How to Avoid Self-Sabotage When Building Your Wealth
The art and science of wealth hacks
I always tell my investing coaching clients that as they study wealth-building that one of the first things you need to do if you are going to be an educated investor, is to see yourself as an investment portfolio. You have value, and you personally have economic value, and what that value is will rise and fall daily based on many different variables.
No matter how skilled an investor you may be, one of the biggest challenges you are likely to encounter is self-sabotage.
Avoiding Self Sabotage
One of the challenges to achieving wealth and experiencing success is patterns of behavior in which an individual or group continues to rationalize their decisions, actions, and investments when faced with increasingly negative outcomes rather than alter their course. Social scientists call this “cognitive bias. In the Wisdom Path Community, we call it “delusional thinking”. For individuals, this pattern is generally motivated by what we call Emotional Holding Patterns. Once emotions come into play, even the most seemingly rational person will act irrationally. These emotions and emotionally influenced thought patterns might include anything from fear, hate, or boredom and may lead us to make poor choices.
When you are a prisoner of your won emotional baggage you will have a tendency to continue to invest time, money, or effort into a bad decision or unproductive course of action. The expression, “throwing good money after bad” describes this behavior. It takes place because you may have “too much physically or emotionally invested” in self-sabotaging thought patterns and the behavior that result from it. What we have to do here is get to the source of our emotional baggage.
What is it that causes those with so much intelligence, passion, discipline and desire for wealth and success to act irrationally often self-destructing in the process? Is it Arrogance? Lust? Passion? Love? Hormones? Brain Chemistry? Mental Illness?”
Ultimately, unless a person is seriously mentally ill due to some genetic or biological factor or just a “bad seed”, it comes down to emotional baggage. Emotional baggage is an everyday expression that correlates with many varied but similar concepts within social sciences, self-help movements, and other fields: Its general concern is with unresolved issues of an emotional nature that cause one to make poor choices based on a distorted perspective on human interaction and what seems rational to most “clear thinking” people. As a metaphorical image, it is that of carrying all the disappointments, wrongs, and trauma of the past around with one in a heavy load and building a wall with it that keeps poverty and struggle in and wealth and success out.
This produces behaviors where we continue to invest time, money, or effort, into bad decisions or unproductive courses of action. The expression throwing good money after bad” applies here because they have too much invested in protecting their dysfunctional sense of personal identity.
I always tell my investing coaching clients that as they study wealth-building that one of the first things you need to do if you are going to be an educated investor, is to see yourself as an investment portfolio. You have value, and you personally have economic value, and what that value is will rise and fall daily based on many different variables.
No matter how skilled an investor you may be one of the biggest challenges you are likely to encounter is self-sabotage.
Avoiding Self Sabotage
One of the challenges to achieving wealth and experiencing success is patterns of behavior in which an individual or group continues to rationalize their decisions, actions, and investments when faced with increasingly negative outcomes rather than alter their course. Social scientists call this “cognitive bias. In the Wisdom Path Community, we call it “delusional thinking”. For individuals, this pattern is generally motivated by what we call Emotional Holding Patterns. Once emotions come into play, even the most seemingly rational person will act irrationally. These emotions and emotionally influenced thought patterns might include anything from fear, hate, or boredom and may lead us to make poor choices. When you are a prisoner of your won emotional baggage you will have a tendency to continue to invest time, money, or effort into a bad decision or unproductive course of action. The expression, “throwing good money after bad” describes this behavior. It takes place because you may have “too much physically or emotionally invested” in self-sabotaging thought patterns and the behavior that result from it. What we have to do here is get to the source of our emotional baggage.
What is it that causes those with so much intelligence, passion, discipline and desire for wealth and success to act irrationally often self-destructing in the process? Is it Arrogance? Lust? Passion? Love? Hormones? Brain Chemistry? Mental Illness?”
Ultimately, unless a person is seriously mentally ill due to some genetic or biological factor or just a “bad seed”, it comes down to emotional baggage. Emotional baggage is an everyday expression that correlates with many varied but similar concepts within social sciences, self-help movements, and other fields: Its general concern is with unresolved issues of an emotional nature that cause one to make poor choices based on a distorted perspective on human interaction and what seems rational to most “clear thinking” people. As a metaphorical image, it is that of carrying all the disappointments, wrongs, and trauma of the past around with one in a heavy load and building a wall with it that keeps poverty and struggle in and wealth and success out.
Takeaway
Self-sabotage produces behaviors where we continue to invest time, money, or effort, into bad decisions or unproductive courses of action. The expression throwing good money after bad” applies here because they have too much invested in protecting their dysfunctional sense of personal identity.
Author: Lewis Harrison is an Independent Scholar with a passion for knowledge, personal development, self-improvement, and problem-solving. He is the creator of Harrison’s Applied Game Theory. His website is AskLewis.com
You can read all of his Medium stories at Lewis.coaches@medium.com.
“I am always exploring trends, areas of interest, and solutions to build new stories upon. Again, if you have any ideas you would like me to write about just email me at LewisCoaches@gmail.com”.
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