Throughout my life, I have always been very interested in a multitude of investments and I have found that many kids my age have either not been exposed to investing or have not seen the benefits of it. A major theme that I have seen in my own life, as well as my generation, is that we want freedom, whether that be freedom from authorities or financial freedom. During my pursuit of all forms of freedom, I have learned that financial freedom is a key pillar in the overall pursuit of freedom. While your monetary standing may not be the most important thing in life, it does allow people to make decisions that are based more on happiness rather than if it will seriously affect their bank account.
In this post, I am going to dive into the two types of investments that I have found the most intriguing and what sort of benefits they may provide for younger individuals.
No, I’m not talking about your typical traditional education where you sit in a rowed classroom and learn about theories from people who haven’t even experienced what they are ‘teaching’ (college). While college may be beneficial to some, such as doctors, lawyers, etc. it can only provide so much information regarding important facets of life. The type of education I am referring to is self-education. The Entrepreneur Jim Rohn says, “Formal education will make you a living; self-education will make you a fortune” Things such as books are a great self-education based investment. They offer a never-ending supply of personal and entrepreneurial experiences that authors provide through their writing, which in turn can possibly lead individuals to a better and more efficient life path. Another form of self-education can even be buying or attending a course that is geared towards a specific skill or interest. There are countless stories of individuals who have attributed their start to a course they attended or book they have read. Self-education is arguably the most important investment you can make and it is a necessary investment if you want to better your skill sets.
A more formal sense of the word investment could be associated with real estate. Self-education may not be something that is typically thought of when thinking about investments, but one thing that is always brought up in that conversation is real estate investing. A large portion of millionaires has been made through some sort of real estate investment, which comes as no surprise because real estate tends to be far more straightforward than other occupations or businesses. Young individuals who have just entered the workplace can use real estate as a way to generate a side income through a relatively simple strategy. They can buy up small homes or apartment units and rent them out to tenants which will allow them to collect a rent check every month. After expenses and mortgages are paid for, whatever the leftover income from that rent check can be directly deposited into your bank account. Of course, there is a lot of due diligence and research that needs to be done before you can invest in properties but as long as you self-educate yourself, there is no reason that real estate investment cannot become a long-term strategy for you.
Investing in yourself through education and investing in real estate are just two ways out of the many types of investments that can be undertaken. As long as you as a Millennial or Gen-Xer make rational and disciplined decisions, there are endless possibilities that can eventually allow you to attain financial freedom, furthermore, granting you freedom in all aspects of life.