Diversify your assets. Don't invest everything you have in a single asset. Strive for more passive income and diversify your assets, which is what you really need to do. Insuring your assets and businesses is a logical move. Because in the event of an unexpected loss or damage, insurance can ease the financial burden and save you from a major loss.
For example, if there is a fire at your workplace or a valuable item is stolen, you can compensate for some of your loss with insurance. There is always risk, so I think this type of protection is very important.
An ideal investor must have an investment portfolio, otherwise even if he succeeds from his investment, he will not always be able to maintain the same consistency. The investment portfolio mitigates the risk by distributing all the possible risks of an investor among different sectors, which is a very important issue for investment. Again to make the investor's portfolio profitable, it is very important to set objectives, select investment areas based on the ability to take risks, and keep investment costs to a minimum. In addition, insurance is very important to deal with risks, which plays an effective role in protecting assets.