Get Comfortable with Being Uncomfortable

I am very much in agreement with this set of advice, though I cannot follow all of it since I am afraid of running out of money, and it is a good decision for me to react to that fear, by not spending.

Cut the cell phone off.

The economy goes up and down always a has always will, just like The universe the big bang and then the big crunch, wait a minute the universe is accelerating at a higher rate, PANIC!

But seriously, those that will adapt survive and those that can't wont (unless you get some bail out)

Thanks for this article!

This is really a good description of what it means to be proactive! at least by my definition.

The only part that's confusing is nr.3 - how can anyone take a worldwide economic crisis personally? I guess some people are very creative at building rackets to help them escape responsibility...

Hi Patricia,

Thank you for your response. And for nudging this conversation a bit.

What I find is that people tend to get their ego involved (especially in hard times or challenging situations) and they personalize it – meaning they generalize the event to be about them or a personal attack against them.

I joke with my trading clients that just because you lose money on a trade does not mean the market is out to get you. The financial markets do not know or even care about you.

To your point, you are one of the few who detach from the source of stress…

How can a world financial crises be personalized to a single person. I agree, it can't; but people choose to let it. while no one would say they single handedly caused it (or even played a part in it) – yet that same person gets depressed and upset by it. Odd, I know. But that is how most people think and behave in times of crises.

Perhaps because it gives them a sense of placement or identity in a crises situation.

Maybe they feel it is better to be a part of something (even a bad something) than to be a part of nothing (and be on your own).

Social psychology has established numerous experiments over the years to support this concept.

I am not a therapist or licensed psychologist and I choose to focus my work on helping people move from A to B. I have found that the reasons behind a behavior are not essential to uncovering in order to modify the destructive behavior.

So, why someone thinks destructively should be less relevant than the fact that they DO think destructively.

People have their reasons – and sometimes they are very good ones. But in the end, what's the difference? Especially if the goal is to change the behavior anyway. I find spending time digging in that direction becomes over-extended and not even necessary to modify a destructive behavior into a productive one. I guess that is the difference between behaviorist and cognitive.

Thanks again, Patricia

Dr Doug

Yeah, right. <Splutter>

Of course the game is rigged, but if you don't play, you can't win! -- Lazarus Long

Some will succeed, some will fail. With hindsight, we will remember the names of those who succeed and call them skillful. But we are seeing a few trials of a zero sum game, and somebody must win. Are we being "Fooled by Randomness"?

I highly recommend this insightful book by Nicholas Taleb.

I am a fan of his book as well.

Dr D

Things will get worse......much worse if people keep talking down their countries economy!!!

Spencer.

Hi Spencer,
I'm convinced that at least half of the doom and gloom is media created.
There must be droves of people with much more money in their pockets due to the mortgage rate being down so low... but they are doubtless hanging onto the spare cash in case things get worse.
I also blame the irresponsible advertising of 'free or cheap' loans... Consolidate your debts into one easy payment and have enough for that holiday of a life time....
NO YOU IDIOTS.. if you are in debt yopu can't have the holliday too.
Those adds should be banned.
Del

Hi DrDoug,

Nice article. To your tips I would suggest adding the ability to be able to identify and separate impulses from rational thoughts. Impulses are harder to resist when you don't recognize them, and often they can appear quite rational, because we rationlize them. I don't think there is anything wrong with giving in to an impulse once in a while, as long as you do so knowingly.

You Wrote:"They know one thing for sure – that in the end, they don't know much of anything"

I've heard this before but I don't believe it, at least, not in the way you've phrased it above. It's not that they don't know much of anything, I think most of us know we don't know much of anything. I think the trick is that they often know specifically what they don't know, and that makes them better at assessing risks.

Roger

"It is a great thing to have a mind so as to come up with reasons to do what we want to do." Ben Franklin. In General Dr. Dougs blog is intended to help us coach ourselves to "greatness", or excellence.

There are basic questions we have in common, like how to get the money to run our lives.

Then there is the swirl of questions that arise from what we know that may have nothing at all to do with basics.

Is the question a luxury question, or a basic question?

That we can know what we need to know, when we need to know it is the hope God offers. -at least in the all knowing all the time concept of an infinite God as applied to the finite life.

The more you know, the better questions you have to ask. Sometimes I do categorize my questions, and seek to be just as happy with what I know, as what questions I have.