Updated: Aug 14, 2019
Let me ask you a question, did you know that the worst investment you can make is to leave your money in the savings account?
The average ROI on savings account is a whopping .06%. That means if you have $1,000 in your savings for 12 months, you would have only earned a meager $.60 cent.
I don't know about you, but that is not a worthwhile investment for me. But what if I told you I could offer you an investment option that guarantees a 100% ROI would you take the offer? I am sure you would.
The great news is that you can start that investment today, and the name of the company is called YOU Inc. That’s right, you are the investment and the ROI that you get back is determined by how much you invest in yourself.
What I've discovered over the years is that almost all the successful people I've read about or studied had one habit in common, they invested in themselves and as a result their income grew simultaneously.
Warren Buffett once said “The best investment you can make is an investment in yourself….The more you learn the more you earn.”
Speaking of warren Buffett, he reads roughly 500 pages a day
These billionaires are also voracious readers:
Mark Cuban 3 hours a day
Bill Gates 50 books a year
Mark Zuckerberg a book every two weeks
No wonder Proverbs 10:14 NKJV says "Wise people store knowledge." The reason is because it's what you know that will pave the way to your financial freedom.
So here are 4 simple and practical ways you can invest in yourself.
1. Develop a reading habit
If you read only one book a month you would have read 12 books by the end of the year. You can also enroll into what I call Mobile University for free, your car. According to a recent study, an average person spends 300 hours driving each year. If you spend a quarter of that time reading, sharpening your mind, it will drastically increase your value and your income. You can also rent audio books from the library for free and play them when you are driving. In a week you can run through 2 audio books using this simple method. YouTube is also another great resource you can leverage to feed your mind with great information.
2. Attend Seminars
This allows you to rob minds with other sharp minds and learn from experts in various fields. I started attending business seminars when I was 18 years old. This one habit led me to meeting some of the best business people I know, and some of them are still mentoring me in business today.
3. Schedule meeting with mentors
There is a saying that the birds of the same feather flock together. In other words, if you flock with successful people, in due time you will soon become one of them.
Proverbs 13:20 NCV puts it this way- Spend time with the wise and you will become wise, but the friends of fools will suffer.
I think you get the point.
4. Practice what you are learning
This is where the rubber meets the road. You must start applying what you are learning immediately. Don't be a dump ground for knowledge. A Lot of people are constantly learning, but they are not growing because they refuse to put what they know to work.
So always remember, you are where you are today because of what you don't know, and if you want to be successful then you’ll need to find a way to know what you currently don't know., that's the secret to success.