Do you know what the two biggest costs are in life?
Let’s start with the 2nd biggest cost in life:
Most are not aware but you’ll pay over 50% in taxes.
Here are the big ones:
And there are other taxes too.
Add these all up dependent on your situation and most people will end up over 50%.
BUT there is an even LARGER cost in life.
Regret happens when you don’t take action.
The opportunity costs far EXCEEDS taxes.
Bob is an average rep making $85K/year.
He never commits to invest in himself.
He averages $85k-100k/year for the next 5 years.
Life is good but not great..
Stacy is a top rep.
She invests in herself every year to upgrade her skills.
She averages $175k-250k+/year.
She’s making on average $75K+/year more than Bob.
That’s $375,000 more than Bob over 5 years.
That’s the MINIMUM opportunity cost incurred.
Add in that she has:
– Reduced stress
– More time with family
– Freedom of choice
And all that is PRICELESS.
Bob’s opportunity cost is ALL of the above.
The cost of REGRET.
Compounded each year.
So the next time you’re looking to invest in yourself, ask yourself what’s the bigger cost:
The investment or your opportunity cost?
Do you agree?