After learning about “Paying Yourself First”, the next valuable lesson to learn is to “Invest in Yourself First”. If you read this site from the very beginning, it will be very easy for you to follow. “Why would you have to invest in yourself first?” you would ask.
Yes, you are right. Before you start investing or putting that sum of money you have been paying yourself into any investment plan, you should learn a few things about the subject matter first. At least know what you are getting into, the risk levels and what is the return.
If you are an employee trading time for money on a linear power earning power, you will probably need a change of mindset. Do not be mistaken, I am not against working for others, in fact most of the babyboomers only know how to earn a living by trading our time for money. We were brought up to “Go to school, get good grades to get a good paying job“ and that is the way we are being conditioned.
Thats why “Invest in Yourself First”. Learn by reading all about investing you can get your hands on. Listen to motivational talk. Speak to financial planners, your bankers, your remisiers, anybody for that matter to learn. Do not be shy to ask questions and learn from them. No man is an island. Of course not all things told to you is helpful but you will have to be the judge of that and throw out the garbage.
Be patient, do not be in a hurry to put your hard earned money to work for you. Check things out before deciding on what you want to do. However, having said that, of course, you do not wait until you have master all the skills of investing before starting.
Life is a learning curve….investing your money and investing in yourself will be a continuous process and the best route to investing is to “Earn as you Learn”.