Know Your Limit, Risk Tolerance, And When To Stop Gambling

. Now is the perfect time since the worst of the recession seems to be behind us to reevaluate your own risk tolerance and asset allocations. How well are you diversified? Do you need to scale back the risks you are taking in your investment portfolio? Can you stand another drop in the stock market or are you gun shy now? Know your limits going into the game, and do not get blinded by greed.

This is the fifth post of a seven part series of what Las Vegas can teach us all about personal finance. Check out the others in the series below…

• Post #1 – Invest In What You Know
• Post #2 – You Need Perseverance
• Post #3 – Know The Rules Before You Start
• Post #4 – Do Not Watch Your Bankroll (The Market)
• Post #5 – Know When To Stop
• Post #6 – Do Not Gamble More Than You Can Lose
• Post #7 – Know When You Are In Over Your Head

Just to be clear….in no way am I advocating gambling. If you think that you may have a gambling problem, you should find help as soon as you can. There is help available. You can find help andresources at the Gambler’s Anonymous website, the National Council on Problem Gambling, and the National Center of Responsible Gaming.

© Own The Dollar – This posting originally appeared on the blog, Own The Dollar. Visit the website for more great content.

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