Get good at managing risk. Not irrational, but rather a calculated, smart risk.
Irrational risk can leave you bankrupt, homeless, while a calculated risk can set you back a bit without affecting your livelihood.
- investing all your money on the new, hot crypto asset
- quitting your job to start a YouTube channel without an existing audience
- participating in any illegal activity
- investing a ton of time into creating an audience for your artistic ambitions
- learning a skill that isn’t in high demand right now but might be in the future
- quitting your job when you’re making enough money to cover your basic needs with a side-hustle
In short, if the upside is tremendous and the downside limited, fixed, it’s almost always worth taking the risk.
What risk can you take today that might pay off significantly in the future?