The Best Investment I Ever Made

By Wayne Mulligan, on Thursday, November 17, 2016

We often write about the extraordinary returns you could make in early-stage investing.

And while investing in the private markets tends to be more profitable than investing in stocks, it’s not the most profitable investment I ever made.

Today, I want to tell you the story of my most profitable investment.

Hopefully, it’ll lead you to make similar investments—and lead you to similar returns.

My Track Record

Over the years, I’ve made many, many investments.

Some have done well, others not so much.

But overall, I’m squarely in the black.

Now, I could attribute my successful track record to my keen business acumen, or my deep insights into different industries and markets...

But that’s not the truth.

The truth is, I can trace back nearly all of my success to one specific investment.

It’s an investment I started making as a teenager, and it’s one I continue to make today.

And you know what? You could make the exact same investment right now.

You don’t need much money to do it.

And you don’t need any Wall Street or Silicon Valley connections.

All you need is a commitment to make this same investment, over and over again.

If you make this commitment, I can almost guarantee you’ll come out ahead.

Want to know what it is?

The Best Investment I Ever Made

The best investment I ever made was an investment in myself.

You see, when I was just a kid, I saw a news report about Bill Gates and Warren Buffett.

Most of the report was focused on their wealth, but the part that really stuck with me was about one of their daily habits. You see, they both claimed that this one habit was the key to their success.

This habit had nothing to do with cutting shrewd business deals or evaluating potential investments. Actually, it had nothing to do with business or money at all.

The habit they both claimed was essential to their success was reading. More specifically, reading at least one book every week.

This simple habit, they claimed, helped them build their knowledge, which in turn helped them become better businessmen.

So I decided to do the same thing.

What I found is that reading a book a week is a big time investment—and sometimes I can’t make it happen. But I still try, because I believe, like Buffett said, “That’s how knowledge works. It builds up, like compound interest.”

And I believe this investment I’ve made in myself over the course of many years is a critical part of my success.

Other Investments

But reading a book every week isn’t the only investment you can make in yourself.

Every year, I sign up for various conferences and workshops. Some of these events cost thousands of dollars, but I believe they’re worth it.

If I can walk away with just one new connection, or just one new insight into my life or business, I’ve recouped that cost many times over.

I also invest in online coursework. For example, when I launched my first online business, I purchased a course about how to write.

Now, I’m no Hemingway, but over the years, my writing has improved. It might even be one of the reasons I’ve been able to attract more than 100,000 subscribers to this newsletter you’re reading.

So no matter what that course cost, the investment was more than worth it.

Now let me ask you a question:

When’s the last time you invested in yourself?

When’s the last time you committed to reading a book a week?

Or took an online or offline course?

Or registered for a conference or workshop?

It doesn’t even matter if it’s directly related to your business or making money—but when’s the last time you invested in yourself?

Leave your answers in the comments. I’d love to hear from you.

An Investment You Can Make Today

Once you’re ready to make an investment in yourself, consider enhancing your knowledge and skills around investing.

For example, online courses from the folks at Investools and Lex Van Dam Trading Academy are great places to start if you’re interested in stocks and options.

If you’re interested in learning more about early-stage investing, we have a number of free educational videos and reports you can access on our resources page here »

We also have a premium course on early-stage investing that you can learn more about here »

And once you’re ready to make private equity a permanent part of your portfolio, you can look into our advanced stock screener for private companies, CrowdabilityIQ...

Or our in-depth research service, Private Market Profits.

Whether you enroll in one of these services, or simply decide to start reading more, as long as you’re investing in yourself, you’ll always get a positive return.

Happy investing.

Best Regards,
Wayne Mulligan
Wayne Mulligan


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Tags: Education Investing Warren Buffett

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