Risk taking is a necessary evil and understanding how risk taking pays off is important. Risk is part of history and present in every domain of life. Waging war over scarce resources, hunting for food, mate selection – all these activities contain risk. And they require courage.
A family home is often the most valuable asset that a person acquires during his or her lifetime. Particular care should be taken when planning your estate to ensure that your home is left to surviving heirs without any problems.
In economics, the Laffer curve is a representation of the relationship between rates of taxation and the hypothetical resulting levels of government revenue. The Laffer curve intends to illustrate the concept of “taxable income elasticity”.