As you prepare your investing plan for the new year, don't forget to direct some of your resources toward improving yourself.
It's common, in December, to start thinking about your investing plan for the new year. Doubtless, the coming year involves a look at low cost funds, or perhaps a plan to improve your dividend stock portfolio.
Whether you are getting ready to rebalance your portfolio, open a new IRA, or engage in any number of other strategies, it's important that you also think about investing in your own best asset: YOU.
How to Invest in Yourself
As your investing plan for the new year unfolds, think about what resources you can put to work to enhance your best asset (it's you). Look at different areas of your life that could use improvement, and the work toward making yourself better. Some of the ways that you can get more out of your best asset include:
- Better health: How is your health situation? Could you improve your health? Good health can save you money over time. Plus, as you improve your health through better eating, exercise, and sleep habits, you will be more alert mentally, and more productive in general. This is a good way to prepare yourself to be more valuable at your job, or even to start your own business.
- Skills and education: Another good way to invest in yourself is to develop your skills and/or education. Figure out what others want to pay for, and then go for it. Ready yourself to take advantage of opportunities that might come. You can even prepare to make your own opportunities.
- Relationships: Improve your relationships. You will have a richer life if you have good relations with your family (especially your life partner and your kids, if you have them) and friends. It's much easier to deal with financial hardship when you have a good support system. And a good support system can push you to improve yourself in general.
- Business contacts: Don't forget about your business relationships. Investing in your business relationships can be a good way to get ahead with your finances, and in your business. Remember, though, that you need to give as well as receive help. Meet people in your field, and make an effort to get to know a few of them. This can help you a great deal in the new year.
- Career plan: If you plan to advance in your career, you need to develop a career strategy. Think about what you want to accomplish. Do you want a promotion? Do you want a job that you enjoy more? Where are you headed with your career. Take a look at your situation, and where you want to be, and then make the necessary changes to help you accomplish your career goals. A career plan can be a great way to invest in yourself.
- Self-improvement: Don't forget to take time for yourself. You need to make time to relax and recharge. You can also pick up on activities that you enjoy. Read more for knowledge as well as pleasure. Start a new hobby, or get better at an old hobby. Make the time for yourself in this way, and you will be happier, and better balanced.
It's a new year, and a good time to start putting your resources into worthwhile things. Just remember that you have emotional resources as well as financial resources. And you want to engage those resources — and even use some financial resources — to creating an investing plan for the new year that involves boosting your own marketability and improving your own life.
Image source: StockMonkeys.com via Flickr
8 thoughts on “Investing Plan for the New Year: Put Resources Into Yourself”
Great post Miranda. I think it is always worth while to invest in yourself. It is important to continue adding to your education, no matter where are are in your life/career. There is nothing wrong with more education.
Yes. Learning is something that others can’t take from you. It remains yours, and you can always fall back on wat you know.
And sleep. I think the best way to invest in myself would be to get more sleep.
🙂 I agree. More sleep is always nice.
Great reminders. Someone I respect once said we should think of ourselves as trees, with branches that reflect the time we spend on various pursuits. She encouraged us to make sure all of the branches developed and that the rampant ones got pruned back into a pleasing form. I would guess that means focusing all of our time and energies on our finances wouldn’t be good. We need to develop all of our skills and talents. Thanks for some things to consider.
I like that image. It’s good to remember that being well-rounded as a person makes our lives more beautiful.
Life is much more about money. Great reminders. I need to get back to regular date nights with my wife!
And I’m sure your wife will appreciate it, too! 🙂