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When you first think about what investing means, options that come to mind may include stocks, bonds, real estate, or various retirement accounts. Classic and alternative investments are great places to invest your money, but what about investing in yourself? Some people give advice.
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Few people understand this better than Bill Gates, co-founder of Microsoft and one of the world’s most prominent advocates of lifelong learning. Gates has consistently emphasized the value of education as a foundation for success, personal growth, and social improvement. When asked about his personal financial advice for people making less than $100,000 a year, Gates simply said, “Invest in your education.”
True to his word, Gates not only advocates investing in his own education, but his foundation has spent more than $1 billion to put money back into public education. But when it comes to alternative investments, Gates knows that one of the best ways to grow your wealth is to increase your value first. Here are some reasons why Gates recommends that education is the first investment you should make.
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secure your future career
One of Gates’ central messages is the need to prepare for the future. Automation, artificial intelligence, and other technological changes are eliminating or transforming many traditional jobs. Gates argues that education provides individuals with the tools to adapt to these changes.
Continually improving your skill set through formal education, certifications, and even self-study will make you less susceptible to fluctuations in the job market. Staying ahead of these trends will help you maintain your standing in a competitive workplace. Gates emphasizes the geekiness of education. He once quipped: “If your culture doesn’t like nerds, you’re in real trouble.”
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Personal growth and wealth growth
Beyond professional success, Gates emphasizes the role of education in personal growth. Learning helps people understand the world, develop empathy, and improve critical thinking skills. This growth will enable individuals to make informed decisions and engage in meaningful discussions about global issues such as climate change, health care, and social justice.
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Gates himself is a lifelong learner. After retiring from his day-to-day job at Microsoft, he continues to read widely on topics such as history, science, and global health. He once said: “I had so many dreams when I was a kid, and I think a lot of them were nurtured by the fact that I had the opportunity to read so many books.”
education is the foundation
Gates has long emphasized the role of education in breaking the cycle of poverty. He believes that a strong educational foundation is essential for economic mobility, providing individuals with the opportunity to improve their living conditions and access better employment opportunities. Gates and his foundation have invested heavily in education initiatives around the world.
“In the long run, human capital will be the main basis of competition,” he once said. “A leading indicator of where you will be 20 years from now is how well you are doing in the education system.”
Lifelong learning is the key to staying competitive
Gates is a big supporter of lifelong learning and believes it is essential in today’s fast-paced, technology-driven world. In the digital age, where information is more accessible than ever, Gates encourages people to take advantage of the vast array of online courses and educational platforms.
He has frequently emphasized the importance of remaining curious and willing to learn new skills even after completing formal education. This mindset keeps you competitive in the job market and allows you to grow personally and intellectually throughout your life.
Gates says: “I strongly believe that tools that enhance communication will have a huge impact on how people can learn from each other and how they can achieve the freedom of their interests.”
final take to go
Gates’ message is clear. Investing in your education is one of the most powerful tools you have for building a successful, fulfilling, and meaningful life. Whether you’re just starting your career or already established, the pursuit of knowledge is one of the smartest investments you can make.
As Gates likes to say, “I believe that if you show people a problem and show them a solution, they will take action.”
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This article originally appeared on GOBankingRates.com: Bill Gates recommends overlooked investments if your revenue is less than $100,000
