Effective risk management requires identifying and planning for three categories of risks: known risks (banking, currency, market, economic, and geopolitical risks that everyone faces), individual-specific risks that vary between people, and unknown risks (unforeseen disasters or calamities) that must still be planned for despite their unpredictability.
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Why Your Current Risk Plan Is Incomplete #wealthpreservation #wealthAjouté :
As we are building a system, then you need to assess the risk that you are facing.
Now, we talk about risk in the channel a lot.
We talk about the known risk that we all face.
Banking risk, currency risk, market risk, economic risk, geopolitical risk.
These are risks that we all face.
Then there are risks that, well, you face and I face that are different. Then there are unknown risks.
You know, the disaster that comes out of nowhere, and yet we are to plan for that. The calamity that we never saw coming, yet we are to plan for that.
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