How much does luck play in financial security?

[greentea]

Looking at my finances, I feel that I have been quite lucky even though I have a lot of debt that I need to pay off. I grew up in a middle class family and got a good education. I made a lot of mistakes with a credit card, but I'm in a position to correct those mistakes. If I had been born into poverty and made the same mistakes, I'm not sure I would have every been able to make my way out like I am now. That got me thinking -- how much does luck play with financial security?

[rennigade]

Sure, there's definitely luck involved with financial security. No matter how much research you do, what you invest in, theres always chance you could get burnt. The key is to minimize the burnt as much as possible.

Take the housing crash for instance. So many people were flipping homes years before that and making an absolute killing. Those that got in too late/too close to when the crash happened got crushed. But...with that being said, whenever there is a crash there is plenty of opportunity. So yeah...a lot of people lost their homes/life savings....while others scooped up homes at rock bottom prices.

[greenskeeper]

luck is involved in life.....period.