In a world of participation trophies and half-full cups, it’s taboo to be negative. But what if negativity is actually GOOD for you? What if focusing on a negative outcome can help you do what’s right?
I tell my clients “first we’ll plan for the bad stuff, then we’ll plan for the good stuff.” In other words, first let’s make sure you’re holding a sturdy, “stuff”-proof umbrella for when the stuff hits the fan (because it always does). THEN you can go dance in the…err…”rain.”
Knowing you have a plan for the worst, doesn’t just help you sleep well at night. It also gives you the steadfastness to stick to your plan.
When stuff hits the fan, rather than executing on an emotional decision (which is also always a stupid decision), you look up at the fan and you go “Huh. How about that?” And you open your umbrella.
If you’re a young family, that means getting life insurance before starting a college fund.
If you’re a retiree, that means knowing your annual budget before booking all your trips.
If you’re an investor, that means knowing how much downside you can stomach, before swinging for the fences.
And if you ever plan on retiring, that means saving 20% before buying a $15 salad for lunch.