One of the best investments an enterprising investor will ever make, is an education. It’s something that cannot be taken from you and will help improve your cashflow. I wanted to share a timeless resource offered by the Mises Institute.
Henry Hazlitt, in his book Thinking as a Science, offers a clear framework for reasoning. Of all the advantages you can bring to the workplace, negotiation, and life in general a clear ability to reason is the best. Though the book was written in 1916, its wisdom and application are without question every bit as valuable today as ever.
Our last post about how to save money articulates that consumers wants are insatiable. Further, knowing that resources are limited, you must allocate them appropriately. The real point here is about recognition, or “knowing” that consumers have insatiable wants and immediately applying that to yourself, because you too are a consumer… someone who buys things.
Much of the secret to financial success centers around psychology (coupled with methodology). It’s precisely the same for weight-loss or anything else that requires personal discipline. By learning and applying key distinctions, you can experience success you never thought possible. One of the distinctions to be made for young investors, is that you simply have to begin. The philosophy is best understood by a brief couplet attributed to Goethe (with help from the Scottish mountaineer W.H. Murray).