What do you think is your most valuable asset? You might have 2 houses, 3 cars and investments in fixed deposits and mutual funds. But unless you are not at your best as possible, all the assets are not of much use to you. For example, if you are unwell, you will not be using your cars to go anywhere. If you have a stressed life where you are working 18 hours a day and are constantly frustrated trying to balance life and work, you will not have time to enjoy the returns from your investment.
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Another way to look at it is that if you do not improve yourself, you will be less valuable over a period of time. Just like the value of money falls over a period of time due to inflation, your value decreases with you growing older, being unaware of newer stuff in the world, people being younger and better skilled than you etc. You should strive to maintain the maximum value for yourself – this can be done in various ways –
Plan finances properly
You should plan your finances properly across various points or milestones in your life. At the start of your career, you should try to get a job that pays well and gives you a good head start in your career. Along the way in your profession, you should maximize your opportunities. You should try to get good roles in your career and a steady increase in your compensation package. You should maximize your tax deductions and other benefits. If you have your own business, you should constantly look at ways to expand, innovate and cut costs, without compromising on service levels and quality. At the same time, you should plan your finances to reach your retirement goals. When you near your retirement age, try to find some job/consultancy/activity in which you can earn income. It can be done at a slower pace or on a part-time basis such that your health is not affected negatively. This will keep you financially independent and will be mentally stimulating and you can stay away from negative thoughts, boredom and old age mind related health issues. This will ensure that you are at peace in your sunset years and have a relaxed lifestyle without worrying too much about finances.
Invest in Professional Development
It is important to develop yourself professionally. Today you might have a good job, meaty role with a great package and responsibilities. But this can change if you do not keep up with the demands and the changing trends of your industry and profession. You should update yourself, be aware of developments in your area of expertise and slowly and steadily expand your role and responsibilities. This will make you more valuable. Read: Money Vs Job Satisfaction
You have to insure yourself well. You should have Medical insurance so that medical emergencies are taken care of from a financial perspective. You should take disability insurance especially if you are in a risky profession or live in a disaster prone area. You should take term insurance so that you do not have to constantly worry about your loved ones in case you are not there with them. Right Insurance gives you financial relief as well as peace of mind.
You have to invest in improving different aspects of your life so that you remain valuable and can earn wealth and also enjoy the returns of your wealth. It is important to develop characteristics such as self discipline, self esteem, general awareness level, networking etc. Such characteristics add value to your personality and help you live a better life. Read: SmartPhones are making us dumb
Respect your body and mind
You have to treat your mental and physical health with respect. You have to give your body enough rest so that it remains healthy. You should give time for activities such that your mind is rejuvenated. You should keep your body fit. There are a host of activities that you can do like Yoga, Trekking etc. You should eat sensibly. You should keep some time for engaging in activities that you like or enjoy such as pursuing your hobbies, socializing or devoting time to social causes. As the proverb goes, ‘Prevention is better than cure’, it is better to work effectively towards having optimal health than trying to repair what is wrong. A healthy body and sound mind go a long way in managing problems and stress efficiently.
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It is important to treat yourself as an important asset as it will build resilience and confidence and you will be able to build a sound future. Must share what you feel about this & what you are doing to preserve human capital….