By Marc C. Shaffer
As a financial advisor, I always have principles of financial investing in the front of my mind, but I love to take those principles and apply them to other areas of life. That might include investing in health, people, experiences, career development or something else, but the principles can translate very well. You set goals, make plans, get started and adjust along the way.
In what ways are you investing in your life? In what ways are you avoiding making investments in your life?
Many people think of investing as a sacrifice rather than an opportunity. You have to reframe this mentality, or you might miss out on a lot.
When you reframe your thinking to consider investing an “opportunity” for future good, it could help you get started on reaching those goals. It can be hard to overcome the fear of opportunity cost. But many times, your opportunity cost may be small but the opportunity lost could be huge. You may have to give up something or allocate a resource today for the opportunity to gain something better in the future.
Maybe you want to be stronger, but don’t want to sacrifice the time or physical effort it takes to get there. Without investing in the opportunity for increased health, you may find yourself 6 months, 5 years, or even 10 years down the road with that same desire but no results because you never invested. In fact, you may be in a worse state as age and other factors have been working against you. But, what if you took your goal and made a plan to invest just 10 minutes into a strength workout each day for a full week. You may find in week two you can lift heavier weights or increase your number of reps. You’re now reaping the compounding benefits of your investment. Each day, you’re starting from a stronger place than the day before.
I knew in my 20s that I wanted a big part of my life to include service to my community and organizations that were important to me. I’m almost 40 years old and just had my first child. I can’t imagine how hard it would be to just be starting to build out my goal of service. My life is busier, my career is busier, and my family is busier today than in my 20s, so adding a brand-new time commitment today would be more challenging. Because I started investing in this goal early by exploring many charitable organizations, serving on boards and building relationships, I was able to make small steps every year that now help me feel established in my role of service. And now, I can continue the relationships I have built to help better my community without it feeling like an overwhelming feat.
If you don’t want to do it alone, get help! Just as I help others with investing to reach financial goals, I have had others help me invest in other areas. A life coach helped me invest in time management, teachers helped me invest in education, and mentors helped me invest in career development.
Everyone is going to want something different out of life. People are going to have different goals, desires, and things that bring them joy. Invest now. Invest early in those things that you think are going to bring you joy. Don’t wait until the time seems right or perfect. Small steps along the way can be a huge help in getting to where you want to be and avoid wondering, “What if I had just started?”