Risk probabilities should be built into all financial decisions and do not forget , only risk the money you can afford to lose.
Risk management is what most of us consider when we make decisions as we go through life . Will it last , will it cost us , in time and money. If I do this what will be the result . Can we tell the future ? Not at all but we can use data and estimates to give us the best probability of the result . It does not always give us the result we want but risk is part of life and balancing it out is what we must all do.