Andrew Stotz – Valuable Risk–Reduction Advice from Guests

<p>Recently, I posed this question to some of my prior guests, “How would you advise a young person to reduce risk in their life?” The answers rolled in from 40 guests! I grouped the responses into five categories: Building valuable relationships, managing finances, personal growth, risk management, and having awareness. There are tremendous pearls of wisdom!</p><h2><strong>Valuable relationships – Communication with loved ones, mentors, and friends</strong></h2><ul><li>Don’t be afraid to ask for help</li><li>Seek out trusted friends, family members, and mentors and listen to them</li></ul><br/><p>&nbsp;</p><p class="ql-align-center"><strong>“Don’t be afraid to ask for help.”</strong></p><p class="ql-align-center"><a href="https://myworstinvestmentever.com/ep60-corey-hoffstein-beware-of-pure-story-driven-investing/" rel="noopener noreferrer" target="_blank">Corey Hoffstein</a></p><p>&nbsp;</p><p class="ql-align-center"><strong>“At each stage in your life, find mentors and friends you trust and who you feel are invested in you – listen to their advice.”</strong></p><p class="ql-align-center"><a href="https://myworstinvestmentever.com/ep9-colin-mclean-risks-in-value-investing-when-to-cut-loss-on-a-declining-stock/" rel="noopener noreferrer" target="_blank">Colin W. McLean</a></p><p>&nbsp;</p><p class="ql-align-center"><strong>“Get married, listen to your wife, stay married.”</strong></p><p class="ql-align-center"><a href="https://myworstinvestmentever.com/ep10-michael-markels-investing-on-a-hunch-why-an-exit-strategy-is-important/" rel="noopener noreferrer" target="_blank">Michael Markels</a></p><p>&nbsp;</p><p class="ql-align-center"><strong>“Alongside your time and money, the most important asset allocation decision you will make is with the trust you invest in a select few people: your spouse and family, your friends, those you work with, and those you entrust to take care of whatever or whomever you cannot personally care for. (You’ll note your choice of fund managers and CEOs of stocks you buy only fits into t