There is no one-size-fits-all answer to when you should take risks with your money because your unique age, goals, and financial situation will all play a role in determining your risk strategy at a given point in time.
Taking calculated risks early in life can help accumulate assets. However, as retirement approaches, it's vital to adjust accordingly and focus on protecting what you built to avoid overextending yourself and jeopardizing your financial security.
In this episode of Money Script Monday, Michael advocates for mindful financial planning built around your goals and risk tolerance to strike a balance between growth and preservation for long-term stability.
Resources Provided for This Episode
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