Risk Leads to Reward
I'm not a super outgoing person most of the time, and yet to some I might seem like a big risk taker.
When it comes to some things I'm certainly not averse to risk.
Many of the items on my bucket list might be considered "risky" by most standards.
They're not all that unusual though.
I'm sure many others share a desire to do things like skydive, bungee jump, climb mountains and adrenaline adventures like that.
I can also be a bit of a risk taker when it comes to things other than just sports or adventures.
In my past, I've taken on a number of challenges that could be viewed as risky.
In my early 20′s I set out to build my own house.
I didn't really have a clear laid out plan for how I would manage all of the moving pieces of a venture like this, I just decided it was something I wanted, and I would find a way to get it done.
Financially, it was a bit of a risk..
I was young and single.
Granted, I've always been pretty good at managing my money, but I didn't have a clear understanding how a builder's draw mortgage works.
Essentially, the mortgage amounts (or draws) get released by the bank in stages as you progress with the construction.
I had to get the foundation built and inspected before the bank would cut the first cheque.
I remember having to empty the big Texas Mickey I used as a piggy bank for loose change in those days just so I could put gas in my truck to get to work and then the jobsite after work.
I took a big risk taking on a big project like that, but in the end I got to reap the reward of owning my own home and the pride of accomplishment knowing I had done much of the work myself.
Another example of taking a big risk was deciding to leave my full time job about 5 years ago.
I had worked my way up with the company I was working for to a point where I was asked to take a management position.
The allure of a pay raise was enticing, but the thought of being even more involved in the drama of a sour and disgruntled group of co-workers wasn't the environment I wanted to be in on a daily basis.
I let the owners of the company know that I intended to focus on my own business and leave my job by the end of the year.
Leaving that job was a big risk.
I had a wife, and two young children at home.
Not having a regular income has been a big challenge.
Thankfully, through the hard work and extra effort my wife and I had dedicated to building our own home, and buying other investment properties we had a substantial amount of equity to use to support us.
That's not a strategy that I would suggest others pursue in hind sight though.
It's certainly hard on the nerves watching that nest egg dwindle away while you're busy trying to build a new business and the money just isn't coming in yet.
What I do know is that the reward of taking that risk has been priceless.
My primary motivation for making that change was to be able to spend more time with my family.
I know I can never replace the hours that I missed when my kids were very young, and I seldom saw them.
That's the driver that keeps me focused on creating the lifestyle that supports being here for my family.
When it comes to some things I'm certainly not averse to risk.
Many of the items on my bucket list might be considered "risky" by most standards.
They're not all that unusual though.
I'm sure many others share a desire to do things like skydive, bungee jump, climb mountains and adrenaline adventures like that.
I can also be a bit of a risk taker when it comes to things other than just sports or adventures.
In my past, I've taken on a number of challenges that could be viewed as risky.
In my early 20′s I set out to build my own house.
I didn't really have a clear laid out plan for how I would manage all of the moving pieces of a venture like this, I just decided it was something I wanted, and I would find a way to get it done.
Financially, it was a bit of a risk..
I was young and single.
Granted, I've always been pretty good at managing my money, but I didn't have a clear understanding how a builder's draw mortgage works.
Essentially, the mortgage amounts (or draws) get released by the bank in stages as you progress with the construction.
I had to get the foundation built and inspected before the bank would cut the first cheque.
I remember having to empty the big Texas Mickey I used as a piggy bank for loose change in those days just so I could put gas in my truck to get to work and then the jobsite after work.
I took a big risk taking on a big project like that, but in the end I got to reap the reward of owning my own home and the pride of accomplishment knowing I had done much of the work myself.
Another example of taking a big risk was deciding to leave my full time job about 5 years ago.
I had worked my way up with the company I was working for to a point where I was asked to take a management position.
The allure of a pay raise was enticing, but the thought of being even more involved in the drama of a sour and disgruntled group of co-workers wasn't the environment I wanted to be in on a daily basis.
I let the owners of the company know that I intended to focus on my own business and leave my job by the end of the year.
Leaving that job was a big risk.
I had a wife, and two young children at home.
Not having a regular income has been a big challenge.
Thankfully, through the hard work and extra effort my wife and I had dedicated to building our own home, and buying other investment properties we had a substantial amount of equity to use to support us.
That's not a strategy that I would suggest others pursue in hind sight though.
It's certainly hard on the nerves watching that nest egg dwindle away while you're busy trying to build a new business and the money just isn't coming in yet.
What I do know is that the reward of taking that risk has been priceless.
My primary motivation for making that change was to be able to spend more time with my family.
I know I can never replace the hours that I missed when my kids were very young, and I seldom saw them.
That's the driver that keeps me focused on creating the lifestyle that supports being here for my family.
