“The smartest investment we can make is an investment in ourselves.” -Warren Buffett.
A similar practice was followed by Warren’s partner, Charlie Munger. The first hour of his day as an attorney was spent on his #1 client — himself.
A decade into practicing this behavior, tallied up to more than a working year spent thinking and working on ways to improve his lot.
Investing in ourselves pays off.
That was a motivating example the first time I heard it so I’ve applied it myself:
I wake up early to get a few hours in for my blog. I prefer to do all my work before my 9-5 so by early I mean very early. As in, 4:30 AM early. It is crazy to most, but for now, it is the only way I can block off a full 3 hours each morning to write content for Distilled Dollar.
I’m receiving a lot of benefits from the site, so it has been a privilege to put in the time.
Playing-to-Win vs Playing-Not-to-Lose
I’m convinced this approach to investing in ourselves is the result of our focus on making money-instead of not-losing-money.
The sports analogy is: playing-to-win vs playing-not-to-lose.
Being overly afraid of losing money would have diminished our portfolio but hindsight is 20/20. Our approach to our finances as detailed in our Huffington Post article, came about as part of taking on risk.
Don’t get me wrong, focusing on not losing money is critical, but I’m convinced most of our time should be focused on creating value (aka making money).
Often, we focus so much on what’s not possible that we syphon time and energy away from making what is possible.
For more on this subject, check out this episode:
How are you investing in yourself?