Invest in Yourself
So I’m sure you’ve heard this more than a dozen times. One of the best investments you can make is in yourself. I’m not talking about your clothes, your phone, car, etc. I’m talking about your skills and health. Oftentimes your skill level is restricted by your level of health, so those are tightly coupled.
Regardless of macroeconomic conditions, folks that can add value to society will enjoy a level of comfort beyond those who cannot if you take away everything. If you take away all wealth through a Weimar Republic style inflation, you’ll find that folks who are capable are generally better off than those who aren’t.
A lousy stockmarket, market or currency manipulation cannot take knowledge out of your brain or remove your experiences.
Where to Invest Your Time
Time is the biggest cost when it comes to investing in yourself. True, college tuition is measured in dollars, but the true investments that are most valuable are experiences and skills that can be obtained with an internet connection and a display. I challenge any of you to comment below with a skill that cannot be freely obtained. Other pieces of knowledge should be obtained trying to increase your assets. For example, learn more about real estate as you acquire more investment properties. Learn more about how to deal with people as you make hard mistakes and get burned. If you could learn to avoid these pitfalls, that’s great! If you don’t then as long as the mistake doesn’t completely destroy you, you should take that as a learning opportunity.