Taking Caclulated Risks

“With Great Risk Comes Great Reward” – Thomas Jefferson

Be dangerous in your thinking. This concept can be one of the biggest determining factors to project a person forward to where they want to be, while others can potentially lose everything.

While it is true that with risk comes reward, when dealing with personal finance we all have similar but unique circumstances which must be taken into consideration.

What may be considered a strategic calculated risk for a single person in their twenties, can also be irresponsible and reckless for a single mother with children.

It is not a recommended scenario to just quit your job and start a new business for anyone. However, if a single person in their twenties decides to do this it can potentially be a calculated risk, while a single mother would be putting herself in a high stress situation.

While the levels of calculated risks may vary from person to person, the major take away is to always think outside of the limiting unspoken mental restraints the majority of people operate within.

Again, these types of decisions must always be weighed against the rewards and calculated to ensure that the desired result is worth the risk.

Please don’t confuse this type of risk and reward along side betting this month’s paycheck on red or black at the tables in Las Vegas.

That would be an uncalculated, reckless, and irresponsible decision for any person to make. It couldn’t be further from the mental discipline we are after.

Often, with calculated risks the reward will not immediately appear. It may take weeks, months, or even longer. This is exactly why is must be planned and mapped out to ensure the rewards are worth the risk.

A simple example for any person would be signing up for a course or seminar where you have the potential to obtain information you can immediately apply to your business or career.

It might be expensive, enough to really stretch your bank account but not break it. However, this information may help you reach the next level in your journey projecting you years forward.

How does this concept of being dangerous and thinking independently affect a person’s life? Our primary goal with this way of thinking is to shift out of the silent fear most people live in and move into a state of accelerating life forward.

Being dangerous means thinking for yourself, reaching higher than you’ve ever reached, meeting people you’ve been uncomfortable to talk to before, going places you’ve never been, and reaching the visions you have inside you.

See, to me personal finance is a reflection of that person. Getting control of and optimizing your personal finances ripples out into all areas of your life.

Ultimately, we are not here to make just enough money every month to pay for our rent, utilities, and bills. There is a bigger purpose as to why we are all here.

There are people outside of your family who are depending on you to get this part of your life handled to share with them.

I don’t mean share just money with them, but share your journey of inspiration and insight to help them reach their goals. Money is simply a reflection of the value we create (the unseen thoughts, energy, emotions, and positivity) which we share with the world.

I may say this a few times in the book but it would be a dream of mine to have you, yes you, join me on an episode of our Entrepreneur Spotlight Podcast episode to share your journey towards achieving financial independence.

Every successful person has taken some level of risk to achieve their goals. Ah, that’s right goals, perfect timing to get into our second principle of goal setting. Let’s dive in.

 

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jordan@incomeoverexpense.com

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