Benefits of Tolerating Risk

I have just had another epiphany.

I have just been reading a book written by someone who has become very wealthy, but did not do it in a way that focussed on providing value to other people. I find that by reading perspectives from different people who have become wealthy, it is easier to isolate the core beliefs that are necessary for generating wealth from those which are not. With this information I can more efficiently tackle changing my own beliefs.

So anyway.

I have found that an interesting characteristic the wealthy share is their tolerance to risk. Risk tolerance is very closely related to a person's ability to overcome their fears. As you fear failure less you will be willing to take on more risk. I am beginning to believe that the ability to take on risk (sensibly) is one of the key factors that will in the long term benefit someone financially.

Another interesting thing I have picked up is how tolerance to risk can be applied to other areas, besides finance.

One of these areas is in your social life.

By enjoying risk you will enjoy expressing your true self more in social interactions. You will be more likely to crack jokes amongst people you do not know and you will be more likely to get involved more. This is because both of these things involve risk. Looking back on it now, it is often those friends of mine who are most comfortable with risk who are also the most fearless socially.

Now by being socially fearless they do not necessarily achieve the same outcome that I want to. For example, some socially fearless people I know treat people very harshly and do not feel regret (as far as I can tell). The outcomes they produce that I do like are ones such as being able to enjoy themselves a lot around people they do not know. They are also able to crack more jokes and it takes them much less time to form friendships.

To conclude...

1. Recognise the benefits that an increased tolerance to risk will give you financially and in other areas of your life
2. Find some ways in which you can improve your tolerance to risk
3. Apply it!