Too late for change?
When is it too late to change and when is it time to?
Change is part of the universe and there are many things we are capable of changing.
First to mind might be to change clothes, our hairstyle or diet. Next could be a change in attitude or the proverbial changing of our mindset. The list is endless of the things we can change and the same would go for the things we cannot ad infinitum.
The important changes in our lives are sometimes easy and sometimes difficult but the hardest part of change is realizing the need to.
Sometimes small corrections in direction or speed might do the trick when negotiating the roads, waterways or skyways if piloting a vehicle of some sort. Other changes could save our lives such as a change in lifestyle, diet or exercise. Change in financial habits can save us money or even make us more. Changing jobs or careers could make us both more money and more happy.
Changing our lifestyle might apply if one had chosen the wrong path in life which resulted in poor mental or physical health or just plain plunked us down in a group of people that were not conducive to our life expectations. Even changing locations or residences can result in monumental alterations from current situations.
What to change might be obvious or hidden. Why we should change is usually obvious but not always. Sometimes people see no reason to change and therein lies the most difficult part of altering paths.
For example, suppose an investor loses millions using a trading strategy that repeatedly fails. Or an overeater gets a note from his Dr. their blood pressure is too high and cholesterol is through the roof. In both examples, the need for change is obvious. But many times the need for change can be obscured. Ego can make change an admission of failure. Not an option for a person with a high ego. Addiction can mask the reason for change through chemical or mental euphoric and reoccurring “hits”, making any change not only undesirable but possibly painful because of the nature of withdrawal. A lack of will power might be to blame or perhaps external conditions such as finances or even incarceration might also make change impossible. The list is endless.
But the meaningful and willful positive changes in one’s life that are controllable, doable and deliberate can be rewarding in many ways. Financial changes can result in less debt and more income. Changes that address addictions can make for a happier and healthier life. Changes in lifestyle, career, residency or peer groups may make for better outcomes in the long run. Again the list is endless as are the positives from making such change.
Realizing there is need for change is step one. Regardless of what you think you need, like, require or are addicted to, taking a step backwards and being honest with yourself and your particular situation is required in order to change.
The need for change is not always self-realized. Others might drop hints, make suggestions or bring up the issue directly either through honest conversation or even the radical and often last resort of “intervention”.
No matter where you are or think you are, reoccurring negative outcomes and consequences are signs that perhaps something needs to change, and at least being open to the conversation with yourself is the beginning of possible change. If friends or family are making comments or even being ignored entirely, that could also be a red flag that perhaps something needs to change in your life.
Is it ever too late to change?
Arguably no. Eventually a change in direction albeit late in a cycle will yield at least some results. The sooner you make a change, assuming it’s a positive one, the sooner you will begin seeing positive results. Even change late in the proverbial game will likely help something.
Unfortunately there are things in life that cannot be undone as that is the way the world works. Somethings are permanent. You just can’t go back and undo them.
But I am of the belief, no matter whether it’s financial, personal, medical or what have you, the willingness to change does yield some kind of result, even if it’s just the improving the self-respect of the individual making that change.
Regardless of whether it’s early, right on time or even very late, the saying “it’s never too late to change” may be a concept we should grasp tightly and never let go.
It brings to mind something I heard once somewhere: “God, grant me the serenity to accept the things I cannot change, the courage to change the things I can, and the wisdom to know the difference” (Reinhold Niebuhr (1892–1971).
Being a financial columnist, I will sum this up by saying it is never too late to change investing strategies. Better late than never certainly applies to revising a financial strategy that isn’t working. The longer you wait, the less money you will make by going to a more successful plan. And it goes without saying, the longer the wait to make a change, the more money you will likely lose.
This article expresses the opinions of Marc Cuniberti and our opinions only and should not be construed or acted upon as individual investment advice. Mr. Cuniberti is an Investment Advisor Representative through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Marc can be contacted at MKB Financial Services 164 Maple St #1, Auburn, CA 95603 (530) 823-2792. MKB Financial Services and Cambridge are not affiliated. His website is www.moneymanagementradio.com. California Insurance License # OL34249