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I think the importance is having a risk mitigation mechanism in place before you pursue your high risk dream. This often takes the form of some form of wealth o
by sfifs 5y ago
I think the importance is having a risk mitigation mechanism in place before you pursue your high risk dream. This often takes the form of some form of wealth or capital.
My wife has a childhood friend and a cousin who were both very talented in Indian classical music in their youth and regarded as potential stars. The friend came from a well to do family, the cousin from a lower income family. The friend didn't really need to pursue a college degree in a professional field and take up job to make ends meet and instead could devote the entirety of higher education and focus to music because even if she doesn't succeed monetarily, the family still owned several properties and the rental income and capital appreciation could give enough of a passive income for survival together with say teaching.
No such luck for the cousin who now does music as a hobby when he can.