Total Reading Time: 5 minutes.
Greetings. I’m Arman Assadi. Welcome to our very first… I don’t know what we’re going to call these. It’s not quite a podcast. It’s like a minicast, an audiocast. We’ll call it a minicast. How about that? Welcome to our first minicast. Today’s topic is really important — about what the number one thing you need to be investing your money and hard-earned cash into.
You work, you work, you work, you make money, and then you have to decide how to spend it. What do you spend it on?
What I Discovered From the Rich
I recently wrote another post titled—I Discovered What the Rich Know About Wealth and I Can’t Keep It to Myself.
The first thing you need to understand about investing is that you should always be transferring or moving your dollars. Now you may not have dollars. You could have some other currency. But you need to be moving your dollars or cash into assets.
There are two types of assets. Assets are things that grow, they’re more valuable than cash. Assets are what the rich invest in. They’re always investing. It’s not about how much cash is in the bank, it’s about how many assets.
Now I divide these assets in two different classes.
The first class is real, tangible things that you can invest in like real estate and stocks and precious metals. There’s a lot of different things you can invest in. You can invest in a company, you can invest in anything.
Now the other class of thing that you can invest in is yourself.
When you invest in yourself, if you are always on a trajectory of growth, if you are a self-directed learner and you’re constantly growing, you have to invest in yourself.
The number one thing that you should be investing in is education.
Let me explain why…
Education is Key
The more you learn and the more information and knowledge you have, the more you can actually turn that into more cash and more opportunities. You then complete that cycle of taking the knowledge and turning it into some sort of strategy where you implement and take action and do something in your life.
I’ll give you an example.
I have an insane appetite for reading. If I could do anything all day long (and this is actually what I’m working toward) it’s to literally have a life where all I do for work is read and write all day. The input is reading and maybe listening to podcasts and things like that, but that’s an input. That input is in the form of education.
The output is articles, videos, even minicasts like this. That’s ultimately the direction I want to go because that’s my craft. I already know this is my life’s craft. It’s because I know and I feel alive in that moment, especially when I’m helping people, especially when I take that information and knowledge and make it tangible; make it actionable for somebody else.
I see the difference it has in their lives.
The value of education for you could be something different, but what you have to understand is that the education always becomes something.
It’s always tangible.
You can always do something with that education. In my opinion, investing in yourself through education is even more valuable than investing in tangible assets.
Assets have a fixed growth rate. You cannot control how quickly your stocks grow. You invest and you hope that this grows over time. Generally they do. It’s a smart investment to have actual assets that are growing over time.
Investing in Yourself
By far the number one thing you can do is invest in yourself.
You do that through education. You do that by attending that conference that you’re not sure you should attend. You do that by taking online classes. You do that by investing in personal development and self-development in yourself.
I attended my first Tony Robbins event (Unleash the Power Within—basically like his elementary school, pre-school-level event) four years ago, after I left Google. It completely transformed my life and allowed me to really understand my craft, to allow me to get over some limiting beliefs.
It was a good time. I had a really awesome time and it really transformed the direction I was moving in my life.
Four years later I attended again in order to take some family members, in order to take some really close friends of mine, and decided that it was time to go to the next level. Now this next level event starts at $6,000. That is a major amount of money. Long story short, I was able to negotiate that down to around $4,000, between you and I, by putting a group together. That’s what I’m going to be doing.
Next year I’m going to be going to Australia to the Gold Coast to attend his Date With Destiny event. It’s $4,000. There was a moment that I hesitated. There was a moment that I thought, “Is this the smartest thing to be spending my money on? $4,000? Holy shit!”
The reality is that is going to compound more than anything else ever will, more than any stock ever will, because those little shifts, those little ah-ha moments, as you know, rapidly change your life.
Invest in yourself.
That’s just one example of a way I’ve invested in myself. I’m constantly investing in myself. It doesn’t always require money. Just by getting around the right people you’re investing in yourself and your education.
Ramit Sethi asked his audience, “what is the best investment you’ve ever made.” You can see the answers here. Notice how many of them are people investing in themselves, including Ramit’s personal example:
In college, I flew across the country to meet Seth Godin, which led to an internship, which led to 2 published books, TV exposure, and much more.
Another great article Royale Scuderi over at Lifehack talks about 3 valuable ways to invest in yourself, and gives some great tangible examples that align perfectly with this article.
Note from Arman: I’m back from the event now and I can say the investment has already “paid off”. Everyone’s experience is different since we all go for different reasons/outcomes, but for me it’s delivered a positive ROI through a few specific work initiatives I’ve implemented (which is what most people want to know) and delivered a massive increase in self-development and awareness. Plus, this is only the beginning. An investment in yourself delivers massive “compound interest” over time.
Always look for ways to educate yourself. There is nothing more valuable in this world.
Information without implementation is absolutely useless.
That is all for today’s minicast. Hope you enjoyed that one. Make sure to take action on it. In any way you can, implement this idea into your life today.