Sunk Costs are Distractions

Sunk Costs are costs you’ve incurred in the past that can’t be recovered. There’s nothing you can do about them. Yet, they influence our decision making if we let them. “I spent money on law school so I have to be a lawyer even though it’s making me miserable.” You don’t. You don’t have to be a lawyer.

When we are making decisions, those decisions are about our future. Money, energy, time that we’ve spent in the past may distract us from making the right decision for our future selves. Be mindful of that.