Do you want to reach your full potential? A big part of that, I believe, is managing your risks. There are risks in different parts of your life, and the better you manage them, the better your chance to move forward in life. Not managing your risks well, on the other hand, could cause you a big headache down the road. I’m constantly learning how to better manage my risks, but I’d like to share what I’ve learned so far with you. Here are my four lessons learned on how to manage risks.
I recently finished reading Principles: Life and Work by Ray Dalio. It’s an insightful book that teaches me a lot of useful lessons. Here I’d like to share one of the lessons with you. It’s a principle on how to maximize your upside while minimizing your downside. Interesting, isn’t it?
There is a new word that I learned recently: tsundoku. It’s a Japanese word that means “buying reading materials without reading them.” When I first learned about the word, it struck me because it describes me well :) Okay, I actually read the books I buy, but I buy books faster than I read them, so I guess the term still applies to me. Fortunately, I buy mostly e-books these days so they don’t take physical space.
I recently read Your Money or Your Life, an insightful book about personal finance. I have read the book about a decade ago, but a decade is a long time so I decided to read it again to refresh my memory. There is a concept that is emphasized again and again in the book. That concept is frugality. The book says that frugality is the key to living a fulfilled life financially and I agree with it.
Note: This post is written by Gabriel Fishbein Having a family is one of the most fulfilling accomplishments; it’s a whole new chapter of life. Whether you have one child or more, you probably know that as rewarding as being a parent is, it can also be tough sometimes.