A client of mine is between a rock and a hard place. Like millions of people in America today, this person thought that buying a kind of real estate, over-leveraging, and betting on speculation was the smart thing to do. It has since blown up in her face and now she finds herself making a lot of money, but owing more than she makes every month.
The key is to let it all go, and this has been a tough process. Admitting that she has not accomplished what she set out to accomplish or that admitting that she made a mistake is the absolute critical first step. She’s embarrassed. She doesn’t want to look bad. She’s afraid of what people will think. These negative future prophecies that her mind is hitting her with keep her stuck and not moving forward. She has not been taking the action she knew she needed to take 18 months ago, so here we are today in a much worse position.
This is the same kind of behavior that I suppose gambling addicts have. They just keep thinking, the next time I’m going to win, the next month, I’m going to win, the one next one I’m going to win, and then I’ll bring it all back, and I’ll be victorious, but ultimately, it has shot her in the foot, and she has lost hundreds and hundreds of thousands of dollars in the process. The key is to just admit it and let it all go, to know that if you have built it once, you can build it again, that people make mistakes. Disney even went bankrupt, and he was a pretty smart guy who built a pretty amazing thing. It’s okay to admit your failures and let it all go.