It Is Important For People To Take Risk In Both In Their Professional Life And Their Personal Life

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Taking risks often allows people to achieve stupendous success. Of course, there is also a possibility that risk takers can lose a lot more than they can afford. Even so, in my opinion, the benefits of taking risks outweigh the drawbacks provided that people weigh the pros and cons carefully before taking the plunge.

Not taking risks certainly allows us to live in our comfort zones. However, it limits our growth. People who do not take any risks will have to be content with what they have. While there is no harm in choosing this approach towards life, in my opinion, each person should strive to make the most of the opportunities available to them. Risk aversion, unfortunately, prevents them from achieving their full potential and in most cases is the recipe for a mediocre life.

On the other hand, taking risks has lots of benefits. In most cases, our risk appetite allows us to achieve a lot more than we hope for. For example, investing in stock market allows people to get much higher returns on their investment. Many rich people in the world made their millions by investing in stocks. Billionaire Warren Buffet is an example of them. He hailed from a poor background and owes much of his success to his risk appetite.

Of course, people who take risks also have a higher chance of losing all that they have. Hence, in my opinion, all risks should be calculated. People should carefully weigh in the pros and cons before taking a risk. They also need to know their threshold. For example, one should never invest all the money they have in stocks. While it is true that stocks offer much higher return on investment, there is also a good chance of losing even the initial capital. Hence, they need to invest in less performing but safer assets as well. By limiting their exposure to risks, they reduce their risk of failure. In the same way, people who quit their job to start business should already have a plan B in place in case their venture fails. Before starting up, they need to secure their family by saving enough for their future. In this case, even if the business fails, they will not end up on the street.

To sum up, calculated risks enable people to achieve tremendous success in all aspects of their life. Risk aversion, on the other hand, makes their life and success less spectacular. Hence, in my opinion, there are more merits than demerits to taking risks.

Manjusha Nambiar

Hi, I'm Manjusha. This is my blog where I give IELTS preparation tips.