Risk Vs Reward. Is it better to play it safe or take risks?

We’ve all heard the cliche “the bigger the risk, the bigger the reward”, but when the risk doesn’t work out, are there still rewards to be found? 

It’s inevitable in life that we are going to be faced with having to decide to take a risk or not, whether it’s taking a risk in love, in our career, achieving a goal, moving to a new city or starting a business for example.

But is there a difference between real risk and perceived risk? And how does the perception of risk affect our mental health?

In this episode of Reframe of Mind, podcast hosts Louise Poole & Andy Le Roy explore those uncomfortable feelings of stepping outside your comfort zone and share personal experiences from matters of the heart, to leaving jobs with no plan in place, to starting a business, and look at both the perceived risk of those choices, like humiliation and failure, and the real risks like physical threats and financial loss. 

They are joined by Psychologist and Associate Professor Kimberley Norris, University of Tasmania, who tells us about the importance of risk in maintaining happiness and Scientia Professor Joe Forgas AM, University of NSW, who shares some observations on our ability to forecast future emotions.

We also hear from New Zealand Explorer Brando Yelavich who speaks on why taking a risk is important, Former South Australian tactical police officer Derek McManus who explains how risk is managed, and ask Dr Dinesh Palipana OAM and 2021 Queensland Australian of the Year if the risk he took in backing himself, pursuing a career in medicine, and becoming Queensland’s first quadriplegic doctor was worth it.

Show notes, resources and transcript available at www.reframeofmind.com.au

 

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