May
22
How Much Risk Are You Willing to Take?
May 22, 2008 |
Why is it that some people do get rich from taking part in stockmarkets? Don’t they know the risks involved? Aren’t they afraid to lose all the money? These people are known as risk takers. Why is it that they succeed when others don’t?
[by rosswebsdale]
They take calculated risks and they manage their risks. They are prepared to lose a certain amount of money before switching funds. Take the author of Rich Dad, Poor Dad (Robert Kiyosaki). In one of the books, Retire Rich, Retire Young, he mentioned about the differences between his rich dad and his poor dad. It wasn’t necessary about risks. It’s about knowing the risks and deciding which one has a better pay off.
What’s the percentage of risk are you willing to accept? 100% risk free? 90% success rate? 50% chance to succeed? When a doctor tells his patient, “You have a stage III cancer. The operation gives you a chance of 60% of success.” What would the patient do? Take the chance so that the chemotherapy treatments could be reduced?
What if you were told that your womb is developing cancer and total removal would reduce the cancer from spreading by 90%? Would you want to live longer to spend time with your loved ones?
How much risk are you willing to take?
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