If we can’t survive without our hedges, they aren’t hedges.
Stability defangs people. And without fangs, it’s very difficult to survive on our own.
This typically happens in one of two ways:
First, we become increasingly dependent on stability (attachment to job titles, lifestyle inflation etc).
Second, other people become increasingly dependent on us (marriage, children etc).
You can imagine how this compounds.
When we have more downside, we’re less able to tolerate losses.
This makes us less likely to expose ourselves to the real world, and thus less able to survive without support from external structures (like employers).
As the future becomes more uncertain, this dependence becomes riskier.
So where's the sweet spot?