The Best Investment for 2011
My 14-year-old 8th grade son just took the SAT in January.
He got great scores – enough to already get him in a Big Ten school like the University of Wisconsin or Ohio State (and he hasn't even started high school yet).
Of course, he has designs on Yale (we kind of think big in the Roller household), and I have no doubt he'll be in the 7% of applicants who get accepted.
Have you seen what Harvard and Yale cost these days? Yikes! $33,696 and $36,500 per year for tuition alone in 2009-10.
Seeing those figures reminds me I need to get to that A-level copywriter status fast!
Since I have saving for college on the brain, you might think that my suggestion for best investment for 2011 is to invest in education.
You would be partially right.
I'm all for investing in higher education, even as tuition costs skyrocket.
But I'm even more for investing in ideas that make me money.
See, the problem is, I'm a little behind on saving enough money to pay for all four of my kids to have an Ivy League education.
That's why I decided a few years ago to start investing in ideas that would eventually make me way more money than any regular job.
I'm in the process of writing a Money-Making Website (and so is my 14-year-old son with Ivy League tastes, who knows he's going to be paying for part of it).
I'm studying Gary Scott's Self-Publishing: Your Complete Business Plan for Creating a Life Without Borders, as my wife and kids and I get ready to venture to Ecuador for a month this summer (a scouting trip as we investigate opportunities there).
I'll be redoing my website after I take Rebecca's Build Your Freelance Website in Four Days Express Webinar Series next week.
And, of course, first and foremost are my copywriting resources from AWAI, which have already given me a return on investment of over 1,121% (calculated over a year ago – it's even higher now).
Hmm … 1,121% … or 7% if I'm lucky in the stock market?
I'll put my odds on me and my abilities to create wealth.
On August 28, 2008, as the U.S. recession was just warming up, billionaire investor and philanthropist Warren Buffett addressed stockholders of his Berkshire Hathaway Group. Someone asked him about the best investment they could make at that time.
"The most important investment you can make is in yourself … the best asset is your own self. You can become to an enormous degree the person you want to be."
I agree with Buffett wholeheartedly.
We're in a crazy economy. Relying on the stock market for your retirement or wealth isn't the safe bet it used to be. Employment now seems riskier than carving out your own path.
Fact is, there aren't a lot of guarantees when you depend on other people or companies for your success.
One thing you can depend on is you.
Invest in yourself, and become the person you want to be.
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Steve,
It used to be, during the Industrial age, that companies would hire you. They gave you a pat on the back and a gold watch and you would be retired after putting in thirty or fourty years of your life. Until then, the company would take care of you.
Well, we have lost that social contract.
There is no longer any guarantee of life-time employment. You could be hired today and laid off in record time.
That's why freelancing is becoming more respectable now. Thanks for reminding us.
Cheers.
Archan Mehta – May 15, 2011 at 5:28 am
I'll pass on the gold watch and buy my own! There's a lot to be said for comfort and security and guarantees. But even in the "golden" days, there was a huge cost for acquiring those things. It's called Freedom. Same as today. I really believe that there's more opportunity than ever now, partly because so many people have given up trying.
Steve Roller – May 16, 2011 at 10:58 am