so the theme of this video is how do you
know when to walk away how do you know
when to change direction and make a cold
break move on to something new and
really just walk away and this is a
really tough thing to do it's a tough
thing to do for everybody and I think
especially for us NFP types because we
are so open to possibilities and and I'm
going to actually include ent Peas I was
just out with an intp friend of mine and
you know we're all about the
possibilities and solutions and finding
ways to make things work so just to say
no that's not working or no I don't want
to do this it's not really aligned with
us the problem is if we you know as the
saying goes if we throw good money after
bad
we can end up losing not only money but
a lot of time now if you spent much time
learning about psychology or poker for
that matter you've probably heard the
term sunk cost fallacy this is where
people tend to make bad decisions
because we evaluate our current decision
based on our past decisions and what
we've invested in terms of time or money
even if that time or money is already
lost so the general principle here is
that whenever you're making a decision
you should look at where you're at in
the moment sorry if you see me looking
down as I'm literally looking at my
fingers as I'm hand talking to myself
here it's weird right I'm like learning
from myself so you should look at your
current situation what you would lose or
gain from your action in the moment not
what you've already invested so I
mentioned in the update video yesterday
that the investment I was looking at in
the Ukraine that things did not work out
and that's sort of the inspiration for
this video and what really made me think
about it
and also what I'll use as an example to
help really convey it so without getting
into too many details and sounding like
some kind of a soap opera here before
coming to crunch time to actually sign
the agreement and move forward on this
one investment
there was a string of other decisions
and investments that went on little
things and ultimately by time we were
getting to the investment part the the
big signing and all that on my end I'd
probably put in somewhere between let's
say two and three thousand dollars that
would be lost if we were to walk away
from the main investment now some of
that money arguably would be lost
regardless right it's tough to explain
it all without getting into too many
details but when it came down to this
final decision of thinking about okay is
this a good call to try to make this
work to stick things out one of the
things that can pop into your head is
hey I've already put X amount of dollars
into this right I put all this time I've
been to Ukraine twice I've lost effort
and time I could have put into other
things and so I don't want to lose that
if I walk away that's all for nothing or
you know we can chalk it up to like a
life lesson and I blah blah blah and I
actually do believe that I do believe
that there's a lot of value in our
lessons but you know we can chalk that
up to something like that but there's
that feeling of if I go now I've
accepted a loss it's done I have lost
that money whereas if you keep going you
can chase this belief that I'm going to
make it back I'm going to make that time
all worth it etc but sometimes the signs
keep pointing to this is bad like maybe
you've been in a relationship for two
years and you fight a lot and things
aren't perfect but you started the
relationship when you're 27
you're now 29 and you're thinking to
yourself I gave this person two years of
my 20s like that's prime dating time you
know do I really want to waste have
wasted that time maybe we can find a way
to make it work right it's this sunk
cost we feel like we've invested
something and we don't want to have lost
that the thing is is you don't get that
back regardless that time is gone so if
you've had two years
of a mediocre or a bad relationship
having another year of a mediocre or bad
relationship that's not gonna make up
for those first two years it's just
another wasted year same way is if
you've followed an investment and maybe
you've had a disproportionate amount of
stress or anxiety about it or just
generally lost some money on it
continuing down that investment route is
not going to make up for that if
anything you're going to end up losing
more so in many many cases it's better
to cut things off right have a clean
slate and just say hey this has been
lost this was a learning experience or a
bad investment but I'm going to start
fresh and I'm going to move on in my
case with this specific investment in
this whole plan that's what ultimately I
decided to do in the minute I accepted
that I felt so much better I felt this
new energy back and it was kind of let's
say proof that it was by far the right
decision and the right move
this can be really really hard to accept
there's a natural bias we have to
consistency to moving in the same
direction and momentum can be really
powerful and really dangerous so if you
do find yourself in a situation whether
it's a relationship business partnership
some kind of investment anything that
you've been doing where you feel like
you're trapped and everything in you
says like I shouldn't be doing this this
is not the right move this feels like
too much work or like there has to be a
better way to do things don't feel like
you are trapped don't feel like you have
to keep going because you are it might
be really difficult to change direction
right it's like a giant freighter ship
it's really hard to initially change
direction but what you'll likely find is
when you do you feel an immense relief
and ultimately things work out a lot
better and you'll be surprised by this
the people around you will accept it a
lot better than you would think all the
chaos and anger you imagine probably
won't actually happen in reality anyhow
those are just my two cents my
thoughts on it as I go this it was a
very recent thing but I think this is
really important it's really easy for us
to get trapped in a direction and feel
like we can't change things up you know
I didn't mention in the video but even
like a career path you know I've
invested this much money or time in law
school or in my career and I can't
change but hey if you're not happy now
get out well you can write off that
investment and move on in the comments
below let me know if there was a time in
your life when you felt like you
couldn't change direction that you
couldn't walk away and then you did
anyhow and how did you feel after and
how did that work out share that with me
in the comments I read every single
comment thank you for watching I may do
another video or probably more likely a
podcast and really go into depth on the
Ukraine and my investment and the
partnership I had there and you know
lessons from that and anything I can
share so if you're interested in that do
hit the subscribe button and check out
the podcast as well I publish a lot of
exclusive content there that I don't do
here on YouTube just because it's maybe
longer form or just doesn't really fit
here as well maybe I just like don't
want to do my hair that day and I can
record a podcast and not a video
whatever it is check that out as well
I'll have a card pop-up here with a link
to the podcast thank you for watching
and catch you in the next video soon
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