doors for you. You may get the knowledge to see new opportunities or finally be deemed ready for a job or promotion that you have been gunning for. You should pick your master’s degree course carefully and ensure that it’s the sort of degree that will actually have some weight and not just be a title.
Take a break: This may not seem much like of an investment but sometimes a good rest is exactly what will put you in the frame of mind to perform even better. Many people ignore their vacation days and work late nights in the hopes that these efforts will earn them something more but it is possible to suffer burnout from these situations and sometimes what you really need is a break.
Invest in a hobby: Hobbies can be a good long term distraction, something to get our minds off the stressful hours at work. Investing in a hobby will enable you to sustain it for longer. Hobbies also have the potential to generate income if used correctly so an investment in hobbies may not be too bad an idea.
Improve your image: A good image may just be the professional move you need. A change in your image may not only change how you are perceived but also demonstrate that you are willing to accommodate change in your life. An improved image may make you finally look the part for a job that you’ve wanted, it may improve your self-confidence or it may change how your co-workers interact with you which may improve your relation with them.
Investing in yourself doesn’t mean going out and spoiling yourself. Sometimes there are things you can do that increase your ‘stock price’ and make you a more valuable employee or allow you to do more valuable work.