Here’s a thought experiment to help us reflect on how we invest our limited time and resources.
Before we launch into it, I need to define our shared definition of “investing”: investing is putting limited resource (e.g., money, time) into something today with the hope of a future return (e.g., profit, new skills).
With that said, here we go.
What if you could invest in one, and only one, of the following three options:
- Investing in assets: stocks, bonds, and property
- Investing in achievements: performing well in your job, building a strong network of people and relationships, becoming a leader in your field
- Investing in yourself: developing wisdom, skills, character, and good judgement
Which single investment pathway would you choose?
Of course, in reality, we can choose multiple pathways at the same time, but the thought experiment forces us to consider what we value most.
Now, compare your answer to how you actually spend your time and resources.
Personally, I aim to spend as much time on Number 3 as possible.
Money, jobs, and financial security can fade as quickly as you can say “recession”. But good character and wisdom can’t be stolen.