Your First New Investment Should Be In You

The economy continues to languish and, if you are like me and a lot of other folks, whatever investments you did have prior to this recession took a major hit. Suddenly, your plans for early retirement have been …. “modified”. Certainly, there are signs of life and we all know that things will someday be back to “normal”. Personally, and I tend to be very conservative, I am watching the economic indicators climb back up and am awaiting the right time to jump back in. The real question is … “Jump back into what?”. I’m a little queasy on stocks and not that much more comfortable with real estate. Precious metals are interesting, I just really wish that I had bought gold when it was at $400.

Regardless of what I choose to do, I have this agonizing feeling that whatever that may be, I’m going to get slaughtered. Again (smile). There is, however, one investment vehicle that has never abandoned me. Me. I am what I have to carry me up to, and into, retirement.  It is going to be what I choose to do now that is going to generate the dollars needed to see me through those, hopefully, golden years.

I am my most valuable commodity and it only makes sense that I need to devote the largest percentage of my investment efforts into seeing that this asset performs to its maximum potential. While by no means a complete list, we can divide your investment into four major categories: family, health, spiritual, and professional. I am by no means even remotely qualified to discuss the first three. Suffice to say that those three houses all need to be in proper order. Being of poor condition in any of these will without question affect everything you either want, or attempt, to accomplish. As to the fourth …..

1. Does this economy find you laying back or aggressively moving forward? If you find yourself to be “coasting”, you are likely headed downhill.
2. What have you done in terms of your professional education and development? Are you taking the steps necessary to get better at what you are paid to do?
3. Do you view books, seminars, and workshops to be expenses that you cannot afford or investments that you cannot afford not to make?
4. Are you taking this opportunity to network with other professionals like you have never done before in the past?
5. Will you be properly positioned to take maximum advantage of the inevitable “recovery”?

Of course, we can’t finish this topic without a more in-depth discussion regarding networking. Networking and referral business is, without question, the most profitable type of transaction you can ever hope to be a part of. Consistently. I am always both puzzled and amused by those who view any costs associated with this activity as expenses vs. investments. Sure, I know that times are tough. If I spend $25 per week on networking activities, that’s $25 that I will not be able to spend at Starbucks, McDonald’s, or Joe’s House of Beer. Pretty tough to argue with those compelling examples. Doesn’t much matter that your $25 networking investment will quite likely generate a return of 10 fold vs. a gain of 10 lbs. (smile). Short post today. My Monday gift to you (smile). Thanks for visiting! Craig

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