These are excerpts from the author’s book “Deep,” which contains eight of his small books published in the form of Wisdom Literature covering different aspects of life: Facing troublemakers, dealing with pain, personal financial issues, gastronomy, reading, criticizing, inspiring, and feeling always good to go.

Series 3: Pocket – Your Personal Economy.

Week 51: Taking Risk

• Like anything in existence, no investment lives forever. Every project bears with its birth the seed of its annihilation, which is its life span. Be smart in estimating the life span of your investment so that you are not surprised by the end of it with your hands idle. Investments are not like humans; you should not stay with your investment until the last breath.

• There is no investment that is without risk, but it is not wise to enter an investment with uncalculated risk. On the other hand, a very carefully calculated risk is no longer a risk, which most probably deprives the investment of its desired benefits.

• Not moving does not mean that you are staying in the safety zone. Sticking with your current job that you’ve been in for so many years isn’t necessarily the best option when there is already clear evidence of drastic changes that don’t seem to be in your favor. On the other hand, do not rush to leave your place just because of strong recurring rumors of a change you do not like in your current job, even if many colleagues responded to those rumors by leaving for somewhere else.

• Great opportunities often come about because of rare luck or the courage to take risks. Even if you are stable in your work and an opportunity to move to another job emerged—not without major technical or administrative challenges but with a much higher financial return—it is worth thinking seriously and even taking practical steps for planning to move if you feel that the time for change has come and that you can, with some effort and focus, overcome the challenges of the shift.

• Courage to take risks does not mean deliberately looking for risks to take. A promising risk appears to you as does a bright idea suddenly appearing as inspiration that helps you reach safety on any level.

• Since no risk should be taken without even a little—but necessarily deep—study or reflection, the risks that you had taken or you had been earlier exposed to in any way are the best that can help you in your assessment of the risk you are currently dealing with.

• It’s good to learn the lessons of risks others have taken in their similar or even different businesses, but it is important to note that the circumstances accompany others’ experiences do not necessarily apply to you in all scenarios.

• When it comes to the savings you have accumulated over the course of your career throughout your life, never risk all or most of the money. Your investments should be then very carefully considered, and it is wise to stay away as much as possible from taking any risk.

• Risk does not become a risk when you have no other choice. In this case, you should study it carefully and deeply and be ready to implement your plan in case of its failure.

• If, however, you decide to risk all your savings in an investment at any point in your life, you should at least make sure that whatever backup plan you have is effective in case the investment fails.