"Your career is the engine of your wealth." - How this investment helps you achieve financial freedom

Wednesday: The Independent Investor FROM THE DESK OF MILES EVERSON: I believe investing is an important financial activity that every human being must learn. Whether you’re a freelancer, business owner, marketer, communicator―whatever your profession is―knowing how to invest smartly will help you achieve financial freedom and generate great returns. In today’s article, I would like to focus on the first step towards achieving financial freedom as discussed by Valens Research’s President and CEO, Professor Joel Litman, in his “Build Your Financial Future” webinar: Make money. Keep reading below to know the biggest money maker that will help fund all your great investments in the future. CEO, MBO Partners Chairman of the Advisory Board, The I Institute

"Your career is the engine of your wealth." - How this investment helps you achieve financial freedom Warren Buffett, one of the greatest investors in the world, said there are 2 rules of investing. Rule #1: Don’t lose money. He states this is an important asset of every investor, independent contractor, consultant, business owner, etc. Any ideas on what rule #2 is? Take a guess from the choices below: Think like an owner Choose equities over bonds Be market savvy Don’t lose money Have you chosen an answer? According to Buffett, the second rule of investing is… “D” = Don’t lose money! Yes, Buffett’s second rule is to never forget rule #1 because he believes money is the first thing you have to start out with and the most important asset to consider in investing. --- In the “Build Your Financial Future” webinar, Professor Joel Litman, President and CEO of Valens Research, talked about these rules of investing and how crucial these insights are towards achieving financial freedom. One of the things he mentioned is the biggest money maker that you have: Your job. According to him, your job is the number one source of income that funds all the great investments you can make. He said, “If we don’t have that (job) and think of that as a source of funding, we lose on what is probably the biggest asset class that we have.” In other words… Invest in your career because it is the engine of your wealth! Below are a few tips to effectively invest in your career: Invest in yourself. Identify your natural strengths that allow you to boost your skill sets and capabilities. For example: If you’re a good negotiator, never assume that this particular strength doesn’t need fine tuning. Take training and coaching classes that will help you further improve in this area. The goal is to find happiness in your career and work by fueling your strengths and passion. Invest in intelligence and know-how. NEVER. STOP. LEARNING. You can achieve this by investing your time to acquire the right intelligence and know-how to accelerate your career. Be proactive. Know the goals the industry you’re serving aims to achieve and analyze how you can contribute to the achievement of those objectives. These will help you stand out in your industry or chosen field. Invest in the right networking. Network properly and wisely. Your networking skills should be viewed as a professional development boot camp. Connect with the right people. Nurture your relationships with them. Who knows? They might also be the ones to give you reliable advice in your investment decisions and help you move one step closer towards achieving financial freedom. Going back to Professor Litman’s webinar… Another thing he emphasized is you have to discount whatever trading strategy, stock tips, Bitcoin, crypto currency, and FX (Forex) advice you hear if they mess with your job performance or disrupt your work entirely (unless you’re in the finance or accounting industry that requires all those strategies, tips, and trends). For example: Professor Litman mentioned that one of the issues he observes from some people is that they spend 4 hours a day studying Bitcoin. The thing is, a lot of Bitcoin millionaires aren’t actually investors. They are hard core programmers who are mining Bitcoin in the early days. So, how are those people who spend 4 hours a day studying Bitcoin going to understand what’s behind that asset class? The millionaires they’re trying to catch up with don’t even have enough background in investing! As Professor Litman said, unless they know how to mine Bitcoin, these people won’t easily get the hang of this digital currency. That’s why he emphasizes the importance of focusing on your career as the biggest money maker. Besides, valuing your job is sustainable in the long run. Aside from being easy to master and handle, this brings in a constant source of income, which you can use to make wise investments in the future. — Being happy in your job and personal life is an important foundation to achieve financial freedom. This helps you to stay motivated, stick to your plan, and reduce rash spending. [Financial Freedom: The status of having enough income to pay one’s living expenses without having to be employed or dependent on others.] As early as now, clarify your goals and motivations, enjoy your work, and have a positive mindset that you can achieve your financial goals. Once you’ve reached the age of retirement, you’ll thank yourself for focusing on your career―whether as an executive, manager, marketer, independent contractor, consultant, etc.. Wouldn’t it be great to be financially independent someday? We bet you’d want that, too! So, always remember the first step towards achieving financial freedom: Make money… and make money through your career. We’re not saying you shouldn’t try other trading or investment strategies. Sure, they’re great too, but what we mean is your job should be your biggest money maker. Stay tuned for the next important step towards achieving financial freedom! Hope you’ve found this week’s insights interesting and helpful. Follow us on LinkedIn.     Stay tuned for next Wednesday’s The Independent Investor! Rest, particularly sleep, plays an important role in our bodies’ cognitive functions such as processing and retaining memories and new information. Learn more about the impacts of sleep on investment in next week’s article!