Every career involves choices; every choice involves risk. But being able to size up those risks, and think coolly about which are worth taking, can make the process of choosing between options much easier. The problem? Most of us aren’t actually very good at evaluating risk. In this episode, Isabel Berwick speaks to statistician, writer and sometime poker player Nate Silver to find out how we can take better risks in our careers. Silver, founder of analysis website FiveThirtyEight and author of the new book On the Edge: The Art of Risking Everything’ explains why fear plays an outsize risk in our decision making, how to recover when a bet doesn’t pan out and why your 60s might not be the time to avoid risk.

Want more? Free links:

On the Edge by Nate Silver — the risk-takers who beat the market

We need to be better at predicting bad outcomes

Interview with Nate Silver

Presented by Isabel Berwick, produced by Mischa Frankl-Duval, mixed by Simon Panayi. The executive producer is Manuela Saragosa. Cheryl Brumley is the FT’s head of audio.

Read a transcript of this episode on FT.com

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