Did you hear about the following people?

The lawyer that became a doctor.

The doctor that became an artist.

The teacher that became a computer programmer.

The pilot that became a nurse.

The engineer that became a musician.

The actor that became an adventurer.

Do you know what all these people have in common?

They had the courage to know that they wanted to do something different with their lives and took the steps to do so. Some had invested years of their lives to earn degrees that allowed them to practice in their chosen careers, but they didn’t let that hold them back. They were able to overcome the trap of the ‘sunk cost effect/fallacy.’

“The sunk cost effect is the general tendency for people to continue an endeavor, or continue consuming or pursuing an option, if they’ve invested time or money or some resource in it,” says Christopher Olivola, an assistant professor of marketing at Carnegie Mellon’s Tepper School of Business.

Avoiding the sunk cost effect can be a very difficult thing to do because you continue to justify your current actions based on all the time and in some cases money that you’ve previously invested. But that time and money is gone. It no longer exists. The only thing that exists is now.  

There is a lot of guilt associated with the sunk cost fallacy because you feel as though you wasted all that time and money you’ve invested in becoming who you currently are. There’s also the shame of admitting to yourself and others that you no longer want to do the work you’re currently doing. So, you’re caught between the vice of guilt and shame and it forces you to continue to live a life that you no longer want to.

What should you do?

Unfortunately, I can’t help you with that decision. What I can tell you is that memories are short, and people are busy. Soon enough everyone either forgets or is gone. Ultimately you only need to answer to yourself and perhaps those that are closest to you. What matters most is what you think about yourself and the life you want to live. So, don’t let the trap of sunk costs hold you back. Leave what you’ve done in your past and begin to carve out a new future.

P.S. Thanks for reading! If you enjoyed it, please share it with one person you love.