Rule 6: Take a little risk
You
could put all your money in bonds and sleep well at night knowing
you’ll probably never lose any of your money. But with that approach,
you’re not going to retire a millionaire either.
Stocks
and real estate are where the money is to be made, but then there is
always the risk of a housing bubble bursting or the market crashing.
Take heart, though, in knowing that stocks and real estate have
historically appreciated in the long run.
(http://finance.yahoo.com/news/10-golden-rules-retiring-rich-160040271.html)
(http://finance.yahoo.com/news/10-golden-rules-retiring-rich-160040271.html)
No risk, no reward. Little risk, little reward. Big risk, big reward.
It is alright to take a risk. It is alright to take a risk and fail. Success without failure is rarely known. Success without setbacks is rarely known. Few people are successful in all their endeavors, nevertheless, they dust themselves back off and start again and take another risk.
Its like learning how to ride a bike. If your child falls off and wants to quit, you encourage them to keep trying. If they fall off 10 or 50 times you encourage them to keep going. Why? Because you know they will eventually get it, be successful and ride the back with ease!
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