One of the most important things in investment is that we must always remember to invest in ourselves first before we invest in other things. What I mean by this is you must be willing to ‘invest’ (spend) your money on things like:
1. Books & Magazines: There is an abundance of knowledge out there that we need to learn. Therefore, buy some books or magazines related to the field that you will want to master in. For example, if you want to invest in property later on, it will be a good idea to get some property investment books so that you have a basic idea of what property investment is all about.
2. Training: A lot of tacit knowledge and experience lies within those who have succeeded in that particular field. Do not be stingy to spend money to attend training conducted by experts in the field that you want to venture. For example, if you want to invest in stock markets, find trainings that specialize in stock markets and are conducted by experts of the stock trading world.
3. Subscription to blogs: There are a lot of financial blogs out there that offer a lot of services to its subscribers. You might need to pay a little to subscribe, but if you really utilize what they put up on their blog, it will be worth the investment. If you want to learn on US market stock trading, you can learn from Tim Sykes who is an expert penny stock trader:
4. Join Strategic Networks: If you want to learn more about MLM, you might want to join a MLM group so that you get insider info and strategies to prosper in the MLM world. For different interests, there are often networks that have been established to gather people in that field, and usually you need to pay a fee to become a member. As for me, I joined the MAPS (Malaysian Association of Professional Speakers) so that I can learn more on how to speak professionally from all the experts in the field. Therefore, the small annual fee that I need to pay is nothing compared to all the learning that I gained from all the activities.
From all the points above, we can conclude that the ultimate investment is investing in YOUR KNOWLEDGE! With knowledge, comes power. With knowledge about the field before entering it, we can avoid making mistakes that cause big losses to our capital and hence crushing our lives. Therefore, do not be too stingy when it comes to investing in knowledge, evaluate the cost versus the long term benefit wisely, and make the investment. I did, and will still be investing in knowledge whenever I have the chance.