Home Finance How to reduce setbacks from life’s unknowns and unknowns

How to reduce setbacks from life’s unknowns and unknowns


“Life,” said John Lennon, “is what happens to you when you’re busy making other plans.” We have seen enough evidence of this in the past year.

However, here is a tool, a mental model, a practice that can help us reduce the shocks that the unknown and unknowable of life provide us from time to time.

This is called the ‘margin of safety’ – a widely known but rarely implemented idea – which is an engineering concept used to describe a system’s ability to withstand loads higher than expected. is. In simple words, it is a buffer between what you expect to happen and what can happen (and will often happen).

Life can offer you a raw deal, sometimes when you least expect it. A wide margin of safety ensures that the effects of good decisions are not erased by errors, uncertainties, or mere misfortunes.

Of course, implementing a margin of safety in your decisions won’t make situations go wrong, it will act as a cushion for you and if things go wrong, they are saved.

Be safe Get vaccinated Wear a mask

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