How do you know when it’s time to move on?
More often than not, however, my momentum quickly stalls.
I get overwhelmed or dragged down by what mere weeks or months ago felt like opportunities.
I dont make space for what I want.
Im afraid to give up, and so I hold on to what doesnt serve my goals.
This phenomenon, known as loss aversion, is near universal and has major consequences on our lives.
Unsplash/Design by Cristina Cianci
On average,were twice as motivated by loss as we are by gain.
Considering the unknown is, well, unknowable, how can we ever be sure of when to bail?
Unsplash/Design by Cristina Cianci
The simple fact of it is, humans are hardwired not to take risks.
Unsplash/Design by Cristina Cianci
Its a handy instinct for, say, avoiding ancient predators, but this mindset has its modern-day drawbacks.
“People experience loss aversion due to cognitive bias,” explains Marcum.
The loss felt from losing a resource can feel worse than acquiring it."
In avoiding immediate discomfort, we sabotage ourselves in the long run.
Were also susceptible to another behavioral economics phenomenon: sunk cost fallacy.
“It essentially means not letting go of something because the process has already taken time and energy.
(I speak from personal experience.)
So: How do you know when to pull the plug?
Even after we end things, our relief can be complicated.
In a culture of grit and perseverance, how do we not blame ourselves when things dont work out?
