How to become invulnerable - or Margin of Safety
Wouldn't it be great to be immune to damage, it would allow you to do all sorts of things you never could do before, take new risks and open new opportunities. While this one won't allow you to jump out of a plane without a parachute, it will give you a lot of other abilities.
The margin of safety is an invaluable concept, most famously popularized by the book by Seth Klarman and other value investors, but applies to almost any area of life.
Do you want to start a new career or move across the country to try and build a new life, if you have built up a margin of safety you can take that risk without fear. The lack of fear will help you be confident and improve your chances of success.
One of the big worries people have is of losing everything and what a margin of safety will give you is protection from the downside. If you want to start your own business, having a margin of safety will keep you from shutting your doors at the first downturn. If you have one in your investing portfolio, a big market crash won't leave you destitute (heavy margin trading is the opposite of this a downturn can make you sell at the wrong time creating a vicious downward cycle).
When you are looking at a new endeavor figure out what you need to try it safely
*If you want to jump out of a plane - Bring a parachute
*If you want to start business - build an emergency fund (this protects against general finacial downturns)
* If you want to try a risky new job, build up your old contacts and credibility so you have an easy way back if you need one
* If you want to build cutting edge athletic skills - Work on your building blocks and your athletic base
You will face many challenges no matter what you do in life, if you can plan to have a margin of safety built in you can make it through these challenges and come out stronger on the other side.