Money Can't Buy You Talent

In investing, you can't earn high returns without taking risks.

If making 10% a year were easy and risk-free, everyone would do it.

But what about investing in ourselves?

I've been thinking a lot about money lately.

Specifically, whether money motivates us to develop our talents—or actually gets in the way.

As a teenager, I lived on an allowance.

I hated the constraints.

I couldn't buy everything my friends could.

But those constraints taught me how to make decisions,

how to prioritize, and eventually,

how to become good with money.

What I didn't understand then was that constraints can be a gift.

I recently paid $800 to take a writing class. I've been writing for five years, but somehow paying for this class has me waking up at 5:30 a.m.,

sitting down with my laptop, and

doing the work.

I'm putting my money where my mouth is.

Not because I expect to make money writing.

But because I want to develop a talent.

Which brings me to my daughter.

She has a beautiful singing voice, and she is also a writer.

But I think she's afraid she won't make enough money as a creative to support herself.

And I wonder, have I taught her too well?

I've spent years teaching my kids to be financially independent.

But am I now allowing the fear of not making money to get in the way of developing something extraordinary?

My variant view is that the secret to happiness in a capitalist society isn't making more money. It's developing talents that make you valuable to others.

- You can't buy talent.

- You have to invest in it.

- And like investing, there are no guaranteed returns.

- You don't know what the payoff will be, but

- you take the risk anyway.

At 54, I'm trying to discover my own alpha as a writer.

I have no idea where this will lead.

This morning, someone posted a beautiful photo of Hawaii on Instagram and called Maui her happy place.

I looked around at mine.

It's 6:00 a.m.

I'm sitting with my coffee, my laptop, and my sleeping brown dog, Holly, next to me.

It's still dark outside.

But I can see the light.

And this is my happy place.

Keep investing in our talents even if you don't know the return just yet.

Disclosure: For informational purposes only. This material reflects general views and is not individualized investment, legal, or tax advice. Investing involves risk, including possible loss of principal. Wealth Engagement LLC is an SEC-registered investment adviser; registration does not imply a particular level of skill or training.