I have been thinking about this a lot, the fear of loss and more importantly, the fear of missing out (FOMO). So, let's talk about the fear of missing out. This is when, for example, you go to the dentist and you're sitting in the chair. The dentist is working on you and you can't really talk because you've got your mouth full of stuff, and they're just espousing whatever's going on in their world. Now, let's say they're an avid investor and all of a sudden, they give you a stock tip, and you're thinking, “Oh, that's great, thanks for the information.” You are thinking, “Oh, my dentist just gave me a stock tip and I don't want to miss out.” Now, the first question you might want to ask is, why am I even thinking about investment tips from my dentist. But secondly, is that fear of missing out, I am going to miss out on the potential.

You don't even know what that investment looks like and you’re not really sure what the company is, however, somebody that has our respect as a professional has said something to us and now we're left with this fear of missing out on the opportunity.

Now, maybe you go and invest some money, and it might even be money that you can't really afford to put at risk, but you do it anyhow, because of this fear of missing out. That feeling, that something else is better, potentially than what is going on right now or what I am currently working on myself.

The feeling is that you're going to be left behind. You don't want to feel foolish and you don't want to look like an idiot, so you act on this. Maybe it works out? However, most of the time when we're in a place of wanting to take investment tips from our dentist or hairstylist, it's usually when the market is frothing over; in other words, lots of money is being made and everybody's a genius.

To me, that's not the best time to be doing this. The fear of missing out, however, is a massive driving force against us. We can see it in our comparisons to others. What does my neighbour have? Ooh, they just bought a new car, or I'm missing out because they just went on vacation. So, we begin to make decisions based on other people's lives and experiences, rather than what's real for us, and that's where we want to check-in. Am I making this decision based on this is what I really want?

Thomas DeSchutter Business Success Coaching

Bloom Your Money, Your Life - ebook

Bloom Balance™ Sheet

Bloom Conscious CashFlow™

The Bloom Living Podcast™

How to Overcome Fear Of Loss And Pursue Your Dreams by Celestine Chua

FOMO Addiction: The Fear of Missing Out by John M. Grohol - Psy.D.

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