Hello everyone,
So, once again a conversation with Cali made me think about risk aversion and risk taking. I have traditionally been very much a risk taker with my money and still am to some degree. I always liked gambling and was willing to put money up for big returns and be willing to lose it. Most of that was due to being in a financial situation to even be able to do it. Now that my financial situation has changed pretty drastically, I am finding that I'm becoming risk averse. I'm just curious about where other people fall into risk categories. I kept it very, very basic. I didn't know what amount to use, it should be an amount that wouldn't completely destroy you financially to lose, but also an amount that you REALLY don't want to lose. I figured one - three months of income...something where you would be upset if you lost it. Thanks, Meghan

I'm 100%

Does that mean I'm right?



Nice. 

I'd put it all on one stock. There is nothing like compounding. I'd either lose it all or double my money. With great risks come great rewards. I picked the third option.

I'm boring with money. ^_^
So I voted the first option.

I do tend to take risks with non-financial things though.

Money? I just don't care. Throwing it in a bank means it's their problem to watch over it. Maybe not smart, but I just hate thinking about money. So it's worth it to me to have less of it if having more means a hassle.

However, I've been on the "sharp end" of a climbing rope enough times to "prove" I'm a risk-taker. I only take risks that have real consequences (not mere financial ones).

I voted for the first option. I've never been a big risk taker when it comes to money. I'd rather be able to count on having X dollars when I need/want it.

Not that I could save a month's income right now anyway. Being bipolar I have this tendancy to buy things that catch my eye.

i dunno about that stuff.. but when ya said risk taker.. yeah. like physically. like surfing while stoned outta your mind, jumping from high in a tree to on a tampoline then into a pool. ->-bleeped-<- like that. yeah i do alot of risk crazy ->-bleeped-<-.

I would put in to my 401K at work.  At least that way I would get 100% match at the end of the year but the company.  And the stock could always split.

Janet

I don't usually take risks with money *unless* I have some kind of control over the situation such as when to put it in or take it out of the risky situation based on how I feel it will turn out.  A number of years ago, Wells Fargo had some kind of Wellstrade test drive where you did trades on paper and they started you out with $100,000 and gave you 1 month.  There were over 10,000 people entered in and I came back #1 because I ended up more than tripling that amount.  I've gambled at casinos before 3 times.  The first time I lost $1, but overall I've made around $50 because I knew when it was time to stop.  So, I didn't answer because my answer varies based on more specific information.

I'd do a diversified market fund. $3000, although a lot for me today isn't that much to place in the market or on a single stock anyway. Spread it out and let it grow some over a ten year period. Then you can bet the farm!!

Nichole

I'd hold on to that money. ->-bleeped-<-, that's almost enough for some kinds of top surgery (I could be wrong, but I read somewhere...)

Or a motorcycle. Hot damn!