While the payoff for these financial risks isn’t immediate, you will reap the benefits for the rest of your life…
Still afraid to take the plunge? Read LifeDaily’s 5 Financial Risks Worth Taking:
1. Traveling abroad
Seeing the world can be one of the most rewarding things you will ever experience. Not to mention, it will get you out of your bubble, and allow you to expand your mind and see what else is out there. There are many programs available for young people to travel abroad, and many opportunities available within college. If you didn’t go away in college however, and you think you missed the boat, you couldn’t be more wrong. While you must have the funds to travel, you can make do. You will come home with a fresh mind and new perspective, that may earn you more money than you were making before.
2. Attending college
There is no better place to put your money than in school. No matter what people tell you: “It’s a waste” or “You don’t need a degree for that,” an undergraduate and graduate school degree is invaluable. While some just go to college because they are forced (by family for example), some actually go because they really want to. They want to learn, and they know that there is no better outlet to do so than school. If you go to poor countries, they will tell you that they would die to be able to go to college.
3. Quitting an awful job
Even if you don’t have another opportunity lined up immediately, choosing to quit a job that you hate, and because you can’t take it anymore is a smart career decision. If your job is starting to take a major toll on your mental health, it’s time to walk away. A boss that doesn’t respect you or show his/her appreciation, will probably never respect you nor show their appreciation. If you can’t see yourself working at your job for many years to come, then it’s time to find a new one.
4. Investments in the market
While it is true that investing comes with risk, we’re talking about calculated risks here. For e.g., not throwing your cash into stocks carelessly. Young people are warming up more to the idea of making investments in the market, and this is a smart choice. It is certainly better than wasting your money on a night out, or on a handbag, or pair of shoes. At least with investing there is a chance of not only making your money back, but making a large sum on top of it. While there is no actual guarantee of this, or even of a break-even return, smart investing is a calculated risk worth the potential long-term rewards.
5. Major relocation
While just picking up and relocating can be super scary, sometimes it’s the best thing you can do for yourself. Pursuing an opportunity that takes you outside of your ‘norm’ or social sphere is always a good idea for you. If your job offers you an opportunity to relocate, don’t hesitate to take it. A strange and new city means new possibilities, and new experiences that will enable you to grow as a person. When you’re young and unsure of where you can see yourself living for the rest of your life, you will never be able to know for sure that you love where you’re living, if you’ve never lived anywhere else.
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5 Financial Risks Worth Taking is a post from: LifeDaily