Tuesday, April 26, 2016

You are the most important person in your world

And don't let anyone tell you otherwise.  No, this is not a feel good Pinterest quote for the down and out, it is one of those self-evident life truths.  The only person who can make change in your life is yourself.  The only person that you can truly rely on, is yourself, and so this brings us to our seventh lesson from George Samuel Clason's "The Richest Man in Babylon".

Lesson 7: Invest in yourself

As pointed out in Lesson 4: Insure Yourself (Life is a game of Russian roulette, Feb 15 2016), your biggest asset is you, and so it makes sense that you invest in your own wellbeing and potential.  This can be interpreted in many ways, and we hear it often.  Invest in your health by eating well and exercising.  Invest in your own sanity by taking time for yourself, whether this is reading a book, getting a massage or spending time with your friends.

Financially, the best way to increase your earning power is to invest in your own potential.  For instance, I am currently studying for my Masters of Financial Planning.  At first, I was resistant to the idea, after all, I have been in the industry for over 10 years, I hold a Bachelor's degree in International Business, a Diploma of Financial Services (Financial Planning) as well as various specific qualifications such as in SMSF and Aged Care.  Other than complying with the change in licensing regulations and a nice tax deduction, what could the Masters possibly bring me?

I am now onto my second subject (of eight), and have completely changed my tune.  As far as financial planning strategy goes, I doubt that this course will bring anything new to the table.  What it does do (so far), is make me delve deeper into the mechanics that go into business, such as the overall business plan, the marketing and the general approach to networking.  This will help me work more efficiently in my role as well as provide direction to my small business clients, which is a value add to them, and will make me a better financial planner overall.  This should, in theory, increase my earning power.

So, take the time to unlearn, learn and relearn.  If you are working at capacity and have hit your earnings limit, it may be time to work smarter rather than harder.  Take the time to improve your skill set, because it doesn't matter where you are employed, you own those qualifications and, as they say, knowledge is power.
By Erin Wright B.Int Bus Dip. FS(FP), Accredited Aged Care Specialist
Find Erin at Achieveit Financial Planning or call for an appointment on 07 4638 5011

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