Winter Wonderland – A risk worth taking? by John Reynolds

What does this picture make YOU feel?

This picture was taken by one of our ex-students: it’s a person skating on a frozen Loch above Aberfeldy in Scotland on 2 February 2019 (Saturday past). [Photo taken by Andrew Macintyre, Director and Chartered Financial Planner, Macintyre Wealth Management Ltd]

It was published on social media and it got me thinking about risk.

It got me thinking about how people react to risk in different ways.

There are a lot of exam questions on risk – from pension transfer risk to investment risk to market risk. So inevitably we spend a lot of time reading about risk in its various forms.

But, what do YOU see here?

We all think we know the risks relative to what we perceive to be our own reality, but what are the risks? Real and imagined?

How can each individual assess them accurately, if they don’t have the data, expertise,  understanding or experience in dealing with the risks?

Or, if we do rely on the ‘experts’ to tell us if it’s ”safe”, how does that make us feel – and what do we need to know to feel that the risk advised by the expert, is appropriate from our own perspective?

This example could be applied into a number of different situations – and I’d love to hear what your thoughts are? What is your assessment of the risks in this picture?

In the debate so far, some really interesting observations have surfaced – here’s just two to consider:

i) As expertise increases, risk decreases.

ii) Many will like the idea but won’t attempt it. We need these individuals (skating on the loch) to take the risk, in order to succeed or fail, so that the majority can then make a calculated decision…

We’d love to hear your views on ‘’risk’’ and this skating analogy.

And how this could be applied in the context of risks within tax planning, pension planning or investments.

Drop us a line – it’ll be fascinating to hear your views….and great practice in describing risk from EVERY perspective.