Let's talk about investing in yourself.. real shit. No self improvement tricks and tactics. How do you really invest in yourself as a young person?
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Thread*
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First, it takes courage to sit down and assess your financial position. Get a pen and paper, calculate your entire networth and map that with your cashflows.
Are you happy with the numbers? Are you living on deficit budgeting?
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Are you happy with the numbers? Are you living on deficit budgeting?
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If you are happy with the number, find a self improvement book, go to the gym, travel, read some books, focus on your diet and stuff..
Else, buckle up and let's continue with the thread..
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Else, buckle up and let's continue with the thread..
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Does your current income depend on your academic papers or skill or both? When were talk of investing in yourself, we want to upscale your answer above.
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If academic papers, would more academic qualifications upscale your income significantly? Do a cost-benefit analysis.
If this works for you, go for that masters, professional course, PHD, etc
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If this works for you, go for that masters, professional course, PHD, etc
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Would some extra skills add value to your income or productivity?
If yes, go for that extra skill and start building.
Sometimes, it may be just doing an enterprise course online or learning a new coding language.
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If yes, go for that extra skill and start building.
Sometimes, it may be just doing an enterprise course online or learning a new coding language.
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Most ordinary jobs are limited to human capacity. For instance, and I am not demeaning barbers, a barber can only shave a limited number of heads per day no matter how hardworking or impressive skill they have.
Is it possible to scale your work?
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Is it possible to scale your work?
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In other careers, you can easily delegate some tasks and create more time to double down on the stuff that makes you more income.
This means you can hire our outsource labor for some time consuming tasks.
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This means you can hire our outsource labor for some time consuming tasks.
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Now let's get to tech and innovation. If a task in your job or business can be automated, that would save you a crazy lot of time and give you more time to engage in more valuable tasks.
Can you automate tasks in your gig?
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Can you automate tasks in your gig?
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Now let's get to finances, are consumer debts pulling you down? Are you consistently taking mobile and credit card loans for consumption? Sit down and calculate the annual interest on such loans. Are you happy with the number?
If there's a problem, solve it.
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If there's a problem, solve it.
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If you can, do some research on tips and tricks to get you debt free. This may include cutting down on some expenses, working extra hard, or simply trimming some budgets.
By all means, get off consumer debt.
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By all means, get off consumer debt.
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Do you have insurance for important stuff like health and car? Are you one illness away from poverty or are you a smart person who prefers and pays for being ready?
Start paying for insurance on important stuff. This will give you peace of mind and protect you.
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Start paying for insurance on important stuff. This will give you peace of mind and protect you.
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If you have an emergency tomorrow, do you have some fund to help you handle it? What if you lost your job or business tomorrow?
Build an emergency fund and invest it in liquid assets.
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Build an emergency fund and invest it in liquid assets.
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Assume you started working at 25, you probably have 35 active years to work before you become senile and unemployable.
You and your family will have to live on that income until you die.
Can your current income handle that?
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You and your family will have to live on that income until you die.
Can your current income handle that?
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Start building a retirement fund. This includes the best way which is starting a business that you know, and a portfolio of investment assets that appreciate in time.
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Now let's get to your biggest asset, yourself. Are you healthy? Do you eat right? Are you stressed? Are you skilled? Do you have social skills to live well with other people? Can you handle the responsibility of raising a family? Are you skilled? Are you HAPPY?
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By extension, your biggest asset is the time you have on this little planet. Are you spending it optimally? Do you have good experiences? How about great experiences?
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Strike the right balance between spending your time on great experiences and working to secure a future full of greater experiences.
There are things that will give you a great experience today, but the opportunity cost is too expensive if you were to invest today.
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There are things that will give you a great experience today, but the opportunity cost is too expensive if you were to invest today.
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Now let's move to human connections. Do you have loved ones that you share experiences? Is it enough or you can do more? Have you made an impact on people's lives? Would you be fulfilled to make more impact?
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How about the community and environment? Is your current environment optimal for you and for future generations? Can you make a change?
By now you've probably used a million trees in your life, have you ever planted a single one?
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By now you've probably used a million trees in your life, have you ever planted a single one?
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Live, love, and laugh.
Take responsibility and deliver like no other person on your lineage.
Leave a mark.
Adiรณs
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Take responsibility and deliver like no other person on your lineage.
Leave a mark.
Adiรณs
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