“How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” –Robert G. Allen
Everything has some level of risk to it inherently. Many of them are so low we hardly ever think twice about walking to the grocery store, or depositing a check. You may get hit by a car, the value of the dollar could rapidly decline. But we are assured by our experience and logic, that such things likely won’t happen, and have decided to be better of without worrying about such things.
I’ve learned there is no absolute way to hold on to your wealth. And even if there were, why bother? Suppose the what I call the zombie Apocolypse of the Economy occurs. What use will your piles of gold, and golf courses be? Certainly not your dollar bills.
So decide how Risky you want to be, and then you’ll have a relative amount of wealth.
However being Risky is a quick way to lose wealth. The fastest way I know to make money is in a Casino. It’s also the quickest place I know to lose it. So many pay people to tell them how much risk to have in their lives. It’s a curious practice. They generally say if you’re young you can afford more risk than if you are old. I maintain you are the best decider of such things.