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The Rules of Wealth, 3rd Edition by Richard Templar

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RULE 26

Decide your attitude to risk

Am I going to suggest that money can only be hard won by perilous investments and chancy ventures? No, I’m not. In that case, am I suggesting caution and that you should carefully hang on to every penny? No, I’m not advocating that either.

What I am suggesting is that it’s entirely up to you what level of risk you feel happy with – it’s no good me telling you what that level should be. You have to decide your own attitude to and appetite for risk. Personally I love the idea of sailing close to the wind financially. However, my attitude is definitely verging on the cautious side so I don’t take the risk. I find the risky schemes where you could blow the lot or make a fortune hold some appeal but I don’t indulge ...

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