68. A different look at investing

NFTs, Bitcoin, and stocks are all useless unless you first invest in yourself.

When you invest in all these various currencies you are betting on something external to go in your favour; you may be lucky, you may know a thing or two, but at the end of the day it is out of your control.

Flip that around to invest in yourself and you instantly improve your life overall. The machine that operates your existence has just levelled up- that’s surely preferable to be investing in someone else’s machine.

• Invest in the ability to get the initial capital

• Invest in the development of your skills and talents in gaining money

• Invest in the understanding of saving

Investing aggressively into yourself and your business looks odd in the short term as diminishes profits- however, it raises your potential earnings, and efficiency to get there as you have newfound knowledge.

We can see this apparent in big companies such as Tesla. They were seen to be losing money for years because of their continual investment in their technology and development. They continued with this tactic though as wanted to make the gap of knowledge between them and their competitors so big that people wouldn’t even dare attempt to challenge them- yet from the outside, they looked to be failing.

It is adopting a long term mindset rather than giving in to the short term gratification of showing off wealth.

When we compare this to that of investing elsewhere- you are fuelling someone else’s venture.

Why would you prefer that?

High risk and reward investments also require a lot of time and research- this again steals your focus from your active investments.

You will be distracted from your initial money makers and won’t have the ability to develop or even continue the growth of your own business.

So what is the alternative?

Invest only when you have reached a competent level in your personal and professional life.

Focus on ways to get money to work for you rather than you for it, eg Index Funds.

Be a continuous student prioritising the development of yourself rather than delegating resources elsewhere.

Best wishes in your investing journey.

P.S- For those whose blood is boiling, this is not financial advice- these are just my opinions on what I will be doing. Go and lose some money on some Etherium and then come back to me;)