There is a famous quote from Jim Rohn that I love that says “Formal education will make you a living, self education will make you a fortune!”
So what is the best cash investment you will ever make? The investment in yourself!
What Jim is saying in this quote is while getting a traditional education is important such as a University or college degree, really what it is teaching you is to be an employee and to work for a living.
Where as with self education, learning about entrepreneurship, business and investing in your own financial fluency and self-development is what will eventually make you a fortune.
If you haven’t realised it yet, the old model of go to school, get a good job, work hard and retire at 65 that we have been sold our entire lives is dead and buried!
For myself personally, self-education is so important that I have an education account set up in my money management system.
The EDUC Account
As I have spoken of before, my money management system consists of an FFA and LTSS account where I save 10% of my income into each separate account.
Because I believe self-development and education is so important, I also have an education or EDUC account in which I also save an additional 10%.
Personally I believe this is one of the most important accounts that you can ever have because the best investment you will ever make is in yourself and your own financial education!
So what self-education should I Invest in?
- Books!
Remember readers are leaders.
Read books about investing, financial books, autobiographies of entrepreneurs and specific tactics such as property and share investment.
As well as books on business, online business and personal-development books.
A few classics you can start with are “Rich Dad Poor Dad”, “Secrets of the Millionaire Mind”, “The Richest Man in Babylon” and “The Charge”.
- Listen to audios.
I like to use what Tony Robbins calls NET time (no extra time) and listen to audio recordings when I am driving, exercising or even working around the house.
- Go to seminars.
Seminars can be great immersion events where you can learn some awesome information and have lots of fun as well.
Just be aware that many have upsells to some of their other programs and while most are well worth the money there are some sharks and scams that just want to rip you off.
I know that personally I have been burnt in the past, but I have also got some brilliant information that has moved me forward. Just leave the credit card at home!
- Do online courses
Some of the best education that I have received is from the comfort of my own home doing online courses.
- Search the internet
Always gain as much information as you can for free.
Places such as You Tube has an enormous amount of valuable content and there is nothing that you can’t google these days!
- Get a coach
Having coaches and mentors is a great way to achieve your goals.
They keep you accountable, offer great strategies, give you a different perspective and can help you get out of your own way.
Hiring a personal coach has been fantastic for myself to help me achieve my goals.
So invest in your greatest asset
Your own education!
I have spent thousands of dollars on my self-education and personal development and it has been worth every cent.
Even when I made a mistake with some of the programs that I bought into I still learned so much.
You learn more from your failures than your success!
Another great quote from Tony Robbins says “If you are not growing then you are dying”
I couldn’t agree more!
And remember no one will care more about your own money than you do… So get educated!
If you have any questions or comments feel free to leave them below.
Until next time I am John W. Newman and always remember…
Dream It… Believe It… Then Achieve It!
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