Once you make the decision to become a millionaire investing, you now have to decide not whether to take risk, but rather, what kind of risk to take. Every investment or business decision implies some element of risk ranging from extremely low to exceptionally high. Whilst investing always entails some element of risk, your may be shocked to know, that oftentimes, it’s the investor himself that is actually the biggest risk. Read on to find out more.
Risk = Not Knowing What You’re Doing
In business, life and investing, you have to decide not whether to take risk, but rather, what kind of risk(s) to take. Every investment or business decision implies some element of risk ranging from low to high.
The Cambridge dictionary refers to risk as ‘the possibility of something bad happening’. When it comes to investing money, many people think of risk as the possibility of losing part or all of their money. Investment professionals can refer to risk as the ‘variability of returns’ and your typical fund manager will see risk as the difference between expectation and results. My all-time favourite quote about risk comes from none other than Warren Buffet: “Risk comes from not knowing what you’re doing”. I think this nails it.
Read more about The Secret to Making Millions with Little or No Risk! in my next post – you will learn why the investor can be the biggest risk in investing.
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About Keelan Cunningham
Keelan Cunningham is an entrepreneur, multiple business owner, author, and personal finance/wealth building specialist. Keelan’s passion is helping people improve their business acumen and personal wealth creation strategies, so they can lead a truly wealthy life in all aspects and with any luck similarly transform the lives of others.
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