You're Young. Now Is The Time to Take Risks
Zvi Bodie is the Norman and Adele Barron Professor of Management at Boston University. He holds a PhD from the Massachusetts Institute of Technology and has served on the finance faculty at the Harvard Business School and MIT's Sloan School of Management.
Professor Bodie has published widely on pension finance and investment strategy in leading professional journals. He is the co-author, with Rachelle Taqqu of the newly released Risk Less and Prosper: Your Guide to Safer Investing.
Bodie's other books include The Future of Life Cycle Saving and Investing andFoundations of Pension Finance. His textbook, Investments, coauthored by Alex Kane and Alan Marcus is the market leader and is used in the certification programs of the CFA Institute and the Society of Actuaries. His textbook Financial Economics is coauthored by Nobel Prize winning economist, Robert C. Merton. His latest book is Worry Free Investing: A Safe Approach to Achieving Your Lifetime Financial Goals. In 2007 the Retirement Income Industry Association gave him their Lifetime Achievement in Applied Retirement Research Award.
Now is definitely the time to take risks. I have two daughters, both of whom are now grown and married, with kids. One has two kids, the other almost has two kids, she’s due very soon—twins. They were each waitresses. My older daughter hated it, but my younger daughter actually has pursued a career in the restaurant business.
The beauty of the restaurant—if you’re a waiter, that’s a very portable skill. I’m sure they have restaurants in Montana, they have them everywhere. So you can earn a living wherever you are and it’s a great time to travel. In fact, I tried to persuade at least one of my daughters that she ought to work on a cruise ship. That struck me as a great way to get to see different things. But she gets seasick too easily.
Orangutans join humans and bees in a very exclusive club
- Orangutan mothers wait to sound a danger alarm to avoid tipping off predators to their location
- It took a couple of researchers crawling around the Sumatran jungle to discover the phenomenon
- This ability may come from a common ancestor
Giving our solar system a "slap in the face."
- A stream of galactic debris is hurtling at us, pulling dark matter along with it
- It's traveling so quickly it's been described as a hurricane of dark matter
- Scientists are excited to set their particle detectors at the onslffaught
Journaling can help you materialize your ambitions.
- Organizing your thoughts can help you plan and achieve goals that might otherwise seen unobtainable.
- The Bullet Journal method, in particular, can reduce clutter in your life by helping you visualize your future.
- One way to view your journal might be less of a narrative and more of a timeline of decisions.
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