We focused on investing and the risks, that accompany investors, through an overview of the basics of risk management in the context of investing, and then focused on the psychology of risk in investing. We highlighted and explained the common forms of risks that are present in various investments in financial instruments. With a critical analysis of the field, we present our examples and experiences with investing. Through the framework of the theoretical review of the literature, we analyse the risks we have encountered and the ways or strategies by which we have either eliminated these risks or reduced the probability of their occurrence. We also paid attention to risks, according to our perceptions over the period, from the first investment in cryptocurrencies to investing in shares and index funds.