Wealth Secret: Choosing Wealth Means Taking Risk
By Owen Wanga
Published On July 27, 2022
By Owen Charles
Risk and opportunity are 2 sides of the same coin. However, we often associate high risks in our finances with loss because they present the reality of potential loss. This triggers our primal instinct of self-preservation. That’s why we walk without thinking we can trip and fall over but can’t stand walking on a high-hanging shaking bridge. (The uneasy feeling you get from your legs and your imagination alone tells you the level of risk in such situations)
Let’s bridge the gap between the example and the main point: Anyone who imagines they are not a risk-taker is in a deep sleep. And when it comes to your finances, it’s time to wake up! Everyday things such as crossing the road, trying out a new hobby or simply buying a product you haven’t used before is a risk taken.
“Far better it is to dare mighty things, to win glorious triumphs, though checkered by failure, than to take rank with those poor spirits, who neither enjoy much nor suffer much, because they live in that gray twilight, that knows not victory nor defeat.”
– Theodore Roosevelt, Former President of the United States of America
There are 2 risks in particular that I’d highlight when it comes to finances. On one hand, there is the risk of creating a business —it takes active participation to become an entrepreneur. An entrepreneur by definition is a person who gathers the factors of production and takes risks to create a business in order to generate profit.
On the other hand, we have the risk of investment. Investing in someone else’s business can be done more passively. Both have the potential to create a 10X (or 10 times the return on the investment of one’s time or money. The former requires entrepreneurs while the other requires financiers (Those willing to contribute financially).
It is a symbiotic relationship where one cannot exist without the other. The process combines time and money with total faith in a positive outcome to create wealth. Our society has often valued and rewarded women or men willing to risk everything on the chance that they were meant to be great and that life was meant to be lived in abundance. Most of them not only changed their lives but transformed the lives of many across the world.
At financially fit, we believe that life is a great adventure with no guarantee of what the next day may bring. This is why understanding risk evaluation and taking risks that you can manage can potentially lead to great rewards you never imagined. If you’ve been wondering about taking that risk that will change your financial life, this is your sign from above right on your screen. Be a risk taker. Be financially fit.
Here’s a quote to stir up your risk-taking spirit:
“Far better it is to dare mighty things, to win glorious triumphs, though checkered by failure, than to take rank with those poor spirits, who neither enjoy much nor suffer much, because they live in that grey twilight, that knows not victory nor defeat.”
– Theodore Roosevelt, Former President of the United States of America
