As the old saying goes, you can’t take it with you when you die. That means that if you want to leave something behind for your loved ones and the world at large, you need to invest some of your money, so it grows and gains value over time. If you don’t have the time or energy to research investments, these are the seven most likely to get you great returns on your investment (ROI).
1. Invest in high-quality food
When it comes to eating, never skimp on quality. You may feel better and healthier after making smart food choices, but high-quality ingredients come with a cost.
Ultimately, you’ll feel more satisfied and energized when you invest in high-quality food over junk food. Better nutrition means better health and lower health care costs down the road, too. What do you have to lose?
The way you eat — not just what you eat — matters. Eat cheap food, and you’ll probably feel lousy, physically. Pay more for better ingredients, and your body will thank you in more ways than one.
Investing in high-quality food gives you peace of mind about what’s going into your body, as well as a feeling of overall wellness that translates to everything else in life. How?
We make dozens of investments every day. Some big, some small. They all matter; they all add up over time to build or break your life. You will not regret investing in something as important as your health and vitality.
That doesn’t mean you need to buy organic produce from far-flung farms, but it does mean taking a hard look at what you eat and drink on a daily basis: if you’re eating fast food or convenience foods, you will almost certainly regret it.
2. Ask lots of questions
Smart investors ask lots of questions. When you’re buying stocks or opening a new brokerage account, understanding what you’re getting into is critical. But most people don’t take advantage of good information about investments.
And instead rely on ads, tips from friends and family, or advice from someone who doesn’t really know what they are talking about. Don’t rely on secondhand knowledge when you can learn more for yourself by asking lots of questions.
The Internet offers hundreds of resources to help you learn more about every aspect of investing — from how to open your first brokerage account to how to start evaluating companies as potential investments. Take advantage! It’s easy, and it’ll never cost you a penny in commissions.
When is a good time to start making investments in yourself? When will your kids never be too old to benefit from it? How can you make sure that you’re investing wisely and not being careless with your money?
Questions like these will help you make better investments, both financially and personally. The answer might not always be immediate, but as long as you can think of an example when, then you’ll never regret making that investment.
Before you buy anything, ask yourself if it’s really necessary.
3. Invest in meaningful relationships,
But when you look back on your life and realize what was really important, you’ll see that meaningful relationships were at or near the top of your list. Without friends and family in your life, it’s difficult to truly enjoy all that life has to offer.
Be selective about who you spend time with — and make sure those people know how important they are to you. Life is too short to be caught up in the drama (that’s why we recommend forming genuine friendships instead of surrounding yourself with those who constantly complain).
You will never regret investing in healthy relationships. Healthy, supportive relationships provide us with a sense of purpose and strength. These people can also be there for you when times get tough and provide a helpful support system when you need them most.
At their best, these friendships are positive influences that help us to realize our full potential as individuals; they’re invaluable assets worth making time for every day.
The best investment you can make is in building meaningful relationships. It’s true that cash is fungible — you can always get more — but there’s no trade-in for a great friend or colleague or lover.
When you invest your time and energy in nurturing great connections, you will enjoy a well of resources you can call on forever.
People will help you out when you need it, and they’ll be happier to do so because they know how important your friendship is to them.
4. Volunteer your time,
Volunteer work is a great way to meet people and do good in your community. Although it might be hard to find time for a volunteer job, it’s an investment that could really pay off. In addition to keeping you connected with other members of your community.
Volunteering can help you advance professionally by giving you access to people who share similar interests or values.
Make sure to find a volunteer opportunity that aligns with your long-term goals and gives you skills or connections that are applicable in your career.
While some organizations like Habitat for Humanity have a reputation for being purely altruistic, many also offer mentorship programs where volunteers are paired with experts who can teach them new skills while they work — potentially leading to connections or even jobs down the road.
Time is finite, and we all have 24 hours in a day. Donating your time to a charitable cause or organization is one of those investments that will always pay off in dividends for your mind, body, and soul.
It gives you an opportunity to give back to your community and be a part of something bigger than yourself.
In addition, helping other people will make you feel fulfilled, which can actually help reduce stress — which is associated with many health issues like heart disease — and boost your mood.
Volunteering your time to a cause you believe in can not only be enjoyable, but is also a great way to give back and feel like you’re making a difference.
5. Improve your health
Without a doubt, improving your health is one of your greatest investments. A healthier body will provide you with more energy, keep you active and independent for longer, and reduce medical bills in old age.
If you look after your health now, it’ll help ensure a long, happy life. And if something does happen to reduce your quality of life or ability to function as an adult, planning ahead can make it much easier to bounce back and maintain independence.
It’s not worth putting off: start investing in better health today! If you are not happy with your health, it can easily spill over into other areas of your life. But don’t be discouraged; improving your overall well-being doesn’t have to be painful or costly.
Commit to a small amount of time and resources per week, and you will see results before you know it. It’s never too late to turn things around, even if you don’t feel like you have a solid grasp on how to improve yourself right now.
Spend money on your health and wellness. If you work out, buy better gear to help you do it. If you go for hikes, buy better shoes.
When it comes to your body and mind, don’t cheap out; invest in something that will give back to you over time, even if it means sacrificing in other areas of your life.
6. Educate yourself constantly,
The more you know, the better equipped you’ll be to make wise decisions. Although it might seem like a daunting task to take on at first, reading and learning from experts is an invaluable way to learn about how to handle your money.
Pick up a book, check out a documentary or take an online course — the more tools in your toolbox, the more prepared you’ll be for making money-smart choices. Here are some of our favorites:
The Millionaire Next Door, Goodwill Hunting, How Rich People Think, and What Is Your Money Personality? And if none of those quite fit what you’re looking for, just Google how to invest [insert type of investment here].
Trust us; there’s no shortage of educational material out there! I believe that knowledge is power. The best way to get what you want in life is to become someone who deserves it.
That means working on yourself by gaining new skills, continually learning and educating yourself, and striving to build a body of work.
Although it may not happen overnight, those who are constantly investing in themselves will be more likely to succeed than those who aren’t making similar investments.
There’s never a dull moment in life if you don’t let it be that way. The most successful people are constantly pushing themselves to learn something new.
You might think you know everything there is to know about your industry or trade, but chances are, there’s still plenty of knowledge out there for you to gain access to.
7. Spend on experiences, not stuff,
Material things like furniture and clothes depreciate, which means you’ll lose a significant portion of your investment over time. For example, if you invest $5,000 in a car, it will be worth only about $2,000 when you sell it five years later.
But spend that same $5,000 on travel experiences or education, and they will give value to your life for many years to come. Experience-based purchases are more than just an investment — they are an investment in yourself and what matters most to you.
Research shows that humans experience greater happiness when they spend money on memorable experiences instead of material possessions. An investment in experiences — such as travel, concerts, or even a class — could pay off exponentially over time.
As Harvard Business School professor Michael Norton explains, Money gives us more choices in life. But with those choices come additional challenges: How will we trade off work and family? Where should we live? What kind of car should we drive?
Material goods will inevitably depreciate over time, but experiences — whether they be trips abroad or nights out with friends — will enrich your life forever. Spending on experiences is a great way to invest in yourself and your future.
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