Shilpi and I are headed to Acadia National Park up in Maine this weekend. We need a little vacation from city life and this is a perfect time to do it (except it’s a BIT cold right now!)
I decided to do a second video on risk management because it’s so freakin’ important that you get this right.
Here’s what you need to understand: there’s a BIG difference between making money and KEEPING it.
Disclaimer: I’m NOT a licensed financial advisor or attorney, seek professional advice before doing anything.
Watch this video now, comment and tell me what you think…
Amit,
Nice advice on managing risk in terms of earning/spending money. You are right, look at people like Michael Jackson who made hundreds of millions but almost dead broke. Another example, Mike Tyson made millions and until recently was doing some shadow boxing shows to make few extra dollars.
Keep them coming. Hope you mix some ppc stuff too.
Thanks.
Hi Amit,
Good post.
Should I leave a $7000 per month managerial job to go full time Affiliate Marketing (for a relatively newbie) if the full day job is leaving me exhausted, stressed, affecting health and very little for IM?
Your reply appreciated.
Tks.
Hey Greg
I recommend you do NOT quit your job until your making $14k/month profit through affiliate marketing for a couple months AND have paid off all consumer debt you may have.
Trust me on this. My affiliate income plummeted after I quit my job if I wasn’t making over 2X my job income and hadn’t paid off all my consumer debt I would have been in a serious bind.
The best “low risk” investment system you can park your money in: BankonYourself.com
Although you are not a licensed financial advisor or attorney but you do share better advice than most financial advisors. Continue to follow your direction…
Hey Amit, great topic here. If you have a basket that is filled with holes, you can never get enough water in it. Thanks for the lesson.
Cheers,
Vincent
Thanks for another Great Video Blog Amit. People who take caluculated risks they bank the most, and people who jump off the fence and leave everything behind too quickly fall on their faces too quickly and lose first. Always calculate every new move before it is too late.
God Bless
If you really want to take a lesson on risk management, get this book: Security Analysis. It’s by Warren Buffet’s mentor, Benjamin Graham. It is hands down, the most impressive investing/risk management book I have ever read.
Benjamin Graham recommends limiting exposure to risk by buying securities that are worth more than their market price. In the book, the process of finding and valuing securities is outlined.
In the process of finding undervalued securities, you learn about what makes a good company, and what doesn’t. The same rules apply to building your own business.
Can’t recommend it enough. Get it from the library if you have to. This is THE book that got Warren Buffet excited about investing.