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Episode 3068:
Taking financial risks wisely can be a game-changer for building long-term wealth. Vicki Cook and Amy Blacklock break down how to educate yourself on investing, assess your risk tolerance, and make informed decisions that align with your financial goals. By continuously learning and adjusting your strategy over time, you can confidently embrace risk without fear, allowing you to grow your wealth while maintaining financial security.
Read along with the original article(s) here: https://womenwhomoney.com/why-is-taking-some-financial-risk-important/
Quotes to ponder:
"You don’t want to become so comfortable with your investment decisions that you fail to reconsider what 'risk' means to you over time."
"If a conservative approach helps you sleep better at night, investing more money for a lengthier period will build wealth too."
"Your mindset will shift over time, from being fearful to courageously taking more risks."
Episode references:
University of Missouri Risk Tolerance Assessment: https://pfp.missouri.edu/research/investment-risk-tolerance-assessment
The Simple Path to Wealth: https://www.amazon.com/Simple-Path-Wealth-Financial-Independence/dp/1533667926
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