Tag Archive | Risk management

MANAGE THE RISK OF TAKING THE PLUNGE

Risk

Risk (Photo credit: The Fayj)

Taking the plunge, any plunge, is usually scary as hell, because it involves uncertainties, and as we’ve said: we feel like we’re not 100% ready: “it’s not perfect”.
The only way to minimize – not eliminate – the risk is to break down the different steps, the successive plunges, into the smallest possible size. If you wait until after investing $ 1 MM to take action, your risk is far larger than if you take 4 separate actions each time you reach the $ 250 K mark. That way you have 4 action and correction points along the way to the $ 1 MM investment mark.
Break it down, you’ll reduce risk and also anxiety.
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