Hi there! I am new here and eager to learn

I am currently doing an OLS regression model looking at how Emotions affects Risk Aversion. My R squared value is only 0.08 and I am rather worried. Is this a bad thing? I have tried to look at other possible predictors and restructure my model but I am currently still stuck on such a low R2 value. It has been days but perhaps because I am new and unfamiliar to this.

My regression model currently consists of Risk, Emotion(ex: Happy), Age, Net Income, Net Income Squared, Gender Dummy, Unemployment Dummy, Marriage Dummy, Child Dummy, Present Life Satisfaction, Future Life Satisfaction, NativeDummy, SelfEmployedDummy, Optimism, Years of Education, Level of Personal Finance Concern, Level of Personal Health Concern, InsuranceDummy(Public vs Private)

Please advise. I would love to learn!