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Take calculated risks from "summary" of Wisdom from Rich Dad, Poor Dad by Robert Kiyosaki
Taking calculated risks is a concept that many people struggle with. It involves stepping out of your comfort zone and making decisions that have the potential to bring great rewards, but also carry a certain amount of uncertainty. When it comes to investing, taking calculated risks is essential. It's about doing your homework, analyzing the potential outcomes, and making an informed decision based on the information available. It's not about blindly jumping into something without considering the consequences. One of the key principles of taking calculated risks is to have a clear understanding of what you stand to gain and what you stand to lose. This involves weighing the potential rewards against the potential risks, and deciding whether the potential payoff is worth the potential downside. Taking calculated risks also requires having a plan in place. This means having a clear...
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