7 Things To Invest in 2023 ?

It’s that time of the year again! ?

I hope your 2022 was full of growth, learning, and success. But as we take off the new year, let's discuss what things we can focus more of our time on in 2023!

In this article, we’ll specifically talk about:

? 7 Crucial Aspects To Invest Time, Money, and Energy in 2023

? Action Steps For Each

? Bonus Advice on How To Get Flooded With More Opportunities

Let’s get started with the last article of 2022! ??

1- High-Income Skills:

Your 20s are a good starting time to start thinking about your career and how you can set yourself up for success. While success is a subjective term, financial freedom has a huge role to play in how successful your life plays out.?

But let’s be real. To be financially free, you need to have multiple streams of income and learning a high-income skillset can be one of them. These are skills that are in high demand, have low competition, and can lead to higher-paying opportunities than other skills.

Some examples of high-income skills include coding, data analysis, project management, and marketing & sales. These skills are all in high demand in the tech industry, which is a rapidly growing field. By learning these skills, you can position yourself as a valuable asset to companies and potentially earn a higher income too!

If you feel confused about where you should start then don’t worry, I made a guide that takes you through some of the major high-income skills of tomorrow! Click here to read more! ??

Action Steps: Read the guide to see what clicks with you and try to understand how your market and local industries work.

For example, I like service businesses better than physical-product businesses simply because you need lesser investment to start, it’s easily scalable, and you don’t have to be dependent on other people (like suppliers or creditors) to make a good living.

Make sure you study some of the major industries (tech, real estate, etc.) in your local and international market and how you can help fill their gaps with your skillset! ??

2- Personal Branding

Personal branding is about creating and promoting your unique identity in the market. It's all about communicating a consistent image and message that tells everyone:

1- Who you are

2- What you stand for

3- What problem are you solving in the world

In 2023, personal branding will grow more than ever. With the rise of TikTok, Twitter, and LinkedIn and the increasing importance of online presence, you can choose any platform(s) to grow your personal brand. In fact, we’re already living in a creator economy for quite some time. According to a study by Adobe, the creator economy has grown by over 165 million people globally in the last two years — a massive increase of 119%!?

Now the question is, how can you monetize your personal brand??

One trend that is driving the importance of personal branding is the gig economy. More and more people are working as freelancers or independent contractors, and their personal brand is often the only way they have to differentiate themselves from their competitors. A strong personal brand can make all the difference in attracting clients and building a successful career.

Whether you're just starting your career or you're an experienced professional, investing in your personal brand can help you achieve your goals and build a successful future. As we saw hundreds and thousands of layoffs and a continuing increase in unemployment, it’s safe to say that personal branding will keep you independent from relying on a single source of income.

Action Steps: Find out which market you want to offer services in, how you want to showcase yourself, and what platform you want to scale in. Make sure to choose only one platform for start off and then double down on what works best for you!?

3- Travel & Learn a New Language?

Travel as much as you can in your 20s! You need to get out of your little bubble and start understanding the world out there and challenge your perspectives and opinions about yourself and other people.

Learning a new language can be a challenging yet equally rewarding experience for many. It's important to learn new languages for a number of reasons, but one of the most convincing is the opportunity to travel and fully immerse yourself in a different culture!

When you know the language of a country you're visiting, you can have authentic conversations with locals, better understand the customs and traditions of the place you're in, and even try local cuisine that may not be available to tourists. That’s why learning a new language can be the best thing you can do to have a more lively travel experience! ??

But keeping travel aside, learning a new language can also broaden your job prospects and open up new career opportunities! In today's global economy, being bilingual or multilingual is an invaluable skill that can give you an edge in the job market. Plus, the process of learning a new language can help improve your memory, problem-solving skills, and overall cognitive ability. Even research shows that learning a new language can slow down your brain aging. How cool is that?

Action Step: Choose a travel destination and any language you want to learn in 2023 and set an aim for yourself. Do you want to have full proficiency in the language in a certain time period? You can also use apps like Duolingo & Lingvist to make learning easier! ??

4- Learn How To Budget Effectively

Budgeting effectively means understanding how much money you have coming in and going out each month. To start, make a list of all your regular monthly expenses, like rent, bills, and groceries. Then, subtract these costs from your income to see how much money you have left over. It's important to be realistic about your spending and to prioritize your needs over your wants to start off.

One helpful tip is to use a budgeting app or create a spreadsheet to track your expenses. This can help you see where your money is going and identify any areas where you can cut back. It's also a good idea to set aside some money for savings, in case of emergencies or for long-term goals. You can also use the 50-30-20 rule for budgeting mentioned in my personal finance guide here.

Remember, budgeting isn't about depriving yourself of the things you enjoy, it's about being mindful of your spending and making the most of your money! By creating a budget and sticking to it, you can gain control over your finances and set yourself up for financial success in the future.

Action Step: Make a spreadsheet (you can use a template from Google Sheets) and start recording all expenses there. After a month, see what you’ve spent the most money on and start cutting down from there!

5- Create Passive Income?

In this day and age, having a single source of income isn’t gonna work. You need to know how to make money while you sleep, and having multiple passive income sources is how you can truly achieve financial freedom!

To start off, the first thing you need to do is decide is what type of passive income you want to create. Do you want to invest in rental properties? Create an online course? or Sell a product on a recurring subscription basis??

Once you have a clear idea of what you want to do, you need to do some research and make a plan. This might involve finding the right market, learning about the industry, and setting clear goals for yourself. The key to creating a passive income effectively is to be consistent, patient, and always keep learning.?

Now I know all might sound too technical, but know that it’s a whole process. It’s important you break your income goals down and see where you stand! For example, if you want to see a course but don’t have an online audience, you can start by creating a personal brand and investing time in it for several months! If you manage to form an active community, you can start creating digital products and start selling them to earn a passive income!

Action Step: List down potential types of passive income you can generate. Which market is the easiest to enter? Start with that and create realistic, ambitious goals to start earning passively!

6- Take Care of Yourself

Every year we set these benchmarks and goals for ourselves that most of the times we don't achieve, and then feel dis-heartened, de-motivated or even burnt out! And that, in return effects our mental health and gets us stuck in a loop of "Am I not good enough? Am I not doing enough?" We're always taught to be kind and nice to those around us, and yes please continue to do that, but how about you be nice to yourself for once this year?

Set goals for improving your Physical and Mental health in 2023! Whether you want to start going to the gym, take up a competitive sport, make a routine to walk more everyday, start meditating or go on a hike every weekend to recharge in the nature! You do you but do something just for you! ?

There are many different types of sports to choose from, each with its own unique challenges and benefits. If you don't want to jump right into it solo, join a group or take friend with you and get involved in team sports like Football and Basketball etc.

One of the main reasons to take up a sport is the physical benefits. Engaging in regular physical activity can help improve your cardiovascular health, strengthen your muscles, and reduce the risk of various health conditions such as obesity and type 2 diabetes.

In addition to the physical benefits, participating in a competitive sport can also have a positive impact on your mental health. The sense of accomplishment that comes from training and competing can boost self-esteem, confidence, and makes you mentally stronger along the way! ??

Whether you're looking to improve your skills, want a healthy lifestyle, or simply enjoy the thrill of competition, there's a sport out there for everyone.

Action Step: Choose any sport you like and join a club for it. This can be a good way to socialise with other people and stay healthy along the way!?

7- Practice Gratitude ??

Now you might have already set your eyes on improving, growing, and becoming an unstoppable force for 2023, but I’ll go a little opposite and ask you to take a deep breath for now. As important as it is to strive for greatness, it’s equally as important to ground yourself in the present and be grateful for what you have!

Gratitude is an underrated practice. Studies show that it helps people combat depression, anxiety, and stress and makes you happier in the long run. In a world where it’s easy to envy others for what they have, it takes effort to pause your life and be thankful for all the conveniences you have compared to the rest of the world.?

It’s completely up to you how you want to practice gratitude. Journalling, praying, meditating, affirmations etc that’s for you to decide. But make sure you actively count your blessings like you count your daily steps and remind yourself of the privilege you have.???

BONUS: One Simple Strategy To Get Flooded With Opportunities

Succeeding in business & life requires you to have a good network, relationships, and work with passion in anything you do! Now hard work is completely in your domain, but how do you create a good network & meaningful relationships if you’re starting from 0?

Simple. Be PROACTIVE.?

Many of us live passively throughout our lives. We just ‘go with the flow’ and accept what life throws our way. While it’s important to not fight with the opportunities you have, it’s equally more important to be intentional with our lives and figure out what we want to do with the opportunities we get!

For example, being proactive in building a network would require you to attend business events, cold email investors or founders, reach out to your favorite entrepreneur, and engage with them on LinkedIn. All these actions are you taking control of your situation. It’s a simple recipe in theory, but difficult to execute! So, for all you lazy bums out there who keep on making excuses, follow the recipe above and see how it opens doors for you! ??

Action Step: Try to see what areas of your life you’re being passive in and think about how you can be more intentional & more proactive. Aim to be consistent and you’ll see opportunities knocking down your doorstep!?

Conclusion

Now marks the end of the year ‘ Investing at 25 ’ kicked off! I started this journey back in August to educate 20-29-year-olds on how they should invest their time, money, and energy to live a better & successful life in the future, and we’ve got great support already!

Today’s article was also inspired by the first-ever issue of Investing at 25: 7 Things To Invest in Your 20s. The journey started 4 months ago and we aren’t leaving any stone unturned to go big soon! Our team has major plans, events, and initiatives planned for you guys for 2023, so make sure to stay active in this journey to grow together!

Always remember to go at your own pace but make sure to push your limits as you go! These 7 aspects are surely life-changing, but if you start all at once, you’ll finish before you know it. Start with 2-3, double down on them, and then move forward with the rest! ??

Nonetheless, I hope 2023 is filled with love, happiness, success, and utmost growth for you and your loved ones. Make sure you continue to be the best version of yourself, I’ll always check up on you every week! ;)

Happy Holidays and a Happy New Year in advance! ??

P.S. I share tips, advice??, and insights on startups, financial freedom, personal development, and other similar topics every week. So make sure?you subscribe to this newsletter?and invest in yourself for a healthier, happier, and financially free future!?

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