The best investment advice I ever received came from the woman I love. In 1979 I was just beginning my career as a speaker/comedian. I was young and…… what’s the word?…. stupid…yeah that’s it. I wanted to be a big shot.
I had a friend that invested in the commodities market. At lunch he would often excuse himself or ask the waiter to bring a phone so that he could talk to his broker. He seemed so powerful and sophisticated as he demanded that his broker buy soy beans or sell pork bellies. I wanted to be powerful and sophisticated and rich! So, against my wife Diane’s counsel, I bought a book, studied the commodities market and jumped in. It didn’t take long for me to lose thousands of dollars that I couldn’t afford to lose. I wanted to chase the losses but my wife insisted that we get out of this risky business.
One day she came into the kitchen and said, “If I could show you an investment that would return five hundred percent without risk, would you take it?” Thinking she had seen the light, I said, “Of course I would.” She threw one of the cassette tapes we sold at conferences onto the table. “You make these for $2 and sell them for $10,” she said. “Invest in yourself.” That’s the best investment advice I ever received. I encourage you to do the same.
Invest in yourself!