As a woman, investing in yourself is an important aspect of personal growth and development. It can help you achieve your goals, improve your well-being, and lead to greater success in all areas of your life. In this article, we'll explore three essential ways for women to invest in themselves.
1. Investing in your Knowledge
Investing in your knowledge can provide you with valuable skills and knowledge that can help you succeed in your career or personal life. It can be difficult to know when it's right to spend money on your knowledge. My philosophy is if it's under $50 like a book or e-course, go for it. Even if you only get 1 nugget of info that help you improve your life or career, it's worth it.
Larger investments like a masterclass or formal degree will require a bit more care before jumping in. How much will it cost? Will the ROI be worth it? How much time are you going to have to invest? For example, if you're thinking about going back to school to get your an advanced degree, consider if the ROI is worth it. At one point, I was seriously considering getting my PhD. But when I looked at the time it was going to take, the thousands of dollars in expense, I realized that it wasn't going to help me get any jobs I wanted, it might increase my salary by a smidge, and I would have sacrifice at least a couple years of my life. I decided it wasn't worth the investment.
However, I did spend $2,000 on an online course because I needed a jumpstart to get my business going. The potential ROI is limitless.
2. Investing in your health and wellness
You probably already know that taking care of your health and wellness is crucial for overall well-being and success. This can include regular exercise, eating a balanced diet, getting enough sleep, and practicing self-care. But as busy professional, it's hard to make time for one more thing. Forming a new habit is equally as difficult.
A former coach of mine taught me something I've used over and over. Start with something so easy, you can't fail. Then build momentum.
If you want to start running again, don't try to reach 2 miles on your first run. Make your goal to run around the block. If you achieve your goal and feel like more, keep going. If you're completely winded and dying, you met your goal and it's easier to get started the next time because you didn't fail. Over time you'll increase your goal from around the block to half a mile then to a mile and so on.
As women, we often put everyone else's needs above our own. But it's hard to take care of others if you aren't well. Take time for your health and wellness. Start small and don't try to fix everything all at once.
3. Investing in your financial future
You probably already have a budget, have an emergency fund, and are putting money aside for your retirement either through a 401K or RothIRA. If you're not, that's where you need to start.
If you're ready to move on to more advanced financial planning, you may be thinking about the stock market or real estate. But consider how time consuming it can be to properly research a company worth investing in or a house to rent or flip. Is there any guarantee that you'll make money? If you're busy in your career or trying to build a business, it's a daunting task to manage all this. But procrastinating isn't an option because your 65 year old self needs a great life!
For years, I tried my hand a the stock market and crypto. I made some money, I lost some money. I might have been more successful if I'd been focusing on only that instead of moving up the ranks in my career. I always felt like there had to be an easier way to build wealth. It took me over a decide to find out... there is!
I stumbled on a 150 year old wealth building strategy that nobody talks about! Why? Because it's not sexy, and there's no 195% potential (that also comes with a 195% risk).
Instead it's a wealth building strategy that is slow and steady, but has guaranteed dividends. That's right! No losses. There's no huge investment of time like renovating or managing renters. Once you set it up, you can go back to doing the important things in life.
I call this the Feathered Nest Account™. It's an easy way to build your financial foundation with a low risk strategy.
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Day Lark Wealth helps women achieve their financial goals and secure their financial future.
This information is for educational purposes only and should not be considered specific tax, legal, investment or planning advice.
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