I've literally written a dozen of answers, that I then removed, because that question that you asked goes in the direction of life planning and life goals, it turned into a kind of personal exploration, but also I can talk horse for hours. because this place is trolled by ais and dimwitted copy cats, whenever I hit some deep truth in the many answers that I've written, I'm reluctant to just post them to public like that, so I'll be brief and somewhat superficial: horse business is very volatile, as is it can provide me with a modest living, as I get better I get better control of volatility, but then I encounter some global effects, that I didn't think about. For example horse business was booming during covid for obvious reasons, but then we had an economic downturn, and last year on top of that we had drought, so everyone I know is hurting. but a lot of volatility is inherent: you can buy someone's field puppy at discount, who is otherwise papered, well broke and sound, put him through few months of tuning, and then hit jackpot because two people got into a bidding war, going way above the value. on the other hand there's all kinds of events that can eat away at horse's value, vet visits, freak accidents, and the longer you hold him the higher the probability. in the most catastrophic cases the value goes to zero. getting good margins takes a lot of experience. there comes I believe a point of certainty, where you've been doing it long enough, you've settled in your niche, you have a global view of risk profile, you have mitigations in place, you're no longer faking inner stability in front your heard, you are living it, when things just work, I'm not quite there yet, but I'm sure I will be.
