If we can’t survive without our hedges, they aren’t hedges.
Stability defangs people. And without fangs, it’s very difficult to survive in the wild.
This typically happens in one of two ways:
First, you become increasingly dependent on stability (attachment to job titles, lifestyle inflation etc).
Second, other people become increasingly dependent on you (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.
And while some downside is necessary (probably even desirable), it’s worth making these trades with open eyes.
Let’s recap everything we've covered.