write a 400-600 word paper responding to the following 1.define and describe four different types of risk from your textbook that apply to your personal financial situation but what actions might you take to avoid or mitigate risks?

Three main components necessary for us to understand our risks and behaviors reviewed throughout this chapter Risk was the first component, and the discussion of risk helped us to see the components that create an opportunity for loss or hazard. An understanding of these risks lead us to an understanding of certain fears, which we described as our fear of failure or a fear of the future. Finally, the risks we Per ceive and the fears we feel lead us to behave in certain ways as sinful fallen beings. We can either assume these risks or in some cases we can transfer this risk to others, evaluate our risks, we then look at how those such as an insurance company. As we risks steer us into fears that can influence our decisions. Mark 4:40 provides a snip- pet of Jesus's response to fear: WHe said to his disciples, 'Why are you so afraid? Do you still have no faith?" Recall that the disciples and Jesus were in the boat when a storm came, and the boat was beginning to take on water from the waves. We are to hold fast to our faith and not be afraid of the things of this world- Because our world involves risk and we all carry with us a certain amount of fear and anxiety, we tend to use risk and fear to make decisions, and ultimately reveal our behaviors and reveal our biases, Many of our behaviors and biases influence our financial decisions, such as how we use mental accounting or confirmation bias to support our actions, and lead us into making decisions based on something other than objective facts and