5 Investments You Need To Make To Be Successful - Project Hot Mess (2024)

Success doesn’t just happen. It’s not like you wake up one day and all of a sudden you’re a great big success and everything you have ever wanted is right before you. Even those who seem to have ‘overnight success’ have actually been working in the background for quite some time to make that ‘overnight success’ happen.

Along the way, there are investments you need to make to be successful. This isn’t a ‘you have to spend money to make money’ kind of argument, although that is a valid point. This is more about the investments you need to make in order to position yourself for success.

1 – Invest In Yourself

Absolutely number one, you must invest in yourself. This can take shape in many forms but the main point is that you need to believe in yourself and trust in yourself enough that you are willing to invest in you.

Back yourself! If you don’t feel confident in yourself, then make the necessary changes so you do. Success doesn’t happen because you’ve focused on one aspect. That would be like trying to build a house on one stump. It’s not going to work. You need to focus on you as a whole. All the areas of your life and set the foundation of success with you.

2 – Invest Time

As we said before, success doesn’t just magically appear. You can’t expect to be successful by investing just one hour of your time a day – despite what remarkable claims some people make. It just doesn’t happen.

If you want to be successful, regardless of what field it is in, you need to invest the time into making it happen.

Look at professional athletes who are successful. Do you think they just spend one hour a day training? No! They spend hours upon hours each day, plus more time strategising and perfecting techniques, plus more time working on their mental focus and more time working on their health.

The focus on all the different areas, they understand each area needs a certain amount of time dedicated to it and they invest that time.

If you’re stretched at the moment, invest what time you can. And, as you are able to, start investing more and more. Just remember that it’s about the balance of time too. If the athlete spends too much time on their training and not enough on their mindset, then the balance is going to be off. The same goes for any type of success you’re trying to create.

3 – Invest in Education

We are always learning, that is how we grow. Our education never stops, there’s always more to learn and more to understand. Isn’t that ridiculously exciting? It makes me super excited.

By investing in your education, I don’t mean you have to go off to University and get another degree. You don’t even need to have ‘formal’ education. Investing in your education is investing the money, time and effort it takes you educate yourself on a topic or range of topics.

This can happen in many ways! You can listen to podcasts, read books, read eBooks, watch documentaries, watch YouTube tutorials, attend classes, attend workshops and conferences, hire a coach, hire a trainer… the possibilities are endless.

5 Investments You Need To Make To Be Successful - Project Hot Mess (1)

4 – Invest in Your Health

“When you have your health, you have everything. When you do not have your health, nothing else matters at all.” – Augusten Burroughs

When we start focusing on being successful in our jobs, in our businesses, as a family… one of the things that seems to be easy to drop off the focus list is your health. Maybe you stop going to the gym because you’d rather work on your business, your morning walk doesn’t seem as important as fulfilling client orders and you just eat whatever is available whenever it is available.

The little investments you make in your health now will pay off in the long run. With good health, exercise and good eating habits comes energy, stamina and higher mental clarity.

If you’re exercising right and eating well, you won’t have such a big 3pm slump that makes you want to fall asleep at your desk. If you’re sleeping well, you’ll feel more refreshed and focused rather than trying to work yourself to the bone to ‘get things done’.

It all comes back to our number one investment – you. You have to make the investment in your health, however that looks. Whether it’s your time, paying a personal trainer, paying a personal chef, educating yourself on what healthy is or simply taking the time to make it all happen each and every day, investing in your health is going to be a key element in not only becoming successful, but staying successful.

5 – Invest in Risks

Nothing great was ever achieved without some sort of risk. Do you think those who we look up to as being successful got there by playing safe? Colouring between the lines? Sticking to their own lane? No way. They took risks.

“Most everybody thinks that if I want to get big rewards I need to take huge risks. But if you keep thinking that, you’re gonna be broke.” – Tony Robbins

Tony Robbins explains that it’s not about taking the big giant risks that have a small chance of paying off, it’s about taking small calculated risks that give you the biggest reward.

While your big scary risk might be to quit your job to pursue your dream of running your own business, a smaller more manageable risk may be to cut your work hours down while you build your business up.

Risk doesn’t mean putting it all in,win or lose, it means moving outside of your comfort zone, bit by bit, stretching it that bit further so one day you’re at the point where you only dreamed you would be.

5 Investments You Need To Make To Be Successful - Project Hot Mess (2024)

FAQs

What is the most successful investment? ›

The U.S. stock market is considered to offer the highest investment returns over time. Higher returns, however, come with higher risk. Stock prices typically are more volatile than bond prices. Stock prices over shorter time periods are more volatile than stock prices over longer time periods.

What are the 5 steps they suggest to start investing? ›

  • Step 1: Set Clear Investment Goals. ...
  • Step 2: Determine How Much You Can Afford To Invest. ...
  • Step 3: Determine Your Tolerance for Risk. ...
  • Step 4: Determine Your Investing Style. ...
  • Choose an Investment Account. ...
  • Step 6: Fund Your Stock Account. ...
  • Step 7: Pick Your Stocks. ...
  • Learn, Monitor, Review.
May 20, 2024

What are the 7 key factors that are common to all investors? ›

Schwab's 7 Investing Principles
  • Establish a plan Current Section,
  • Start saving today.
  • Diversify your portfolio.
  • Minimize fees.
  • Protect against loss.
  • Rebalance regularly.
  • Ignore the noise.

What makes a project a good investment? ›

The profitability index divides the present value of a project's expected future income by its initial investment. According to the index, a project that has a calculation greater than one is a good investment. If the project has a calculation of less than one, it does not make financial sense.

What are the 4 main investments? ›

Bonds, stocks, mutual funds and exchange-traded funds, or ETFs, are four basic types of investment options.

What is the best investment? ›

Overview: Best investments in 2024
  1. High-yield savings accounts. Overview: A high-yield online savings account pays you interest on your cash balance. ...
  2. Long-term certificates of deposit. ...
  3. Long-term corporate bond funds. ...
  4. Dividend stock funds. ...
  5. Value stock funds. ...
  6. Small-cap stock funds. ...
  7. REIT index funds.

What is the 5 rule of investing? ›

This sort of five percent rule is a yardstick to help investors with diversification and risk management. Using this strategy, no more than 1/20th of an investor's portfolio would be tied to any single security. This protects against material losses should that single company perform poorly or become insolvent.

What investment is best for beginners? ›

Best ways for beginners to invest money
  • Stock market investments.
  • Real estate investments.
  • Mutual funds and ETFs.
  • Bonds and fixed-income investments.
  • High-yield savings accounts.
  • Peer-to-peer lending.
  • Start a business or invest in existing ones.
  • Investing in precious metals.

What are the 3 keys to investing? ›

3 keys: The foundations of investing
  • Create a tailored investment plan.
  • Invest at the right level of risk.
  • Manage your plan.

What is the golden rule of money? ›

Golden Rule #1: Don't spend more than you earn

Basic money management starts with this rule. If you always spend less than you earn, your finances will always be in good shape. Understand the difference between needs and wants, live within your income, and don't take on any unnecessary debt. Simples.

What is 5 factor investing? ›

We have identified five factors – value, quality, momentum, size, and minimum volatility – that have shown to be resilient across time, markets, asset classes, and have a strong economic rationale.

What are the golden rules of investment? ›

Keeping your portfolio diversified is important for reducing risk. Having your portfolio in only one or two stocks is unsafe, no matter how well they've performed for you. So experts advise spreading your investments around in a diversified portfolio.

How to make the project successful? ›

What are the ten project management tips?
  1. Foster clear and effective communication.
  2. Set clear goals for your project.
  3. Create a schedule.
  4. Use the right tools to monitor progress.
  5. Assemble a multi-skilled team.
  6. Motivate project team members.
  7. Identify and plan for risks.
  8. Identify and interact with key stakeholders.

What is the key to investment success? ›

Most successful investors start with low-risk diversified portfolios and gradually learn by doing. As investors gain greater knowledge over time, they become better suited to taking a more active stance in their portfolios.

Which investment has the highest returns? ›

Which investment gives high return? Investments in equity or equity-oriented instruments, such as stocks and equity mutual funds, typically offer high returns. However, they come with higher risk compared to fixed-income investments. Real estate and certain types of ULIPs can also offer high returns.

What type of investments make the most money? ›

1. Stocks. Almost everyone should own stocks or stock-based investments like exchange-traded funds (ETFs) and mutual funds (more on those in a bit). Stocks have consistently proven to be the best way for the average person to build wealth over the long term.

What is the safest investment with the highest return? ›

Here are the best low-risk investments in July 2024:
  • High-yield savings accounts.
  • Money market funds.
  • Short-term certificates of deposit.
  • Series I savings bonds.
  • Treasury bills, notes, bonds and TIPS.
  • Corporate bonds.
  • Dividend-paying stocks.
  • Preferred stocks.
Jul 15, 2024

Where to get 10 percent return on investment? ›

Investments That Can Potentially Return 10% or More
  • Growth Stocks. Growth stocks represent companies expected to grow at an above-average rate compared to other companies. ...
  • Real Estate. ...
  • Junk Bonds. ...
  • Index Funds and ETFs. ...
  • Options Trading. ...
  • Private Credit.
Jun 12, 2024

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