When is it OK to speculate?
What will be an ideal response?
Answer: It is OK to speculate when you have some extra money to lose. It is not OK to speculate with money that you can't afford to lose because it will interfere with your standard of living or achieving you long term savings and investment goals. Speculating is just liking gambling at a Casino. It can be very exciting and pleasurable when done responsibly with a few extra dollars that you can afford to lose. Sometimes you win but most times you lose most or all of your money. Speculating is just too risky for your important money. Don't risk your long term financial security by gambling.
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