How comfortable are you with Risk?
Poll: How comfortable are you with Risk?
Total Members Polled: 137
Discussion
I guess there's 2 real areas we take risks.
Financials
From paying the basics and a few hundred on a CC.
A little controlled risk. £10 on the Lottery, £50 on a bet with a friend. Bigger CC debts over £1000
Taking out a big loan on something (I've excluded Mortgages for obvious reasons) Or dropping £2K+ on the horses.
Someone prepared to risk their home, and possessions in pursuit of something bigger. Starting a business for example. Selling everything and emigrating.
Health / Our Life
Healthy, but mostly regular limited risk lives. No risks you can't control.
Unhealthy habits. Smoking, Binge Drinking. Regular drug use. Often driving a little too fast. - Can require Hospital treatment
A Parachute Jump. Mountain Biking down actual mountains at speed - Broken Bones can occur
All the way to the person that rock climbs with no harnesses at the weekends. Real life and Death scenario
Where are you roughly on each? (multiple voted allowed)
Financials
From paying the basics and a few hundred on a CC.
A little controlled risk. £10 on the Lottery, £50 on a bet with a friend. Bigger CC debts over £1000
Taking out a big loan on something (I've excluded Mortgages for obvious reasons) Or dropping £2K+ on the horses.
Someone prepared to risk their home, and possessions in pursuit of something bigger. Starting a business for example. Selling everything and emigrating.
Health / Our Life
Healthy, but mostly regular limited risk lives. No risks you can't control.
Unhealthy habits. Smoking, Binge Drinking. Regular drug use. Often driving a little too fast. - Can require Hospital treatment
A Parachute Jump. Mountain Biking down actual mountains at speed - Broken Bones can occur
All the way to the person that rock climbs with no harnesses at the weekends. Real life and Death scenario
Where are you roughly on each? (multiple voted allowed)
Not risky with money but have no real fear about my own personal safety sort of a fred dibnah wouldn't have thought twice about following him up one of them old wooden leaders to the top of a 100-200 foot chimney. Quite physically fit though, although do eat far to much junk food and do a bit of binge drinking.
I think its more about how ‘uncomfortable’ a person is without taking risk i.e life is teadiously boring without a certain level of risk in whichever area their choosen risk should be.
Financial, physical, mental, emotional etc
one that intestes me is age and the more vulerabal we become and how much more risk averse we become..
Also being in a couple where youkre both risk takers with no counterbalance..
Anyone think of any areas where risk taking takes on all the above areas at max level?
I think most risk takers would agree they feel more ‘alive’ when they take risks, calculated or not.
We risked allot to achieve what we wanted and it paid off but we saw so many before us who werent so fortunate but we’re analytical and could see they didnt have what it took before they even started so maybe we werent taking as much of a risk as i think.
Financial, physical, mental, emotional etc
one that intestes me is age and the more vulerabal we become and how much more risk averse we become..
Also being in a couple where youkre both risk takers with no counterbalance..
Anyone think of any areas where risk taking takes on all the above areas at max level?
I think most risk takers would agree they feel more ‘alive’ when they take risks, calculated or not.
We risked allot to achieve what we wanted and it paid off but we saw so many before us who werent so fortunate but we’re analytical and could see they didnt have what it took before they even started so maybe we werent taking as much of a risk as i think.
Edited by Pvapour on Thursday 3rd January 08:58
Its all about the combination of risk and control.
For example, i am quite risk averse when it comes to investments and money. I like to only put money into things i understand and have some knowledge and understanding of. I don't like the idea that someone with maybe a different agenda to me is in control of my money's destiny. Investing or borrowing money puts you almost completely out of control of it - where it goes and what you get back you have very little influence on.
On the other hand, I enjoy risky hobbies such as mountain biking, motorcycling and open water swimming. These are all scenarios where I control the level of risk vs reward and can manage all aspects of it throughout.
For example, i am quite risk averse when it comes to investments and money. I like to only put money into things i understand and have some knowledge and understanding of. I don't like the idea that someone with maybe a different agenda to me is in control of my money's destiny. Investing or borrowing money puts you almost completely out of control of it - where it goes and what you get back you have very little influence on.
On the other hand, I enjoy risky hobbies such as mountain biking, motorcycling and open water swimming. These are all scenarios where I control the level of risk vs reward and can manage all aspects of it throughout.
I never risk money (investments that may lose, gambling of any form) - I've never ever had so much spare cash that I've been willing to risk any of it. Even a £ in my pocket is still better the £ in my pocket than the small chance I might win more if I risk it.
Health wise I am getting more risk averse as I get older; I've slowed down on motorbikes a lot (still ride the same sort of bikes), I now ski harder more technical but slower stuff than the faster stuff of years gone by for example.
Health wise I am getting more risk averse as I get older; I've slowed down on motorbikes a lot (still ride the same sort of bikes), I now ski harder more technical but slower stuff than the faster stuff of years gone by for example.
I take more risks with my own health than I do financially... It's more within my control.
Mountain biking (real mountains), snowboarding, motorcycling - road/trackdays, jumping out of planes that kind of thing.
Saying that I'm currently nursing a busted thumb, tweaked knee (1 year), knackered shoulder (2+ years).
Mountain biking (real mountains), snowboarding, motorcycling - road/trackdays, jumping out of planes that kind of thing.
Saying that I'm currently nursing a busted thumb, tweaked knee (1 year), knackered shoulder (2+ years).
Sold up the family home, moved to the other side of the country and purchased a bit of land with no planning with our life savings to start a new business, so deffo fall into the 80% risk category on that one!
Binge drink a little too much, play with chainsaws and quadbikes, but no jumping out of planes for me thankyou
Binge drink a little too much, play with chainsaws and quadbikes, but no jumping out of planes for me thankyou
Your attitude to risk may change through your life.
Being an old man I have derisked all my exposure in the stockmarket and now just in savings accounts and £15000 in premium bonds,
Health I dont give a stuff about, I eat anything I want on the basis that I have lived long enough, so enjoy the moment.
I accept that these two strategies are at odds with one another.
Being an old man I have derisked all my exposure in the stockmarket and now just in savings accounts and £15000 in premium bonds,
Health I dont give a stuff about, I eat anything I want on the basis that I have lived long enough, so enjoy the moment.
I accept that these two strategies are at odds with one another.
Money, I was bad when 18/19 and I learnt the hard way. Now save and pay everything upfront.
Health, quit smoking but had no issues throwing myself off a cliff into water or something else stupid until a few years ago when I broke my back on a trampoline. Still suffering today. I have a bit more of a f
k that approach to anything that involves risk of injury. Starting to eat healthier and exercise occasionally now to.
My job is a health risk though. Dangerous nasty place to work.
Health, quit smoking but had no issues throwing myself off a cliff into water or something else stupid until a few years ago when I broke my back on a trampoline. Still suffering today. I have a bit more of a f
k that approach to anything that involves risk of injury. Starting to eat healthier and exercise occasionally now to.My job is a health risk though. Dangerous nasty place to work.
No Risk x2
I wondered if something nasty would happen if I pressed "Vote"
Having said that, I drive as part of my work.
https://www.statista.com/statistics/292374/fatal-i...
I wondered if something nasty would happen if I pressed "Vote"
Having said that, I drive as part of my work.
https://www.statista.com/statistics/292374/fatal-i...
Edited by talksthetorque on Thursday 3rd January 10:39
Not-The-Messiah said:
Not risky with money but have no real fear about my own personal safety sort of a fred dibnah wouldn't have thought twice about following him up one of them old wooden leaders to the top of a 100-200 foot chimney. Quite physically fit though, although do eat far to much junk food and do a bit of binge drinking.
What's the point of being careful with money if you have no concerns with throwing your life away? You have to be alive to enjoy your wealth.Happy to chuck some of my money into things like managed portfolios and such, I don't have a lot of it anyway and don't put much importance on it, as long as the balance stays out of the red I'm happy. Currently watching my Nutmeg account go into freefall with morbid amusement.
Health... no fags, booze or drugs, but I've lost count of the amount of things I've injured over the years after coming up on the wrong side of risk/reward. I've had several "well, this is how I die" moments on skiing holidays (120kmh blasts, jumping off of blind cliff drops), can't resist the urge to push my cars on late night empty roads (RIP little 172, you did good) and generally take doctors' advice as optional.
Health... no fags, booze or drugs, but I've lost count of the amount of things I've injured over the years after coming up on the wrong side of risk/reward. I've had several "well, this is how I die" moments on skiing holidays (120kmh blasts, jumping off of blind cliff drops), can't resist the urge to push my cars on late night empty roads (RIP little 172, you did good) and generally take doctors' advice as optional.
Financial risk is s constant state of flux for me, I think like most people - collectively we can it an economy.
In the past I gave no sts, I earned a lot of money in my 20s and spent it all and a lot more on top. Didn't bother me because there's always a tomorrow and a chance to make more.
Then I earned less, a lot less, got into debt when a Baby came unexpectedly and hate it, it's a tiny amount compared to most (based on average UK indebtedness) but it feels like a burden I could do without. Seems crazy for me to think, but I'm happier reducing it rather than having shiny new things.
Health? again, the years of hard drinking, smoking and cocaine use are long gone. Didn't seem to do me any harm.
"Riding a mountain bike down actual mountains" irronically perhaps does, I'm sat by the phone right now waiting to hear from the Doc about the latest treatment for a wrist break back in 2009, plate is giving me pain, and I lost the tip of my elbow on the other arm at the same time, arm's a real mess, but I get by and I still ride, but at 41 with two kids, I ride slower and leave the crazy stuff to the young guns. Gone are the days of taking off and working out the landing mid-air. Overall it keeps me supple (bar the arms) and my BP in the 'perfect zone' and my resting heart rate in the 50s.
In the past I gave no s
ts, I earned a lot of money in my 20s and spent it all and a lot more on top. Didn't bother me because there's always a tomorrow and a chance to make more. Then I earned less, a lot less, got into debt when a Baby came unexpectedly and hate it, it's a tiny amount compared to most (based on average UK indebtedness) but it feels like a burden I could do without. Seems crazy for me to think, but I'm happier reducing it rather than having shiny new things.
Health? again, the years of hard drinking, smoking and cocaine use are long gone. Didn't seem to do me any harm.
"Riding a mountain bike down actual mountains" irronically perhaps does, I'm sat by the phone right now waiting to hear from the Doc about the latest treatment for a wrist break back in 2009, plate is giving me pain, and I lost the tip of my elbow on the other arm at the same time, arm's a real mess, but I get by and I still ride, but at 41 with two kids, I ride slower and leave the crazy stuff to the young guns. Gone are the days of taking off and working out the landing mid-air. Overall it keeps me supple (bar the arms) and my BP in the 'perfect zone' and my resting heart rate in the 50s.
Dont really take any health risks, apart from lots of junk food and a few beers pw. Quite fit for my age so no massive worries there, touch wood
Money- happy to take risks there and gave used borrowed money in the past. Sometimes successfully, sometimes not. I'm confident I can build wealth myself and have accepted I have to take risks to do it as have no family wealth behind me.
Money- happy to take risks there and gave used borrowed money in the past. Sometimes successfully, sometimes not. I'm confident I can build wealth myself and have accepted I have to take risks to do it as have no family wealth behind me.
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