How much risk should I take and how should this depend on whether I have a family or other factors?
That is a really interesting question. And something that I do not have a straightforward answer for, but I will try my best. To better understand your own risk tolerance, you should ask yourself a few questions. Generally speaking, how do you feel about risk? Do you see an opportunity for great returns or are you more concerned that you will be left with nothing? Once you have answered those questions honestly then you may start to have an idea of what sits well for you. Furthermore, when determining your risk tolerance, it is also important to understand your goals. What is your time horizon? When do you plan to withdraw the money that you have invested?
So while I haven’t given you any concrete answers, I hope that I have been a least a little helpful.