Risk-takers always ahead financially

[just_Alice]

I agree with you, without taking risks there will be no success (either personal or in business, it doesn't matter). However, before simply taking the risk one should assess the risk and its possible consequences. There are many risk-assessment techniques, that are used in business, project development, but, basically, you can apply them anywhere. My favorites are SWOT analysis (when you assess Strengths, Weaknesses, Opportunities, and Threats), which comes in very handy when you want to make your analysis as objective as possible and make the decision.

Also, there is a Risk Matrix, in which you enter data about the probability of something happening and about the consequences. The risk is considered as high if there's a high probability of something bad happening and vice versa. It seems like something you can put together in your head, but it actually works much better if you write it all down in this table/matrix, and use different colors and scales to depict the level of risk for each parameter in question, and in the end, you can calculate the overall risk. Using these techniques will help you to see the full picture, not just in your head, but a vivid image of it, and also to take into account every little detail you might forget otherwise.

[milewilda]

and to all the people who says that hardwork is the key for getting out, you are dead wrong, it is like being in a quicksand, the more you struggle will only lead to you sinking deeper.

Exactly, the only "sure" key of climbing up financially for the poor is scholarship and then after that they could get all the opportunities opened up even like that they still one step behind because don't have any connections or such. That's also why most of the formerly poor people who fix their financial most of them become employee and don't really want to take the risk of becoming poor again by being risk-taker.
Though i don't deny that there's always some people who could escape from being poor but thats like 1 in 100000

That is the reason if you look at the richest people in the world you will see that most of them had rich parents or family, they never really "took risks" in the sense that they would be poor or starving if they never did their jobs. Jeff Bezos? Guy who had island level big lot for their houses when he grew up (had a worse baby and toddler period but got richer later when his mother married a rich guy) and had a rich grandfather as well, not "this" level rich of course but rich. Elon musk? His father took ownership of mines and got rich off others hard work, Bill Gates? You think a kid at 17 can build something with his friend when they are poor?

There are people out there having hard time finding something to eat, Bill gates had all the toys he could imagine under his hand and he did whatever he wanted when growing up without a problem, Mark Zuckerberg? Dude was "all paid of" Harvard student, he came from a rich family too. All those "risk takers" came from a level where they wouldn't mind going back down, every single one.

You are just pointing out those big fishes on the top rank but how about on considering on those billionaires that
who grew up poor.?

1. Oprah Winfrey
2. Howard Schultz
3. Ralph Lauren
4. Larry Ellison
5. Kenneth Langone
6. Sheldon Adelson
7. Alan Gerry
8. John Paul DeJoria
9. Harold Hamm
10. J.K. Rowling

Source: https://www.cnbc.com/2017/09/11/10-billionaires-who-grew-up-dirt-poor.html

These might not be those top billionaires but there are people who work hard to attain their level.

[AndySt]

These might not be those top billionaires but there are people who work hard to attain their level.

I hope that you will still agree that hard work alone is not enough to become a billionaire and you need a successful combination of circumstances, and for every such lucky person there are a thousand less successful competitors. Steve Jobs was ruined several times or was on the verge of ruin and no one would have remembered about him if the business failed in the end. On the one hand, it is necessary to keep successful examples as a guide, but also keep in mind potential failures and do not forget that risk does not always lead to success.

[jjdub7]

I consider myself a risk-taker when it comes to financial decisions, yet I'm not so ahead. I guess besides bravery, you must have the knowledge and some luck

But I agree with you that better to be a risk-taken than a passive sheep.

[Samayuki]

To say the truth not all risks takers will always be a winner, you need to plan yourself very well and develop the not giving up spirit in you, many know how to take risks but not all of us knows how to deal with failures when they come, you have to be brave

[Ozero]

They said risk-takers are money makers, the people who always end up on top. I think most of them, but not all of them. Investors and Traders, there's no difference both are risk-takers. It's up to them how they handle the risk. Do you think your money will grow by just looking at them? If we want to make more money, we, therefore, need to start taking the risk. Be as it may, we need to learn and gain enough knowledge about particular things that will help our money grow.

The risk must always be justified. This is the key to the success of any business. If you just take the risk, then here you will be as lucky. Therefore, successful financiers will calculate everything several times in order to make a certain decision. Cryptocurrency in general is impossible to calculate. So far, you can only rely on a small ten-year experience of working with it. However, here it should be borne in mind that there are no two identical situations at different times. Therefore, in cryptocurrency, you have to risk moderately.

[oHnK]

and to all the people who says that hardwork is the key for getting out, you are dead wrong, it is like being in a quicksand, the more you struggle will only lead to you sinking deeper.

Exactly, the only "sure" key of climbing up financially for the poor is scholarship and then after that they could get all the opportunities opened up even like that they still one step behind because don't have any connections or such. That's also why most of the formerly poor people who fix their financial most of them become employee and don't really want to take the risk of becoming poor again by being risk-taker.
Though i don't deny that there's always some people who could escape from being poor but thats like 1 in 100000

That is the reason if you look at the richest people in the world you will see that most of them had rich parents or family, they never really "took risks" in the sense that they would be poor or starving if they never did their jobs. Jeff Bezos? Guy who had island level big lot for their houses when he grew up (had a worse baby and toddler period but got richer later when his mother married a rich guy) and had a rich grandfather as well, not "this" level rich of course but rich. Elon musk? His father took ownership of mines and got rich off others hard work, Bill Gates? You think a kid at 17 can build something with his friend when they are poor?

There are people out there having hard time finding something to eat, Bill gates had all the toys he could imagine under his hand and he did whatever he wanted when growing up without a problem, Mark Zuckerberg? Dude was "all paid of" Harvard student, he came from a rich family too. All those "risk takers" came from a level where they wouldn't mind going back down, every single one.

You are just pointing out those big fishes on the top rank but how about on considering on those billionaires that
who grew up poor.?

1. Oprah Winfrey
2. Howard Schultz
3. Ralph Lauren
4. Larry Ellison
5. Kenneth Langone
6. Sheldon Adelson
7. Alan Gerry
8. John Paul DeJoria
9. Harold Hamm
10. J.K. Rowling

Source: https://www.cnbc.com/2017/09/11/10-billionaires-who-grew-up-dirt-poor.html

These might not be those top billionaires but there are people who work hard to attain their level.

Indeed the fact is, those who are truly wealthy and successful in the beginning have the privilege of their family.  However, there are also those who succeed come from poor families.  However, if it is presented, it will be very far.  Only 1% of the truly rich are from poor families.  The rest, they are basically rich. If you look at their whole life, they are not really a risk taker.  Only the lucky have a better chance than the other poor.  Risk takers don't always make someone very successful.  It only accounts for a few percent in supporting someone to be successful.

[TheUltraElite]

They said risk-takers are money makers, the people who always end up on top. I think most of them, but not all of them.

What you see is known as "Survivorship Bias" - I can guarantee you that the people who come at the top at the people who work hard and are determined to reach their goals. This is completely different from risk taking, most risk takers get burnt out and what you see are the few who survived.

Be as it may, we need to learn and gain enough knowledge about particular things that will help our money grow.

There is a subtle difference in the narrative here. OP is referring to the crypto sector where risk taking is a common practice, but in real life not all people are doing that. Most people are working to get a stable paying job and that should be the target for every other user in this forum too, leaving aside personal choice.

If you ask me, financially the hard working people are the ones whom I respect more. Risk taking is fine, but that wont keep you alive for long to survive that you can grow your money to a huge amount, only a few people have actually done that. Moreover what you see from your side is not always correct. Many stock traders and poker players actually have a lot of other investments and attachments to less risky sectors which allow a stable cash flow.

[TastyChillySauce00]

To say the truth not all risks takers will always be a winner, you need to plan yourself very well and develop the not giving up spirit in you, many know how to take risks but not all of us knows how to deal with failures when they come, you have to be brave

I mean, being a risk-taker should also have a reasonable mind that always plans well about how to overcome the obstacles and how to get up from failure, otherwise we'll become that kind of mindless risk-taker who might gets us to be homeless or a lacking person.
Most of the risk-takers I've seen seems reasonable enough otherwise they would definitely fail.
I guess being reasonable also comes with being risk takers. Though there's people who are too reasonable they don't even want to take the risk.
Also, when dealing with failures our bravery doesn't necessarily become the deciding factor but how much backlash and consequences we have from such failure that could be a huge deciding factor whether we can get up or not.

[3meek]

Not all times but most of the times risk-takers made the most profit, they are the most educated and most involved in the market, they checked the coins with good potential, and they always want to be an early bird in every good project, because they know there are hidden gems on new projects, once a risk-taker always a risk-taker, because they know what and how to look and why it's worth the risk.

For example, absolutely everything is growing on the market right now! Even the most egregious scams are growing too! Many people take risks and make money on this growth... But the risk must always be justified! And if you are unlucky, then you just lose your money... That's why you should not only know how to choose projects, but also leave them in time!

[matchi2011]

They said risk-takers are money makers, the people who always end up on top. I think most of them, but not all of them. Investors and Traders, there's no difference both are risk-takers. It's up to them how they handle the risk. Do you think your money will grow by just looking at them? If we want to make more money, we, therefore, need to start taking the risk. Be as it may, we need to learn and gain enough knowledge about particular things that will help our money grow.

The risk must always be justified. This is the key to the success of any business. If you just take the risk, then here you will be as lucky. Therefore, successful financiers will calculate everything several times in order to make a certain decision. Cryptocurrency in general is impossible to calculate. So far, you can only rely on a small ten-year experience of working with it. However, here it should be borne in mind that there are no two identical situations at different times. Therefore, in cryptocurrency, you have to risk moderately.

It is wise to educate yourself into something that involves high risk especially with those things that related with your financial
business, remember that you are using your hard earned money.

It's okay to gamble with the future if you have that knowledge that gives you chances to succeed, not an assurance but if you
have enough knowledge you can calculate and you can assess properly.

[Ucy]

If you think being risk-loving means richer, you're wrong. Only a small group of risk-loving people are successful, you never heard stories of unsuccessful one because, well, who want to hear unsuccessful stories. You may suffer from survivorship bias

Being risk-loving is bad for most of the case, in the long-run you always lose.

Reminds me how I took alot of risk while trying out things I read in articles about risk taking. Such publications usually missed teaching people the importance of mastering of things they wish to invest in for sustainable profits, with little to no risk ... When you start making reasonable & sufficient profits with less risk , you progressively increasing your investment in the business

[angrynerd88]

Commonly said that tall risk high profit,But its not essential that all times but most of the times risk takers made the foremost profit, they are the foremost taught and most included within the showcase, they checked the coins with great potential, and they continuously need to be an early winged creature in each great extend, since they know there are covered up diamonds on modern ventures, once a risk-taker continuously a risk taker, since they know what and how to see and why it's worth the chance.Taking risk with great knowledge lead to profit.

[VanDeinsberg12]

I consider myself a risk-taker when it comes to financial decisions, yet I'm not so ahead. I guess besides bravery, you must have the knowledge and some luck

But I agree with you that better to be a risk-taken than a passive sheep.

Depends, if you're risk-taker with small capital big fat chance you gonna lose it halfway, I've experienced it, being a risk taker with just hundred of dollars, man, I wish I had more capital back then.
The profit gaining is slow and the risk still the same compared to people with big capital, but thats just my 2 cents though, just feeling bigger capital has all the advantages.

[Ken_terrance]

Not all risk takers always end up being successful, to take a risk you have to use your common sense or else you will keep losing over and over also as a risk taker you have to know how to manage risk, don't take risk with all you have make sure you only take risk with what you can afford to lose

[bits4books]

Loving risk and being aware of risk are completely different things.
You can love risk but absolutely do not understand its consequences in case of anything, and you can calculate your actions and take risks consciously.
Any risk without a cold and precise calculation is a jump from a parachute only without a parachute.

[xSkylarx]

Life is all about taking risks. But only risk on something where you think that it will improve yourself even if you don't succeed. Just like cryptocurrency, some risk their money not knowing if it will have a real value in the future. Let's admit that many of us invested on crypto because we see that its price in the future can give as a good return that we can enjoy when we retire or for our future generation to use.

~Take the risk or lose the chance. 

[sensimilia]

The majoirt of risk-takers dont even understand that they are taking any risks. Only professional risk takers get profits from this in long term

[pankowri]

It is not guaranteed because the risk is risk there is uncertainty everywhere. If one takes the risk then it increases the possibilities to gain sometimes they fall into loss but the way of growing big is full of risks. If one studies the market, understands risk management, researches their work, tries to avoid hurry in taking g decision, and freezes for the shortcut cut way of making money then he should minimize risk.

[bitzizzix]

Risk-takers are always ahead financially, but that doesn't mean risk-takers aren't knowledgeable and knowledgeable about whatever is being done, all because they are based on prior knowledge and learn well about the risks involved to produce great results.
Taking risks without proper knowledge is tantamount to suicide, so knowledge and analysis or anything related to that risk is very important to know the right time to start and not, and besides learning from experience and mistakes that make us more careful. .