Deciding on what to invest in can be complex because there are thousands of different possible choices. But every investment carries some type of risk in losing money or value. Many investments do not live up to the dreams of investors and can lead to huge financial setbacks. Investing in yourself, however, can be a more calculated path of growth and satisfaction.
After losing in other investments
One of the ways to get rich quick is the stock market. It’s also a way to lose money even quicker if you don’t know what you’re doing. Many people have heard the game is to buy low and sell high. But sometimes when people buy low, the price goes even lower week after week. It turns out they bought into a downtrend, so they’re either trapped in a loser for awhile or they sell shares for a loss.
A monkey with darts can sometimes pick winning stocks better than humans who do intense financial research, which makes wrong stock picks even more frustrating. Plenty of money can be made in the stock market, as the yield for winning portfolios tends to be around 12 percent. But the question is: are there better ways of earning income than investing in the S&P 500?
Some people venture into partnerships, but that doesn’t always work either. Even though two heads are usually better than one, sometimes if they disagree too much, it can hinder development and performance. Then there are investors who try to ride off popular trends. They see something working in the market so they invest in a startup that’s supposed to cash in on the trend, but by the time the company launches the trend has come and gone.
Turning to yourself for the solution
The best investment you can make is in yourself, because it builds your confidence, tools and your skills in whatever profession or activity you pursue. You can ultimately gain a much higher return on investment than the average successful stock portfolio.
When you pave your own path you can take more credit for your accomplishments and feel good you’re in control. Although not every career field allows for an individual to have the freedom to blaze their own trail, there are still plenty of opportunities for entrepreneurs across many different fields.
When you invest in yourself, you see the risks and rewards more clearly. One career field with minimal risks and steady rewards is online freelance writing. It has grown in popularity during the pandemic, as it’s possible to make a living from working at home on your computer. The main investment is the cost of the computer.
People with talent in web design or graphic arts can earn even higher income from home. Software programmers and engineers are among the top paid freelance workers. With each of these jobs the main cost is computing devices, along with education, cloud services and building a marketing list.
Conclusion
Launching a startup online has minimal costs, especially if you use several cloud services. Running your own business in any capacity is often more exciting and rewarding than working for others or guessing on stocks. In order to get to that level of career freedom, you need to invest in the tools that make you more skillful and marketable.