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What you’ll hear in this episode:
In this episode, you’ll learn all about risk.
We defined what risk is and the four basic ways that we can approach risk, especially when making financial decisions.
We gave examples on how to mitigate risks and the proper mindset that one should have so as to not let the fear control our lives.
Excerpts and Highlights:
People are generally good at avoiding obvious risks. Thanks to our evolutionary instincts. However, when it comes to modern day-to-day life, we can sometimes fail to properly assess the risks involved in the things we do.
The four basic ways to handle risk is by avoidance, reduction, risk sharing, and acceptance.
When faced with major life decisions, don’t think not just in terms of what might go wrong. But more often, you should think of what could go right and how can you make the best-case scenario happen.
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