We looked at the idea of taking risks in your 20s. Regardless of how you feel about the notion of taking chances with your time and money, I wanted to share some investment risks that I believe are worth taking in your 20s.

Going back to school to upgrade your skills.

If youre not happy with your current spot in your company or with how much money youre earning, you always have the option to upgrade your skills. This is a risk because youre going to give up an income if you have to quit your job to go back to school. The other risk is the time involved. If youre in your late-20s, youre giving up a few good years.

On the upside, this risk is definitely worth taking because investing in yourself is much more beneficial than complaining about your income or your job. By upgrading your skills you can increase your income, find a new job that you enjoy much more, and even improve your self-worth.

Starting some sort of a business.

As you can tell by now, Im a huge fan of starting your own business in your 20s. The beauty is that you can start a side business with no money right now. The major investment here is going to be the money that you decide to pour into your business and the time that youre going to have to invest. The good news is that your youthful enough in your 20s to work on your own projects in your spare time. I dont recommend quitting your job or going all out. You need to be realistic. I recommend trying to monetize a hobby and then working on it until you replace your current income. Im not a supporter of quitting your full-time gig.

Traveling often.

Traveling costs money and takes up time. I have many friends that just dont see the ROI in traveling. They think its a waste of time. They dont want to spend the money. I personally love to travel and plan on going on five trips a year for the next few years. One thing that I try to stress is that you can easily travel the world on a tight budget.

The financial risk of traveling is that youre going to spend a ton of money and not get a whole lot in return. Im not going to tell you that traveling will always be worth it. Thats for you to experience and decide on your own.

Switching careers.

If you dont see any upward mobility or are just plain tired of your field, you can always switch carers. Of course, switching careers is easier said than done. Youre going to either have to upgrade your skills (as mentioned above) or just quit your job to apply in other fields.

Switching jobs is a financial risk because theres no guarantee that youre going to enjoy your new gig. Theres also no guarantee that youre going to succeed or even get into your new field. Is the risk still worth taking? Yes. You owe it to yourself to find a job that you can actually enjoy doing until you retire.

These were the main risks worth taking in your 20s that came to my mind. Im sure there are other risks that few of us would consider (moving to a new country for work), but thats another topic for another day.

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