Our annual family ski trip is right around the corner.

With an average temp of 65 degrees in San Diego and over 260 days of sunshine each year,

going to the snow is a pretty big deal for us, so much so that our kids have been counting down

the days since last year's trip ended.

Just four more sleeps, my six-year-old told me on our morning walk yesterday.

While all he's thinking about is how much faster he's going to go down the mountain this year,

all I've been thinking about is, I hope nobody gets hurt. Five years ago, Morgan Housel published

a personal, tragic story about what skiing taught him about risk and investing.

I've read it countless times and I think about it every winter when I'm headed to the mountains.

This year is no exception.

Welcome to Stay Wealthy podcast.

I'm your host Taylor Schulte and today I'm sharing Morgan's story and using it as an opportunity to talk about risk.

Not just any risk, but arguably the most difficult form of risk for investors to understand,

and the only one that really matters.

To view the articles and research supporting today's episode, just head over to

you staywealthy.com forward slash 237.

Bestselling author Morgan Housel grew up ski racing. And in his wonderfully written article

titled The Three Sides of Risk, he shares the tragic details of an event that he lived through

roughly 24 years ago.

It was in early 2001 when a couple of big storms hit Squaw Valley in Tahoe that he and two of his

closest friends decided to head out of bounds and ski the backside of the mountain. Fresh, untouched

snow, no rules, and challenging terrain. It's what every experienced skier is after.

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