That is the question…and I think that picture is Shakespeare…
When dealing in matters of life, and money, the concept of risk vs. reward will inevitably come up. At its’ core, risk vs. reward boils down to this: “The more you are willing to risk, the potential reward increases, but the potential loss increases as well.” And this is a very, very gray area because individual’s risk tolerance varies from person to person.
In my opinion responsible risk vs. reward does not look like risking your house (whether it is a real house or an imaginary HGTV house) to have the potential reward of two houses. Responsible risk vs. reward looks like making one small change every day, or trying one small thing that you haven’t done every day to expand your comfort zone.
- Maybe that change is as small as reading a blog (there is a blog that I am partial to, and hopefully you are as well…)
- Maybe that change is bigger; maybe you are taking money from the safety of your couch cushions and putting it in a savings account.
- Maybe that change is bigger still by taking on a DIY project around your home.
Only you can determine that for yourself…no one is going to make you challenge yourself.
It all goes back to “Is the Juice Worth the Squeeze?“…and you can only determine that for yourself. But I offer you, my devoted reader, a quote from Thomas Jefferson (yes, I am still on a Hamilton kick) to challenge you to think about your comfort zone and potentially step outside it:
“If you want something you have never had, you must be willing to do something you have never done.”
Thomas Jefferson
Road to One Million 