Obviously, picking the right stocks is one of the most important aspects of investing intelligently. However, as a young investor, you have a lot less to worry about - namely retirement and wealth maintenance. Because preserving your nest egg needn't be your first priority (you have plenty of years ahead of you for that) you can take on a greater amount of risk than your parents.
Source: http://www.investopedia.com/articles/younginvestors/06/portfoliomanagement.asp
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