INTRODUCTION: (LUCK AND RISK)

WATCH THE VIDEO TUTORIAL OF LESSON BELOW:

Luck and Risk I should say are both the reality that every outcome in life is guided by forces other than individual effort.

Here is a related idea that is so important to remember when judging both your own and other’s success.
And that idea is; “Nothing is as good or as bad as it seems”
That is the reason every outcome in life is guided by forces other than individual effort. (Luck and Risk).

You can’t believe in one without equally respecting the other.
And how do you judge yourself and others? I know that when judging others you do attribute success to luck, which makes you look jealous and mean right?

And when judging yourself attributing success to luck can be too demoralizing to accept.
That is the reason why judging someone else’s failure is usually attributed to bad decisions, while your own failures are usually and easily chalked up to the dark side of risk.

No doubt about it, very difficult to identify what is luck, what is skill, and what is risk when trying to learn about the best way to manage money.

Below are two things that can point you in the right direction:-

A). Be Warned On Who You Praise And Admire. Who You Look Down Upon And Wish To Avoid Becoming:…

In your career, and money-making goals, just be careful when assuming that 100% of outcomes can be attributed to effort and decisions.

You have to remember that, not all success is due to hard work, and not all poverty is due to laziness. So always remember this when judging people including yourself.

The second pointer is ……

B). Direct Your Focus On Broad Patterns Instead Of Specific Individuals And Case Studies:

Avoid studying the extreme character that tends to dominate the news. Because luck isn’t something you can reliably emulate.

CONCLUSION:

In conclusion, do not be carried away when things are going extremely well because it is not always as good as you may think.

But if you believe that luck brought you success, then you have to equally believe in luck’s cousin which is called Risk.

Which can equally turn your story around just as quickly as you may think. Remember, Nothing is as good or as bad as it seems.

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