Tuesday, November 25, 2014

Is it really worth the risk?

Is it really worth the risk?

Would you agree with me if I said everything in life worth having involves taking some kind of risk?
Everything we decide to go after in our lives has some level of risk involved in order to achieve what we want.
Taking risks of course can be scary, but the risk of doing nothing is worse.
The outcome is never certain but the rewards can be great.
Without taking risks we could miss out on so many opportunities and dreams.
Life is a series of calculated risks with no guaranteed outcome.
Some risks that are worth taking include;
The risk of failing
The risk of failing is one of the hardest risks of all for us to take.  Think about it for a moment when we don’t fail we succeed and when we do fail we succeed because we will have to find another way to do it in order to succeed.  Emotions are often what hold’s us back from taking the calculated risk in order to succeed.
The risk of making a mistake
To succeed in life we need to be able to make and admit our mistakes.  If we are not making mistakes we are not trying enough new things in our lives.
The risk of never being good enough
We will either be good enough or we will not.  But without taking the risk we will never find out and the risk of not knowing is greater than the risk of making a mistake.
The risk of love
To risk saying I love you and not to be loved back.  Of course it will hurt if we tell someone we love them and they don’t say it in return but it is better to take the risk and say I love you than wait and miss out on the opportunity of love altogether.

So does taking risks apply in the same way to our financial lives? Are there financial risks that are worth taking?
Here are 4 financial risks worth taking;
The risk of not investing in something
No matter how little knowledge you have.  The worst thing you can do is not investing in anything.  There are so many different options out there which you can allow ourselves to be overwhelmed by and end up doing nothing.  But in the beginning if you keep it simple by picking a couple of mutual funds and stocks you will soon gain confidence and your risks will be rewarded as you start to grow your investment portfolio.
The risk of not creating a plan
Creating a plan is a risk worth taking, having a plan in place gives you something to strive towards giving you the foundation to build upon which in the long term will help you achieve your goal of a secure financial future.
The risk of remaining calm
It can be a scary ride when you are investing in the stock market, a rollercoaster ride of ups and downs that can have your emotions tell you to get off at the worst possible time.  You need to avoid that temptation and not allow yourselves to panic and be patient until the ride takes you back up.    
The risk of admitting you need to seek Financial Advice
Planning for your financial future is a risk worth taking therefore seeking financial advice from a professional plays a vital role in giving you the results that you need to be successful in your financial future.

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