To understate the obvious, the current environment is pretty challenging.
With the stock market getting crushed, credit tightening, and the global economy flailing, I can see why many people have the urge to stash money in their mattress and hide away until this is all done. While I’m definitely more cautious about my spending, I also don’t want to give my entire life over to worrying about the recession. So, how to counteract the falling-sky syndrome? I’ve got a suggestion, if you’re not scared off by the word “investment”.
mortarboard on flickr
Investing is inherently risky, but a way to minimize that risk is to bet on what you know, and maybe even can control in some measure. (That’s called insider trading if you do it with companies, but it’s fine in this case.) Why not invest in yourself, and consider the option of going back to school?
Your education can’t be foreclosed upon or lost in the stock market. Furthermore, you know where your interests lie, what engages and inspires you, and how hard you’d be willing to work to achieve your goals. It’s not that risky to get your feet wet by taking a couple classes at the local community college, and then decide whether or not to go full steam ahead.
Why would you want to go back in the first place?
For those who are poised to graduate in the near future, additional education offers one of many ways to strengthen your position with potential employers. If you’re already in the workforce, gaining flexibility or changing career directions is a common reason for going back to school. You learn a new skillset, update your network, and position yourself for a host of new opportunities upon graduation.
While you’ll likely get more out of your chosen program if you’ve got a specific goal in mind, don’t lock yourself into too narrow of a focus– remember, college is for exploration, and you can always change your mind! Believe me, I’ve made a couple of big career-changing decisions which were by no means easy, but I realized that you don’t have to follow a conventional path in order to be happy.
What should I do when I’m there?
Going back to school doesn’t necessarily mean spending all day with your nose in a book. While we definitely need nurses, teachers, doctors and engineers, maybe you want to learn photography, or the art of the perfect tiramisu. Just pick something you’re interested in, since your level of engagement will determine how much you actually benefit from spending your time and money. I think my next project is going to be learning how to dance: I took swing classes in college and had a great time, but didn’t progress very far in the course of one semester.
So, what’s my return on investment?
The obvious rewards of learning something new are frequently eclipsed by the other benefits. Who doesn’t feel great after setting a goal, and overcoming challenges to reach it? You’ll make some new friends, have fascinating new stories to tell, and be one step closer to RTW nirvana. 
For even more savvy investors, think about the potential to transform your newfound skills into extra rewards. Oftentimes you can get cold, hard, cash for consulting, freelancing, or picking up part-time gigs.
Don’t forget that you can also pay it forward by volunteering to teach others what you’ve learned, by holding workshops at a community center, mentoring, or donating services for a fundraiser.
Hopefully this will take your mind off the economic worries for a while– anyone else planning to take up new hobbies or try something new?
