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

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 9 March 2025

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. 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 Learn more about your ad choices. Visit megaphone.fm/adchoices

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0:30.7	This is Optimal Finance Daily. Why is taking some financial risk important? Part 1 by Vicki Cook and Amy Blacklock of
0:39.3	Women Who Money.com. No matter where you are on your financial journey, controlling your finances
0:46.0	is one of the most important things you can do for your future. While it's challenging to break the
0:51.3	cycle of living paycheck to paycheck or find money to invest when you're
0:55.1	supporting kids or helping aging parents, building your own financial house must be a priority.
1:01.4	Unfortunately, you can't just save money to build long-term wealth. It may seem like the safest
1:07.0	way to get ahead is to keep increasing deposits to your savings account, but your money
1:11.9	won't be making much money, especially if it's out a traditional bank. You're also risking your money's
1:18.1	future buying power to inflation, even if you have a high-interest online savings account. That's why
1:24.2	it's essential to consider taking more financial risk to achieve a greater return.
1:30.0	If you understand your risk tolerance and already have a diversified portfolio aligning with your financial goals, you probably don't need this article.
1:39.0	But if you consider yourself risk adverse, conservative with your finances, or anxious about investing and losing money,
1:46.3	we urge you to keep reading. Your future self will thank you when your net worth grows along with
1:52.8	your confidence. What is financial risk? According to the U.S. Securities and Exchange Commission's
2:00.6	investor.gov website, risk is the U.S. Securities and Exchange Commission's investor.gov website,
2:02.8	risk is the degree of uncertainty and or potential financial loss inherent in investment
2:08.8	decision. All investments involved some degree of risk, even those appearing safe.
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