Taking a risk

It is important to address that risks would appear all throughout life, so it is important to
evaluate the level of risk and if it is appropriate to take in the current situation to help make
decisions across life. Also, there are many benefits and drawbacks to taking risks in different
situations.

Benefits of taking risks:

Risks can help people attain and reach great things and be fulfilled during their lives.
Additionally, taking risks can help mould stronger personalities when growing.
There are many people who have achieved great success by taking risks, these people
include:
- Elon Musk
- Steve Jobs
- Walt Disney
But is important to realise risks need to be carefully calculated to reach success.

Drawbacks of taking risks:

Taking risks may come with a lot of obstacles and may be draining whether mentally,
physically, or financially. Additionally, reward that comes with taking the risk could not be
beneficial or enough compared to the risk and struggle; accessing and calculating risks may
be time consuming and not worth effort.

When to take risks:

There are different situations and positions that people may be in that can influence the
choice to take risks or not to take the risks. People may take risks when they are struggling,
when reward to the risk can greatly impact their lives, or when the risk is not too heavy, and
the person has less to lose. Others may not take risks as they may be already well off, the
reward that comes with the risk may not be satisfactory, or the risk may carry a large burden
and have and overall negative effect on the person’s life. Furthermore, it is extremely
necessary for a person to scan their personal conditions such as, finances and mental state,
the reward of the risk, and the size of the risk.
To conclude, the risk-taking ability is vital to all people, as every choice comes with certain
amount of risk. So it is a key component to overall decision-making throughout all of a
person’s life.