Welcome back to another episode of the BetterWealth Podcast! I'm here with Harry Stout, and we're in a series called "Intentional Money Matters," where we explore incredible segments that challenge your perspectives on money and wealth. In our last episode, we discussed the cash flow killers for 2022 and the ripple effect they're having on our financial lives.

Why Investing in Yourself is Crucial

Many wealthy people have accumulated their wealth through their skill set. Those who are thriving have made massive investments in themselves — through time, coaching, and continuous learning. It's essential to make personal development a part of your investment strategy.

Your Greatest Asset: Yourself

2022 offers a unique opportunity to invest in yourself. Protecting and investing in yourself can be transformative, and understanding this can yield compounding benefits in the future.

Educational Insights

• Make sure you have a sellable skill set. In today's world, having practical skills is more valuable than just having a degree.
• There's a high demand for certain skills. Determine whether the skill set you're acquiring is in demand.
• Consider professional occupational training. Not everyone needs to go to college; training like plumbing can lead to successful careers.

Strategies for Skill Development

Reskilling vs. Upskilling

Understanding the distinction between these two can help you navigate your career path more effectively:

1. Reskilling: Learning new skills for a different occupation when your current job becomes obsolete.
2. Upskilling: Enhancing existing skills to become more valuable in your current field.

Practical Steps to Invest in Yourself

1. Allocate Time: Dedicate at least an hour a day to learning and self-improvement.
2. Set Aside Money: Save funds to pay for further education or training programs when needed.
3. Self-Directed Learning: Use available resources such as podcasts, online courses, and books.

The Power of Intentional Investment

Making intentional investments in your skill set can dramatically enhance your value over time. Majority of successful individuals have done this, and you should consider it as a part of your broader investment strategy.

In conclusion, the actions you take to invest in yourself are within your control and can lead to significant returns in your professional and personal life.

We hope this episode challenges you to think differently about investing in yourself and your abilities. Stay tuned for more insightful episodes from the BetterWealth Podcast!