Financial Risk

by Mary Lucas on January 29, 2012

Most of us don’t like risk.

We buy insurance. We work for a paycheck. We put our money in an FDIC-insured savings account even though it pays less than 1.0% interest.

These things aren’t necessarily bad; a little bit of caution is a good thing.  What about the financial risk’s?

But when you become conditioned to reject nearly any risk in your life, think of how this influences your behaviors and, more critically, how it impacts your life.

  • you don’t talk to that beautiful guy/girl at a party because you’re afraid of rejection; you stay single
  • you don’t take credit for an outstanding job at work because you’re afraid others will think you’re bragging; somebody else gets promoted
  • you don’t follow your passion because you’re afraid others will call you crazy; you have major regrets in 30-40 years

Risk is good.

Risk creates progress.

But you don’t have to risk your life to rocket into space. You don’t have to quit your job to become an entrepreneur (unless you want to, in which case, you probably should). But this year, after your resolutions to hit the gym and stop buying lattes have failed (and most of them will), resolve to take a risk or two.

Talk to a pretty stranger. Go skydiving. Start freelancing. Leave a job.

There is a line, of course. I’m not telling you to stake your life’s savings on red at the roulette wheel. There are big risks and small risks. Some risks have positive expectations, like the strong likelihood a boss will grant a hardworking employee’s request for a modest raise. Some risks have negative expectations—roulette, for instance.

Of course, not all risks will pay off.

But success is earned on the back of many such small risks, and the obdurate takers will be rewarded with far more than the costs of their failures.

I know this isn’t specific financial advice you might be expecting, but it is—most importantly—actionable. You can resolve to take risks this year. And you can start today.

 

My latest risks…

Have I told you yet that I have a business degree…or that I am a certified PDA?!  Here was my plan of action in facing my fear’s and taking risk’s.  I decided to quit my 9-5 job and throw myself into MLM.  I still kept a part-time job as a retail clerk just for that little security!  After 7 months I figured it was now or never, I changed my availability to NEVER and walked out.  Yes, I still question my decision at time’s, but looking back it was the best risk I could have taken.  I can stay at home with my children now, take time off (when I want) I don’t have to answer to anyone!

Some people are natural entrepreneurs, some aren’t, what matter’s is that you alway’s have a plan B.  I’m still working with my plan B and can tell you that I am in a better position financially then I have been in year’s!  Within the next 6 month’s my projected income will be 12,000 a month…yes, I said a MONTH!  For me the risk was well worth it.

I hope this help’s some of you decide whether the risk is the best choice for you.  Think of your option’s and alway’s do what’s best for you and your future!

Until next time….

{ 1 comment }

1 Juan July 6, 2012 at 12:52 am

Hello, just wanted to mention, I enjoyed this blog post.

It was practical. Keep on posting!
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