Small Steps to Health and Wealth Newsletter

According to the Merriam-Webster dictionary, risk is defined as “exposure to possible loss or injury.” To that end, people often decide that certain activities in life are “worth the risk.” Some risks, such as taking your last $1,000 to a casino and relying on luck to gain a profitable return, are clearly unwise. You increase the odds of success by researching a risk-taking behavior (e.g., investing), developing and implementing an action plan, and remaining focused on the outcome. Risk-taking indicates that you have confidence in your ability to succeed but also accept the possibility of failure because mistakes are a fact of life. When people better understand a particular risk or have some previous experience dealing with it (e.g., investing), their fear of risk-taking often decreases. For example, if you take an investment class and learn that stock returns have been superior to other asset classes historically, but also very volatile in short time frames, you may be less inclined to panic and sell during a stock market downturn. Passion provides the energy and courage required to make a change. Take the time to analyze the risk of pursuing your goals, your fears about taking risks, and ways to overcome those fears.

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