In my shares portfolio, there are some shares from a particular company, which has stagnated slightly below the purchase price. Many times the temptation to sell off these shares and invest in shares with better yield gripped me, still I did not sell them. Even when I was missing good opportunities, just because I invested and waited for so long, I want to sell them either equal to or more than purchase price, and that is a foolish idea.
Then this has taught me to observe other things in life I am unnecessarily clinging to, just because I have invested lot of time and energy. This include a face book group created by me, which has around 10,000 members, a youtube channel with about 1800 subscribers. Just because I have spent lot of time and money in nurturing them from ground zero, even after knowing that I am not enjoying them any more, I am unable to delete them. I have seen many marriages where the couple continue to live in agony till death separate them, because they already lived a few years together. They must either decide to live happily or decide to separate. I can say this confidently because I am living in a country where the happiness index is very low and at the same time the divorce rates are also very low. The sunk cost syndrome can happen with relationships with people, pets, jobs, organizations, hobbies….
The only way out is practicing detached attachment, so it becomes easier to shrug of those interests, which are no more interesting. Instead of doing the ‘to do lists’, people like me, plagued by too many activities will benefit by creating and implementing ‘not to do lists’ periodically.
Are patterns like these hampering our progress?. Is this a common phenomena for every one?, or is this just my problem?.