Owning a portfolio is like operating a business – no matter the size – both will bring you a number of risks that can dramatically alter your success and potentially cause you financial hardship.
But you can protect against those risks by creating a Risk Management Plan in very simple steps:
- Identify the risk
- Assess the likelihood of the risk
- Attack the risk
- Periodically monitor and review the risk
There really are just four ways of dealing with risk. You can:
- accept it;
- transfer it;
- reduce it; or
- eliminate it.
But good risk management will improve the likelihood of your portfolio – and your business – succeeding. Let us help build a customized risk management plan for you.