So far, 2022 surely tested your risk tolerance. But what does mean to have a high-risk tolerance? Is it a personality trait or something that comes through time? Is it linked to your self-confidence? How can it help you as an investor and how should you assess it? When is it too much?
These are all the questions that Mike answers today by sharing his own story.
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You’ll Learn
- Is high-risk tolerance a personality trait that one could notice as early as childhood? What was Mike’s first big risk and how did it end up?
- How important is your surrounding’s influence on your work life and your investor’s style? Mike has been greatly inspired by one of his aunts.
- The first time Mike used money with more risks was to buy a blog and flip it! He then used leverage a couple of times with more or fewer results.
- Why a full year in an RV with his family has totally changed his life and his perspective on risk tolerance.
- Did any of these experiences turn bad and does he have any regrets?
- What’s the important difference between high risk and calculated risk.
- How does having a certain level of confidence can help investors.
- What are the 3 questions investors need to ask themselves to assess their level of tolerance toward risk or volatility?
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This podcast episode has been provided by Dividend Stocks Rock.
Very informative and encouraging when things are looking a bit rocky right now for sitting tight on what appeared, (and still appears), to be good investments that made money in the past.