For an investor, there’s nothing worse than being “dumb money.” Smart investors sell down positions when their thesis is proven wrong.
But do we ‘sell down’ investments in our personal lives?
No, because that’s when even the best decision-makers get irrational.
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Ever stayed in a relationship years past its expiration date?
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Worked at a job just because it paid well?
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Maintained beliefs from your parents that you never bothered to update?
We hold onto poor ‘life investments’ far longer than poor financial ones. Why?
Because our identities and egos get tangled in our choices.
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We fear looking like we failed.
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We get trapped by others’ expectations.
And the pain of correcting a mistake feels worse than trudging down the wrong path.
But you can recover from financial losses. You can’t recover lost time.
If your career/relationship/habits were a stock with the same ROI, would you buy or sell?
Life investments are where your decision-making really counts. Don’t be “dumb money.”
Talk soon,
Navin Thukkaram
P.S. Pic below from recent Valhalla Ascend men’s retreat in NYC