I think there are always perceived risks or opportunity costs to doing or not doing something, but I mostly believe risk tolerance is built through having confidence in one’s own abilities or ability to affect outcomes.

As someone with a high-risk tolerance, in my life, I genuinely don't think I have acted "risky" or have made risky decisions. From a strict signaling perspective I may have made a risky decision by dropping out of school or declining specific jobs, but what does that affect does it actually have? Will my median predicted outcomes of success alter dramatically when labeled as "non-college graduate" or "no-FAANG experience"? Am I supposed to care about what happens at the median?

For my personality, it would have been risky if I stayed in school. I don't like to show up to class, I like to work on my projects, and in my free time meet people from the internet who like the stuff I make. So…how risky would it be for JP Morgan to employ me as an analyst that would happily proofreads decks? Probably fairly risky with emphasis on the "happily".

Risk tolerance is like self-esteem either you have a lot or don't and your external behaviors will convey the answer. So as conscious beings with free will, we have the agency to impact the world and use our energy bring likeminded people together to will our collective desired outcomes into existence.

Essentially, to perceive risk is really to perceive fear; and that is most definitely a choice.