Crazy Economony Got You Down? Invest in Yourself!

This article by the Stranger’s Jonathan Golob really hit home for me. Go read it, then come back here. Towards the end of his post, he gives some straightforward advice about investing where it really pays off, which I’ll quote here (bold emphasis is mine):

“Well, what does count as a safe investment, today? Let me consult the ancient Jewish secret for surviving and thriving in ineptly managed economies: Invest in your head, your health, your family and your community.

1. Invest in your Head or “What can I do that will cause someone to feed me?”
Learn a trade. Learn a language. Learn accounting. Learn the law. Learn how to cook and bake. Learn how to fix a leaking pipe. Learn how to entertain a crowd.

Take a class. Go to community college. Read a book. Use your savings and resources to fill your head will skills and knowledge. Until the moment of your death, nobody can take these from you. No inept or corrupt banker, no thieving politician, no political unrest. These become a part of you, and follow you wherever you go.

2. Invest in your health.

Now is a good time to go to the doctor. Get that lump checked out. Get that dental work done. Get your blood pressure down. [Get your spine checked, eat great food... DP]

These investments, also, retain their value no matter what the economy is doing.

3. Invest in your family.

To the extent you have a surplus, put it into your family members—helping them invest in their heads and their health. Having a strong team behind you vastly increases your chance of success.

4. Invest in your community.

The stronger, the more knowledgeable and the more healthy those around you are, the better your chance of weathering a crisis.

This might seem dire. Even if the predictions of economic doom are overblown, these sorts of investments help even when things are going great. During a real economic crisis—the sort of which not seen since our grandparents and great-grandparents struggled—these investments are essential. Even in the worst case, we have a few months and years to prepare. Start.”

My patients have shown me time and again that the advice in #2 pays off huge dividends, no matter your bank account. In the coming weeks and months I’ll try to incorporate all this advice into my life, and let you know how it goes. How about you?