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Don’t Turn a Large Fortune into a Small Fortune

Don’t Turn a Large Fortune into a Small Fortune

Investing

Don’t Turn a Large Fortune into a Small Fortune

Attitude plays a large role in how we make investing decisions. So, oddly enough, can how you made your money in the first place. People who got the bulk of their money from an inheritance or a windfall tend to be conservative and have a low tolerance for risk. Others, who made their money actively by taking on risk and being more aggressive, tend to put less emphasis on risk aversion.

If you built your wealth actively, keep in mind the confidence you developed could eventually work against you if your goal is to accumulate and hold on to your wealth. Make sure your portfolio is well balanced and helps to preserve your wealth as well as increase it. Unnecessary risks can turn a large fortune into a small fortune.

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