Invest in human capital

When measured in terms of your lifetime earning capacity, your human capital is your most valuable asset, reminds Jerry A. Webman in MoneyShift: How to prosper from what you can't control (www.wiley.com). He, therefore, urges you to think about yourself as human capital and find ways to increase its value. “Your human capital is your principal means to provide for your needs and aspirations. It is also your means for creating and increasing your financial capital.” To achieve the highest value of your human capital, the author's recommendation is to augment technical knowledge with skills of critical analysis, problem-solving, and creative thinking. The much-maligned liberal arts – histories, social science, literature, fine arts – are the means to develop these skills, he notes. Along with an understanding of what are known as the STEM disciplines – science, technology, engineering, mathematics – you need proficiency in critical thinking, analysis, and problem solving, plus the ability to communicate with clarity and confidence, the book underlines. Also, “Digital literacy – indeed, fluency in digital media – will be a sine qua non of successful participation in the knowledge economy.”

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