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Risks in the financial plan

Starmix

Starmix

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Do you agree that there are hidden risks inside a financial plan? Financial risk refers to the possibility of losing money on a business or investment decision. Risks associated with finances may lead to capital losses. These risks may include credit, liquidity, and operational risks. To avoid this, you need to invest wisely, increase your revenue stream, set aside funds for emergencies, reduce your overhead costs, and get the right business insurance. The other thing to do is do strategic planning and weekly inventory. to get updates on the sales flow and the strengths and weaknesses of your business or investment.
 
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Suba said:
Of course, my dear friend, where there is profit there is also risk or threat of loss, the greater the profit offered, the higher the risk. So we must be able to manage and adjust investment instruments to the risk profile.
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It is not easy, especially on the kind of investment we would have. In my case, I only invested in Mutual Funds and insurance. I do ot have an idea of what to invest this time.
 
Starmix said:
It is not easy, especially on the kind of investment we would have. In my case, I only invested in Mutual Funds and insurance. I do ot have an idea of what to invest this time.
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Before investing in anything, we should identify the risk profile we have, the method is very easy, you only need to personally answer a few questions honestly. But if someone doesn't know the risk profile, it's best to invest in low risks such as mutual funds, government bonds and gold, etc.
 
Suba said:
Before investing in anything, we should identify the risk profile we have, the method is very easy, you only need to personally answer a few questions honestly. But if someone doesn't know the risk profile, it's best to invest in low risks such as mutual funds, government bonds and gold, etc.
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I have invested stocks in a private college and government university and receive my share every year during the stockholders meeting but I left it there to gain additional profit in the next stock holders meeting.
 
Starmix said:
I have invested stocks in a private college and government university and receive my share every year during the stockholders meeting but I left it there to gain additional profit in the next stock holders meeting.
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That's very good, in fact investing is not only to hope for high returns, but we also need to guard our hearts so that they don't sway violently when we see drastic price drops, so we also need to prioritize peace and tranquility.
 
Suba said:
That's very good, in fact investing is not only to hope for high returns, but we also need to guard our hearts so that they don't sway violently when we see drastic price drops, so we also need to prioritize peace and tranquility.
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That is so right, we have to give our best to face squarely whatever fate our investment may face. It's a normal thing. It will be better ot to speculate too.
 
Starmix said:
That is so right, we have to give our best to face squarely whatever fate our investment may face. It's a normal thing. It will be better ot to speculate too.
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In my opinion, investing is more speculation than evaluation and calculation, as I am currently doing, I sold 10% of the Bitcoin I own at a price of $37k, even though many predict the price of Bitcoin will strengthen to above $40k in 2024.
 
Suba said:
In my opinion, investing is more speculation than evaluation and calculation, as I am currently doing, I sold 10% of the Bitcoin I own at a price of $37k, even though many predict the price of Bitcoin will strengthen to above $40k in 2024.
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I am so happy for you. I am expecting that from you. By 2024 you can sell your bitco or invest more and more. That costs millions. It is good money already.
 
Starmix said:
I am so happy for you. I am expecting that from you. By 2024 you can sell your bitco or invest more and more. That costs millions. It is good money already.
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I only try to use take profit opportunities when prices are bullish, and I think prices will fall in 2024, so I only speculate 10%. So I also don't really hope that my predictions are correct or not.
 
Suba said:
I only try to use take profit opportunities when prices are bullish, and I think prices will fall in 2024, so I only speculate 10%. So I also don't really hope that my predictions are correct or not.
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Just believe your prediction is correct because that's also the prediction of the crypto and bitcoin analysts. Just be positive and I'm positive on that too.
 
If you expose your financial plan to the unknown friend of your competitor that's a concrete example of risk. Your competitor may advance himself to perform the business plan. It's best to be keen and cautious to avoid getting caught by your unknown business rivals.
 
It is difficult if not impossible to prepare a perfect financial plan. There must be some underlying risks because you are planning for the future. Anything can happen which we cannot foresee. That's why we should always check if there is a need to update the plan according to the changing situation from time to time.
 
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