(light music) (click) – So, I was originallygonna release a video today about email optimization, but it feels like kind of a weird time to be giving out productivity tips.
So, I'm gonna save thatone for another day.
(light music) So, right about now, pretty much everything you could imagine is getting canceled from festivals toconcerts, even my wedding.
To be honest, I was a littlebit upset when we first had to postpone ourwedding an entire year, but compared to the NBA, I don't know.
It just seems like not that big of a deal.
♪ Happy birthday to you.
♪ Now, this is a serious time and it requires serious action, and it's gotten me to thinkabout how people respond when they're faced with that tasteless, odorless, scentlessthing called uncertainty.
So, you can see it in the stock market on a pretty much daily basis as things continue to seesaw from record highs to record lows.
The only thing that you canguarantee right now is that things will continue to remain uncertain.
But if you prepare accordingly, this should not be a time to panic.
Allow me to illustrate.
This is what I like to callthe axes of uncertainty.
When faced with uncertainty, we have very limitedoptions with what we can do and how we can react.
You've got those who are under prepared, those who are over prepared, and everywhere in-between, and people who react emotionally with a range from panic to calm.
Up here we've got those who arepanicked and under prepared.
It's your classic deer in headlights.
You recognize that there's a problem.
That you should probably do something, but you're just so damn scared that you fail to take any kind of action.
They're usually the firstpeople to be eaten by zombies.
I mostly feel bad for these people.
And down here, we've got those who are under prepared and calm.
At a time like this, yourparents are probably down here.
You might find yourselfdown here for a few reasons.
Maybe you've becomedesensitized by the media always fear mongering thatwhen a real crisis happens, you don't believe them.
Maybe you trust thewrong sources entirely.
Anyway, not a good place to be.
It's not a great place to be because you're not thinking critically and when it's reallyimportant to take action, it's either too lateor you failed to do so.
Zombies are gonna eatthese people as well.
Ah, and up here.
A lethal combination ofpanic and over preparedness.
These are the people who go out and buy a year longsupply of toilet paper.
I don't blame them, really, because panic is know to causemassive bouts of diarrhea.
But when you clear out all the hand sanitizer and canned soup, you're being a dick.
It's both selfish and shortsighted.
They're so panicked that they aren't rational enough to prepare mindfully and as a result, theytoo get eaten by zombies.
Don't be that person.
Finally, down in this lower right quadrant is really where you want to be.
Say, right around here.
You're cautious, you've taken the necessarysteps to prepare, you've got enough non-perishable food and essential medical suppliesto last you a few weeks, and you remain calm knowing that you've done everything you possibly can.
And as a result, you'll probably be ableto fight off the zombies.
But even if you are calm, admittedly, you can still be over prepared.
And what to note here is thelaw of diminishing returns when it comes to preparedness.
The more you prepare, thebetter you'll be able to tackle whatever problem it is that you're facing.
Up until a certain point, when those benefits begin todiminish and then flat line.
Continuing to prepare beyondthat has diminishing returns.
At this point, you'resimply wasting your time.
And it could crash even further when people's opinion of youand your community change because you hoarded all the toilet paper because of your diarrhea panic.
And now, here's the real beautyof finding your sweet spot on the axes of uncertainty, and a lesson that can be applied to any major project in your life.
You follow a simple checklist.
Do enough research tomake an informed decision, take effective actionwithout overdoing it, stay calm knowing you did all you could, adjust your plan as newinformation comes out.
So, this is personally how I approach my retirement investments.
And it's precisely whyI'm not freaking out, and I'm not panicked right now that there are such highs and lows, and that it is so volatile at the moment.
Because you have to look atit long-term, big picture.
So, I invest in a 401k and I update the balanceof them every year depending upon what my returns are.
This is basically just themaintenance that I need to do to make sure that it doesn't sway too far into stocks or too far into bonds, and it's perfectly balanced to match the risk that I'm willing to tolerate.
But other than that, wedon't touch that money.
We put it in and we ignore it.
Through good times, through bad times.
I'm not celebrating whentimes are going really well.
And times like now when things aren't going very well at all, I don't panic as well because I know that I'm in it for the long run.
We put our money in knowingthat we're not gonna touch it for 30 plus years untilwe need it at retirement.
And, of course, once weget closer to retirement, we're gonna then adjust slowlyover that period of time to make sure that it's evenmore secure and even more safe, and take much less risks thecloser that we get to age 65.
In this specific case, I've done all the research I need to do when it comes to my ownpersonal investments.
I understand that, since 1923, there's been an averagereturn of over 10%.
So, I know that, again, in the long-term mymoney is gonna be safe.
You've really gotta think big picture.
You see, when it comesto everything in life, you're only guaranteed acertain amount of certainty.
Let's say this bucketrepresents my wedding.
You can fill this bucket with research, planning, and action.
You weigh the risks, the pros and cons, and prepare for as many contingencies you feel comfortable preparing for.
But there's only so much you can do, you can't plan for everything.
And this is where you needto embrace uncertainty.
This is the area that's unplannable.
It's your rain delay, yourcar accident, who knows.
Maybe even a pandemic.
You simply do the best you can and know that everythingelse is out of your control.
And there are thousands ofdifferent areas in your life where you need to accept uncertainty.
There will always, always, always be things outside of your control.
And the only guarantee in life is that shit's gonna hit the fan anddisrupt your plans eventually.
So, the sooner that youget used to the fact that there are so many things inlife that you can't control, the sooner that you can adjust, adapt, and change your plan accordingly.
No matter what happens to you in life, you always have a choicefor how you can react and how you respond in those moments.
At times like this, I understand that it's difficult not to get anxious, or nervous, or emotional.
Even myself, I find when I'mwatching the news too much.
When I'm getting intothis habit of checking every 15 minutes andseeing what's happening.
What's the latest? What's going on? I start to find myselfcreeping up towards panic.
Never to the point of hoardingtoilet paper, to be clear, but I do find that I pushmyself further and further into panic just basedupon how I'm reacting, and the media that I'mconsuming in the moment.
One important thing to leave you with as we head into even more uncertain times, let's do our best tohelp lift each other up.
Give each other a hand, help those who maybe are facing even more difficult circumstancesthan yourself right now.
In fact, my sister, who is an art teacher, was recently told to go homefor five weeks without pay.
Which kind of sucks.
So, I actually hired her tohelp me make all these graphics.
This one right here, as well as all these.
All these graphics, aren't they awesome! She did the zombies, she did the deer.
Toilet paper stuff.
She is incredibly talented and I wanna give her a huge shout-out.
So, if you guys wanna support her work, there's a link down in the description.
Go say, “Hi” to her.
Follow her on Instagram.
Show her some love.
Most importantly, showthe people in your family, in your community some love.
Not physical love, wecan't do that right now.
But emotional, financial.
All that other stuff.
We can all do our own part, making the world a little bit better.
Thank you guys so much for watching and I will see you next time.