Make a wise investment with your time and money and you can have the life you always dreamed about having.
Are you investing your time and money in a way that will ensure you have a successful, prosperous and joyous life?
Time and money are the two most valuable resources of our modern world. Know how they work and how to invest them and you can have the life you always dreamed about having.
Fail to use them wisely and you will be stuck in the ‘rat-race’, forever grinding away and feeling trapped.
How do you invest time and money wisely?
Here are 5 vital lessons you need to know:
- Investment with Purpose
- Investment resources.
- Become the master of time.
- Chose investment over consumption, and
- Understand Return on Investment.
Learn these valuable lessons and start to change your future today. Master time and money and you can become the architect of whatever wonderful life you would like to manifest.
Investment with Purpose:
When my wife and I first started out on this journey to success, I learned that one of the key habits of very successful people was reading – a lot of reading. I had a lot to learn, so my first essential investment was in knowledge. I began to do a lot of reading.
The very first book I bought was Investing with Purpose, by Mark Aardsma. This book taught me a lot about investing, but more importantly, it taught me about living with purpose and investing so I can achieve the kind of life I want.
The big lessons I learnt were:
1. The purpose of Investment:
Remember the big picture:
The best way to successfully live with purpose is to be very clear about what you will use your wealth for. What is the big picture?
For me the big picture is living a beautiful life and being free and financially powerful enough to never have to say ‘I can’t afford it’.
I know money can’t buy me love, so I’m not striving for a pile of cash just for the cash itself. The cash is a lever that will give me the power to have the life I want and to be able to do great things in the world.
My purpose is to achieve this goal and spend my future years living happy and traveling around the world doing things that will make me feel good. Things like seeing the wonders of the world, teaching my children first hand about life on planet Earth, helping the less fortunate, and yes I also want to spend some time cruising in luxury.
The purpose of wealth
I want to enjoy life and be able to contribute to the lives of others.
This is what huge wealth means to me.
It means having the money to do what I want and having control over my time, so I can truly enjoy life.
I think of this every day, and this is my purpose and what gets me to keep striving for success.
To have this kind of life I need to become the master of money.
There is no way I, on my moderately good teacher’s salary, will ever have the kind of absolute freedom I dream about.
I need to learn how to get my money to work for me. And I need to invest more time to create more income streams.
This means hard work. But if you want a million dollar lifestyle, it takes a million dollar effort.
What to do:
- Have a great purpose for your life.
- Keep it clear in your mind.
- Strive every day to bring that into reality.
- Learn how money works and begin to invest.
Living with purpose gives you a chance to make the impossible, possible.
To learn more about getting that million dollar lifestyle and what it takes to become the type of person who deserves it, read my article Millionaire Mindset: 6 Steps to Behave Like a Millionaire.
2 Be aware of your Investment Resources.
When living with purpose, you start to direct everything in your life towards your purpose. If you have a big target, you need to be actively using all your resources to help you achieve your goals.
Resources are not just cash or stocks or assets. You begin to realize you have resources all around you. The big lesson that I got was that we also have huge amounts of shared resources that I never really thought about. We have public libraries, public roads to use and so on. But most of all, the power of the internet these days gives us an ocean of relatively free resources.
Wonderful Modern Resources
With the internet, if you want to make a million dollars – you can literally ask the Google machine, and it will give you a mountain of options to think about.
If you don’t know how to run a business, or how to do accounting, or how to market, or how to make something, and so on, all you have to do is ask and you can find an answer. That is an amazing resource, and I’ve had to use it a lot.
Once I realized this, I started to make use of these free resources. I started to look at every resource I had and actively tried to decide how I could use and maximize every resource I had and every resource I could find.
I used to be the type of person who just saw barriers. However, once I learned these lessons about purpose and acknowledging resources, I started to be the type who went looking for answers.
Start with what you have
We didn’t have hundreds of thousands to invest, but we had a few thousand. And we could start to save more. So we started to invest. We didn’t know what to do, but we had friends and we searched for books and articles and professional advice. We learned and we started and we’re now building towards that life we want.
I didn’t know what I could do to boost my income. As a teacher I’m on a pretty fixed scale. And I never thought of a side hustle. But now I started to think. I went straight to the free resources (some especially helpful on Medium) and I looked for what I might be able to do.
I looked through all the lists of things I might be able to do and I realized with very little expense there were dozens of things I could do. It was then I learned about blogging and making money writing. And 18 months later I’m here writing a blog, I’ve finished draft one of my novel, planning e-books and courses, and generally feeling inspired and knowing I’m worth more and more each day.
Before I thought I had limited resources. I was unaware. Now I’m starting to feel limitless. Everyday I’m amazed by the wonders of the new technology that I used to think was way to complicated for me. But now I’m blogging, writing, pinning, sharing, and so on.
We have so many resources at our disposal that we don’t think about.
The most valuable are the ones inside us that most of don’t dare to try out.
What to do:
- Don’t look for limitations.
- Really look at where you want to go and see what you can access right now to take you a step closer to your dream.
- Find a path to get the resources you need to achieve your dream. (Right now I don’t have the skills and all the things I need, but I’m working step by step to get what I need.)
Use what you have. Get what you need. Go step-by-step until you finally get to where you want to be.
3 Master Investment in Time.
By far the biggest and most important lesson I learned in this book, was that time is hands-down the most valuable resource we all have.
We all have time and relatively the same amount of it. In fact we all have exactly 24 hours in the day. Though some are not able to access every hour and some chose not access many hours at all. Regardless, we are all born, and everything being equal, we have around 24 hours a day and approximately 80-90 years.
The Most Important Investment
The important thing for us all to remember is that how we use our time is really the most important thing.
No matter how rich we get, we still all have the same amount of time. No matter how clever, or handsome, or pretty, or funny we are, we all have only one lifetime to enjoy.
If you want to live a great life and be a real success, the most important resource you need to master is time.
There’s no point being rich if you spend all your valuable time working and worrying about money.
- Invest in resources that save you time: Such as a chainsaw instead of a handsaw.
- Become the boss: own your own time and products, and delegate the operations to trusted employees.
- Invest your capital in income generating assets: Such as stocks and property, so you can make money while you’re sitting on the beach in paradise.
These are the keys to becoming the master of time.
We can’t get more time. We all have the same hours and the same years. Maybe by living well we can earn a few more years.
However, if we invest wisely that time can be time spent living comfortably, free, happy, with the people we love and doing the great things we want to do.
If we don’t invest wisely, then time becomes time spent working, stressing, and living with the worry of bills, the future, wants and needs.
We decided we didn’t want to worry anymore. We want to life in a beautiful state and enjoy the good things in life.
So we’re investing our time now to create valuable investments that will free up all our time in the future.
This is map to living life on your terms.
The answer to becoming truly successful.
4 Chose investment over consumption
Lesson number 4 is the key to investing and becoming the master of money and time.
Save your money instead of spending it.
If you save your money and invest it, you can buy enough income creating assets so you never have to work again. If you spend all your money, it’s gone and you have to work to make more.
Worst still, if you spend more than you make, then you get stuck in debt. Then instead of making interest, you end up paying interest. Then you have to work more and more, to pay off an ever-growing debt.
Simple: save money and become free.
Become master of time and money.
5 Understand Return On Investment.
After lesson 4 teaches you to save and invest, the next lesson is to understand Return on Investment. Evaluate and understand the return you can realistically expect from investments.
You need to work out what value an investment potentially has. For example, if you invest in a new piece of technology to help you do your job faster, how much will it cost and how much will it generate? If you stand to make more, overall, then this is a good investment.
Compare rates of return
Also, know that if you invest your money in the bank you will get X% return on your investment. Know that if you invest in Bonds you can get Y% return on your money. Know that if you invest in stocks you can get a higher return than the bank and bonds.
Be aware of risk
However, you must also be aware of risk and learn how to calculate it. This will be covered down the track, but you can at least start to think about the likely return you can achieve and weigh it against the likely risk of loss and make balanced decisions about how to spend your valuable time and money.
Know the hidden costs
Also, be aware of the hidden costs. The big one is taxes and inflation. Everyone has to pay taxes and every dollar you have is subject to inflation. There’s no point making an investment if you are going to lose all your returns in extra taxes – so start to be aware of it.
And there’s no point investing your money in the bank at 3% interest if the inflation rate is 4%. You will actually find that the value of your money is going down, while you think it’s going up.
It was valuable insights like this that really woke me up to the value of investing and living with purpose.
If I want to have a big wonderful life in the future, then I can’t just work and save. If I just work and save, and pay taxes, and lose to inflation, then I get a very average future.
I want a big bright future, I need to know how much I need and invest to get it.
How you use your valuable resources will determine how well you live and the kind of future you will have.
The best way to achieve the best possible life you can achieve, and become a master of time and money and live with real purpose, is to allocate your valuable resources to the highest potential return you can find.
This is not easy, and this is an area I need to investigate further. (So watch this space.)
Investing with Purpose
Obviously, there’s a lot more to learn about Investing With Purpose, and I recommend you read Mark Aardsma’s book for yourself. However, at this early stage of my investment journey I think these are the big take away lessons that have got me to start living with purpose.
These rules have set me out on a path that will lead to living with purpose, investing and getting the life I want.
I have faith these lessons have me on the path towards true success.
I hope that sharing these lessons with you has helped you too to look at your life purpose. To look at how to become a master of your resources. A master of your time. In control of your money. And has shown you the value of investing. I genuinely hope this has inspired you to never stop living with purpose and to keep on striving for success.
To learn more valuable lessons about investing, see my article How to achieve Success: Follow the Rules for Investing.
Mission to Success
The mission is to achieve success. To take myself, my family and our life to our full capacity, whatever that may be. We’ve decided to get a bit more swag in our step and go for a higher level than we have right now. And then keep going until we can’t progress anymore.
If that’s something you want for your life, feel free to come join the mission for success by clicking here: Mission for Success!
All the best, and remember to keep striving for success.