Weekly Money Moments with Catherine Morgan
This question was asked in my community last week and it got me thinking about a conversation I had been having with a client of mine.
“I have £100k, where shall I invest it?”
If I had any money to invest, I would ask myself the following questions:
- Where can I invest this money that will give me the best return on investment
- Where can I invest this money that will give me the best return on my time
- Where can I invest this money that will give me the best return on my freedom.
Let me give you an example.
Investing £2k in the stock market may give me a good return on investment assuming that I am able to leave it uninterrupted to grow with the ebbs and flows of the market. The stock market is just that. A market of companies who are growing with ups and downs along the way. I am investing in a share of this growth.
Investing £2k in growing my team would give me time to delegate more tasks out that I am spending my time on. This will free my time up to do something else. We should always be asking ourselves who not how! (Inspired by this book) Who can do this task?
Investing £2k in a mentor may enable you to create more freedom by helping you to create a strategy for your business to grow your income.
To grow your recurring revenue.
To grow your confidence to get out of your own way.
To grow your mindset so that you don’t self sabotage.
So the question to really ask yourself is….
What do you want the most?
Investment? Time? Freedom?
It is not linear either. One can feed the other.
PS: If you want to create more time and freedom, I have opened up 4 spaces to my Mastermind that starts in September 2021. Carol shared with me how she saved over £100k by being in my mastermind in the first 3 months of 2021. Listen to Carol here: Click to listen
Book a call with me here to discuss if this is right for you here