Often people believe that high risk equals high returns. We might even think of the wealthy as big financial risk takers but the truth is they do many things to reduce risk. Warren Buffet for example was famous for not investing in tech companies not because he doesn't see value but because he doesn't know the industry well enough. In other words he invests in what he knows. Having a solid working knowledge in what you are investing in is a form of mitigating risk and I don't think being profitable is an issue for Warren when taking less risk. Some refer to investing but what they are doing sounds more like gambling. The common concept is to put money in your 401k or IRA for 40 years and hope you have enough money to retire on. This is a risky move. Do you know what your are invested in? What are the fees? What will the taxes be on the distributions? Often these questions are not considered because they were told the average rate of return for the S&P 500 for the last 20 years is 10% so it will all work out. The concept of the "average rate of return" can be very misleading. Thankfully you can have a strategy with real numbers and not far fetched projections. You can know what you will have in 5, 10, or 30 years. It doesn't have to be a "hope for the best" situation. It also doesn't have to be now or later. You can do both. Buy vehicles, real estate and other large ticket items now with the same money that will also fund your retirement years. Thats why we call it "the and asset". You don't need additional risk to make your money work hard for you.
"Investment decision should be made on the basis of the most probable compounding of after-tax net worth with minimum risk."
Warren Buffett