You’ve probably heard this catch phrase used many times over the last year – “You need to invest in yourself.” However, what does that actually mean?
What’s the first thing you think about when you hear the word “investing”? Probably investing in stocks, real estate, or savings.
But what about yourself?
Whether that’s expanding your knowledge, developing positive new habits (while breaking negative ones), or getting your financial and personal affairs organized, it’s your responsibility to give back to yourself before you can give your time and energy to other people and things.
Investing in yourself is a sure-fire way to grow in the real estate investing space, however, it takes hard work and discipline.
Embrace lifelong learning
Education doesn’t end once you leave the classroom, and you can build your skill set and feed your passions with lifelong learning. There’s still so much to learn in this world, not just about real estate investing. We are truly blessed with the amount of new information we have access to. If you’re interested in learning more about real estate investing you need to be consistently learning.
I know it might feel pointless to set goals―considering how well everyone’s went last year―but hear me out. These goals don’t have to be sweeping, over-arching goals like paying off all your debts (especially as we don’t know how the economy is going to fare this year). They can be as simple as setting up auto payments with your financial institution or limiting eating out to only once per month. Whatever short-term and perhaps long-term goals you choose to focus on this year, make sure they’re obtainable and won’t leave you feeling worse off at the end of the year if you don’t accomplish all of them. In order to scale and grow, it’s imperative to get your financial house in order.
Find a mentor
The best way to invest in yourself is by having some accountability. Let’s face it, we could all use someone to talk to – especially about our goals. Find a mentor this year who is also in the space and set up a time to speak regularly. This will help you keep on track.
Prioritize your mental health
According to a 2018 study, at least 44% of Canadians believe their financial state impacts their mental health in a negative way. Are you one of them? This year make your mental health a priority by checking in with yourself regularly to manage stress levels and prevent burnout. Give yourself permission to set boundaries and be comfortable with making a mistake. Understand that you might not be where you thought you’d be right now (who is?) but that you’ll get there one day.
Start a journal
Document it! Tell your story. Everyone sees only the good in real estate investing but the climb can be lonely. It’s a great, safe space to reflect, plan, visualize and forgive. There are lots of benefits to journaling, like managing stress, identifying issues, and solving problems. It’s also a great place to practice gratitude and set goals.
These are just 5 ways that you can invest in yourself and help provide you structure as you go down the path of real estate investing. There is no shortcut to this just a lot of hard work. The rewards are endless but you need to consistently be investing in yourself in order to achieve them. If we can help you achieve those goals either through acquisition or managing those assets, please don’t hesitate to reach out to our team.