The FI Mastery Podcast

Three Ways to Better Manage Risk

August 10, 2023 Peter Donisanu
The FI Mastery Podcast
Three Ways to Better Manage Risk
Show Notes

What comes to your mind when you think of the word, “risk?”

Maybe when you hear the word “risk”, you think of the word danger, or the potential for of an undesirable outcome to your health, wealth or time. 

Or maybe when you hear the word, “risk”, you think of all the possibilities associated with potential outsized financial gains as you put some of your money on the line for a solid investment. 

Either way, whether you see it as a danger keep away from at all costs or an opportunity to make money, moving through risk carefully can open up a world of opportunities for you when approached thoughtfully.

Indeed, risk is like a powerful and unpredictable ocean wave faced head on by a skilled surfer. And, just like that surfer, when you skillfully navigate it, harness its energy and ride it skillfully, you can experience an exhilarating surge that propels your life forward, allowing you to reach new heights that you otherwise wouldn’t have been able to experience. 

However, if you underestimate its strength or fail to maintain your balance on life’s surfboard, then that same wave can quickly overpower you, pull you underwater and humble you in an instant.

Indeed, just like riding the waves of your own life, sometimes you need to know which risks to take and which to avoid, how to prevent unnecessary losses when you do take risks as well as being prepared for when life throws you an unexpected curveball.

That’s why when it comes to achieving and maintaining financial independence, being able to master the way you prepare for risks is key to sustaining the wealth you build along the journey.

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