Money secret No. 12: Risk is good! Learn to tolerate it…and even to love it!

Are you a careful person who would prefer not to take on any risk? Do you imagine all the things that could go wrong, and are you constantly preparing for the worst-case scenario? Then it might be time to exercise your ability to learn and willingness to take risks.

As an investor, it’s good to learn about the different types of risk that accompany a possible investment. That’s important first and foremost because you should choose a risk level and corresponding investment opportunities that you are comfortable with. In any case, the higher the risk, the more likely it is that there’s a higher return. But don’t panic. Generally speaking, you’ll be more prepared to take on somewhat increasing risk the more experience you have with investments and their risks. As you dare to make your first investments, you will most likely get used to the risk over time. You’ll get a feeling for why risk is good, and you’ll grow to understand the advantages of long-term investments. If you’re a little more comfortable with it, a little risk might even be kind of fun for you.

Money secret No. 12: Be brave and take the first step. Settle on an amount you can start with, open yourself a brokerage account…and then just do it!