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Just like in basketball, sometimes in your financial planning you must shoot the 3 pointer. Man that sounds so cheezy, I sound like Marlin Perkins from Mutual of Omaha's Wild Kingdom, but be that as it may, yes, sometimes you need to take a risk and crank up the 3 pointer.

So what in the world could I mean by this ungainly metaphor? Well stay with me on this one, sometimes the following "risks" are calculated and called for in your financial plans:

• Buying a house, when you think you can't afford it. I don't know anyone who has actually bought a house and said, "Yes we could afford it", everyone I know is nervous as hell when they buy a house, but owning a house, as long as it's not on a toxic waste dump is usually a good investment. Now I am not condoning:
• $0 down schemes to flip houses
• Mortgage fraud schemes for profit
• Any other shady deals to do with real estate
• Start paying off bills, and making sacrifices in your families spending. Yes to some people this is a risk, not spending $4000 on Christmas this year, instead, pay off your debt. Your spoiled kids might get really pissed off at you, but at the end of it, having no debt is a better place to be (and maybe it will teach your kids the value of money as well).
• Open a trading account and start learning how to invest. Yes, this one is risky, and it takes a certain amount of common sense, but read a lot, with an eye towards what makes sense to you, and start investing in your future. Don't just buy Mutual Funds assuming the management of those funds know what they are doing (they might, but they are making a lot of money off you for doing it).
• Go into your bank and tell them you aren't paying $25.00 a month to have the priviledge of them to hold your money. Say you are going somewhere else if they don't lower their rates, what's the worst thing they can do? Say No? Big deal, of course be ready if they call your bluff to go somewhere else as well.

Take a risk does not mean buy lottery tickets, hold up a bank, or embezzle funds from your employer, take SMART risks!!! -C8j

Oh and the young lady sinking the 3 pointer is my daughter :-)

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