3067: [Part 1] Why Is Taking Some Financial Risk Important by Vicki Cook & Amy Blacklock of Women Who Money

Optimal Finance Daily - Financial Independence and Money Advice

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Episode 3067:

Vicki Cook & Amy Blacklock emphasize that controlling your finances is key to securing your future, but simply saving money isn’t enough to build long-term wealth. Inflation erodes purchasing power, making it essential to take calculated financial risks for better returns. By understanding risk tolerance, diversifying investments, and aligning strategies with financial goals, even risk-averse individuals can grow their net worth while maintaining financial security.

Read along with the original article(s) here: https://womenwhomoney.com/why-is-taking-some-financial-risk-important/

Quotes to ponder:

"While a savings account or CD seems like a low-risk money move, losing buying power over time is still risky."

"Putting all your (financial) eggs in one basket isn’t a wise thing to do."

"If you can’t risk losing any of your money, you should reconsider your plan to invest."

Episode references:

Financial Industry Regulatory Authority (FINRA): https://www.finra.org

U.S. Securities and Exchange Commission’s Investor.gov: https://www.investor.gov

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