Risk Management
When considering your wealth creating strategy you need to understand your own attitude towards risk, which will be a function of your personality, your experiences in life (once bitten twice shy) and to some degree your age (the younger you are the more time you will have to recover from for example a stock market crash).
Personality
take a test e.g. Myers Briggs
Keep in mind that risk and reward go together in life and if you want big returns you're going to have to accept more risk - and if you're inherently not comfortable with risk using such a strategy will keep you awake at night and is unlikely to successfully contribute towards your wealth creation - you won't be the first investor to buy a high risk and reward investment at a market high only to sell it at a loss if you don't have the stomach to ride the nauseating stock market rides associated with this.
Experiences in Life
Age
When considering your wealth creating strategy you need to understand your own attitude towards risk, which will be a function of your personality, your experiences in life (once bitten twice shy) and to some degree your age (the younger you are the more time you will have to recover from for example a stock market crash).
Personality
take a test e.g. Myers Briggs
Keep in mind that risk and reward go together in life and if you want big returns you're going to have to accept more risk - and if you're inherently not comfortable with risk using such a strategy will keep you awake at night and is unlikely to successfully contribute towards your wealth creation - you won't be the first investor to buy a high risk and reward investment at a market high only to sell it at a loss if you don't have the stomach to ride the nauseating stock market rides associated with this.
Experiences in Life
Age