The power of non-monetary investments (2026)

Saving money on power non monetary investments does not have to be complicated. We rounded up the essentials so you can spend less and skip the guesswork.

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• The power of non-monetary investments Written by Jordan Grumet | Published: 02 August 2022 - Updated: 09 December 2024 | 2 comments 49 share...
• This passage has been edited to be more readable on the web.
• I used to have a patient who was an undertaker.

The power of non-monetary investments Written by Jordan Grumet | Published: 02 August 2022 - Updated: 09 December 2024 | 2 comments 49 shares

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The following is from Taking Stock by Jordan Grumet with permission from Ulysses Press. Copyright © 2022 by Jordan Grumet. This passage has been edited to be more readable on the web.

I used to have a patient who was an undertaker. We had numerous conversations about philosophy and practicality, and it didn’t take long for me to realize that one must gain profound insights from being engaged in such a unique business. As I was frequently fond of saying: When the undertaker speaks, you should really listen.

Those of us who have made death and dying our business may seem unlikely investment advisers, but because both the undertaker and myself have spent extensive time in close proximity to mortality, we’ve been given unique insight into what’s really worth investing in. What investing tips could someone in my line of business have gleaned from dealing with death and dying? Believe it or not, a few quickly come to mind.

These tips weren’t learned by accompanying the wealthy through this difficult journey , although the wealthy have much to teach. These tips weren’t siphoned off of the personal books of those who had little interest left in hiding their secret ingredients to success. These are simple, straightforward bits of knowledge gained from walking down this lonely path with those reluctant to be making the journey.

And believe it or not, most of what I learned about investing has nothing to do with money.

Invest in Yourself

Personal investment comes in numerous forms. Chief among these is self-forgiveness.

Remorse is common in humans of all stripes , living and dying , and its effects can be devastating. The specifics may vary: an action taken or not taken, a relationship salvaged or destroyed, or an object bought or sold. The human capacity to blame oneself is unlimited. We spend endless amounts of time feeling bad about things we wish we had done better.

While self-blame serves the purpose of introspection and improving future outcomes, it frequently leaves a path of destruction it its wake. It’s hard to look forward when you are constantly looking back. The key appears to be changing what we can change and forgiving ourselves for the rest.

Losing his job was the least of Gerald’s regrets. Decades before being diagnosed with cirrhosis (chronic liver disease), his exit from corporate America set off a series of events that ended in alcoholism. His marriage fell apart, and he quickly became estranged from his ex-wife and his daughter, Sandy. While sobriety and eventual employment were recoverable, the damage he had done to his body was not. Neither was the estrangement with Sandy.

A large part of the life review process was spent with the social worker exploring his feelings surrounding the loss of his daughter. Gerald eventually was able to find a modicum of peace and forgive himself. He also realized that if this self-forgiveness had been granted earlier, he might have been able to quit alcohol long before his liver became so damaged.

• What have you been unwilling to forgive yourself for?
• What damage is this unwillingness inflicting?

Another common way we invest in ourselves is by slowing down. Frequently, we have big audacious goals and want to reach them immediately. Yet , as in the story of the turtle and the hare , slow incremental gain is what lets you us win the race. If we can make progress toward a major goal by just one percent per month, we’ll have phenomenal annual returns over the long run. This principle applies to a skill, a relationship, or just about anything we strive toward. We mustn’t allow our limiting beliefs to hold us back.

We also need to invest in experiences. Experience compounds over time, just as our monetary assets do. As we learn and grow, we hone skills that make us better employees as well as people. Ask anyone who has risen through the ranks to become CEO of a company. Just like Ben Franklin’s compounding investments, growth in the workplace is anything but linear; it grows exponentially.

And if we are going to talk about investing in ourselves, we would be remiss if we didn’t mention education.

Invest in Education

While there’s no question that I’ve benefited from an expensive four-year college education, there are so numerous different ways to educate yourself nowadays , read, discuss, take online courses, debate until your face is blue and you walk out of the room disgusted. The world is full of teachers, excellent and small.

Knowledge is the emergency fund in which you shield your happiness. When all other resources are exhausted, your knowledge will help you secure a job, build a shelter, or make the right decisions at the most critical moments. Don’t skimp on self-improvement, and don’t be afraid to pay for it. The money you spend on education will compound in the form of knowledge and skills.

Say yes , even when you don’t want to. Open yourself to other people’s requests, and jump into an activity that feels foreign or uncomfortable.

The only way to gain knowledge or discover new passions is to be willing to explore. Not only will you be exposed to exciting opportunities, but you’ll also build stronger relationships with those to whom you say yes. Always have your bags packed.

Don’t be afraid to learn new things. I’m continuously surprised by how resistant the average person is to learn about basic finance. Most experts suggest that a few hours of reading each month will make you totally financially competent. Yet the preconceived notion that the subject is too difficult scares numerous away; don’t let it.

I have watched countless patients die with a book on their nightstand or an unfinished argument circling their brain. This is not sad or trivial. Even those who are dying wake up every morning with a plan for how they will spend each day. Make sure you allow room for acquiring new knowledge. Inquisitive people tend to die as they live: happy and full of questions.

Invest in Other People

The one measure of a person (rich or poor, happy or sad) is in the people whom the person leaves behind. I can think of no greater indicator of success. I know instantly when I walk into the room of a dying patient whether they have invested in other people. They are surrounded by pictures, letters, cards, and friends.

In fact, I typically know who the successful investors are before I even reach the hospital room. There are people walking in and out; noise and laughter peal through the otherwise somber hallways. Smiles and tears celebrate the bittersweet confluence of life and death.

If you invest in people, the compound interest will multiply into a lifetime of love and happiness. Long after you’re gone, your essence will survive in the smile on the lips of those who shared in your asset allocation.

It took me years to understand this tip. I stumbled about as a doctor looking to find my people in the midst of a community that didn’t fit me. It was only after I discovered writing and podcasting in the personal finance realm that I was able to connect with people who understand me.

These connections have made all the difference; they

Final Thoughts

The bottom line: a little research on power non monetary investments goes a long way. Compare your options, watch for seasonal offers, and never pay full price when a better deal is one click away.

Originally published at getrichslowly.org.