(Image credit: Getty Images)At the start of a new year, many of us set resolutions to improve areas such as our finances, health or daily routines. While these are valuable goals, it’s also important to think beyond short-term changes and invest in deeper, more transformative growth — like building new skills, advancing our careers or nurturing our personal well-being. These types of investments often have a lasting impact, yielding both tangible rewards, such as career advancement, and intangible ones, such as greater fulfillment and balance.Early in my career, I learned that self-investment isn’t a luxury; it’s a necessity. Whether it’s obtaining a certification, developing leadership skills or committing to restorative practices like yoga or meditation, these efforts often pay off in ways that extend far beyond the dollar amount attached.The tangible payoffWhen clients consider professional development, they often ask, “How can I balance investing in myself with my other financial priorities?” My advice is to view self-investment as an investment, not an expense. The potential return on earning an MBA, learning a new language or improving your public speaking skills is measurable. A higher salary or promotion can provide a return that compounds over decades.Subscribe to Kiplinger’s Personal FinanceBe a smarter, better informed investor.
Save up to 74%
Sign up for Kiplinger’s Free E-NewslettersProfit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more – straight to your e-mail.Profit and prosper with the best of expert advice – straight to your e-mail.Take my client Molly, for example. She was working as a banker in Cleveland when she decided to pursue a CPA designation and move to California. At first, she hesitated and considered focusing on paying off student loans before making the leap. Together, we reevaluated her situation, measuring her skills and earning potential rather than just her debts.With that mindset shift, Molly and her husband made the move, and it paid off. She took a job at a CPA firm, worked hard and recently made partner. Molly’s story shows how prioritizing self-investment — despite challenges — can lead to both professional success and personal fulfillment.The intangible rewardsNot all investments show up on a spreadsheet. Personal growth activities, such as volunteering, mentoring or simply taking the time to rest and recharge, can profoundly impact our mental clarity and overall productivity. Time spent hiking, journaling or teaching a younger colleague doesn’t have a direct financial ROI, but it can enhance your quality of life, strengthen relationships and build resilience.Giving back through mentoring or volunteering is particularly powerful. When you share your expertise or time with others, you often gain new perspectives, expand your network and deepen your sense of purpose. Similarly, seeking mentorship or becoming a student of a new sk
