Take Risks Or Be Forever Controlled By Your Job

Are you a mid-career professional in your 30s who finds it difficult to take any risks?

Are you someone who has given themselves to their job and just goes with the flow?

It is a common occurrence among several mid-career professionals and the reason that bounds them is the various kinds of responsibilities they have to fulfill including family and financial responsibilities, and socialization.

They have EMIs to pay, education of their children to invest in, and whatnot.

But what they fail to understand is that the farther they move away from so-called risks, the farther they move from financial freedom. ??

Not taking risks might reduce your chance of experiencing losses, but it will also cost you some huge profits and opportunities.

Here is how you can increase your capacity to take risks:

1. Know The Difference Between Asset & Liability

The only way to become rich is to acquire assets, but a lot of people invest in liabilities thinking that it’s an assets.

Remember what Robert Kiyosaki mentioned in Rich Dad, Poor Dad: your car is not an asset, but a liability, because its return keeps on reducing with time. Similarly, if your house is a mortgage, it will become a liability.

2. Start Investing Early

The earlier you start, the better.

Let your money multiply on its own. Invest in assets like SIP (Systematic Investment Plan), Mutual Funds, Stock Market (if you’re good at it), PPF (Public Provident Fund) etc.

3. Work On Yourself

Having too many skills is never a waste, so make sure to master your skill set and work on yourself. When you work on your personal self, you also work on your professional self.

You are the most important project that you’ll ever work on! And while you’re at it, also work on your financial education!

4. Keep Side-Hustling

Do some side hustle, so that you have a second source of income.

Try generating as much passive income as you can, so that if you don’t have growth in your job, or if there’s some workplace tension, or if you’re planning a career switch, you have something to rely on!

What do you think about this? Let’s have some discussion in the comments section! ????