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Ray Williams
Ray Williams
Author / Retired Executive Coach / Helping Others Live Better Lives
Published Oct 21, 2023
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Do you always look at the glass as half-full? Or do you prepare for the worst, just in case? Optimists glow with positivity, while pessimists swear by the safety of their low expectations. Yet, a recent study reveals that the realists might have the last laugh.
“Being realistic about your life outcomes is likely to make you happier than overestimating them," explains a Personality and Social Psychology Bulletin study. Researchers David de Meza from the London School of Economics and Chris Dawson from the University of Bath dove deep into a survey of 1,601 individuals spanning 18 years. They unearthed insights on health, finances, lifestyle, and more.
Now, you might ask, what exactly is “unrealistic optimism?” It's not just hoping for the best. It’s a belief so firm in good outcomes that it can skew your judgment. To gauge this, participants were asked about their financial predictions for the year ahead and how they compared to the past year. The results? Expectations often clash with reality.
Linking this optimism to well-being, the researchers found a curious pattern. Realists with grounded expectations reported better psychological health than extreme optimists or pessimists. Pessimists showed 37.2% more psychological distress compared to realists, and even optimists weren't spared, showing an 11.8% increase.
And there's more - life satisfaction took a hit for both overly positive and negative thinkers. While pessimists experienced a 21.8% drop in well-being, the ever-hopeful optimists saw a 13.5% dip compared to their realistic counterparts.
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But why is this so? Perhaps the eternal optimists face recurring disappointment when dreams don't match reality. Although shielded from such letdowns, pessimists might live in constant worry. Moreover, plans grounded in misjudged beliefs might backfire. For instance, an overconfident investor might not save enough, while a negative one could miss out on golden opportunities.
But does this hold true beyond finances? That's still up for debate. Financial outcomes often feel controllable and can lure us into false optimism. Would we feel the same about uncontrollable factors like genetic health risks? Time will tell.
Yet, it's essential to clarify that optimism isn’t inherently harmful. In fact, many studies champion its benefits. But there's a line between healthy hopefulness and blinding overconfidence.
This study is refreshing for those who've always preferred a realistic outlook. While society often heralds positive thinking, championed by self-help maestros and viral books, it's reassuring to know that realism has its own brand of joy. So, the next time someone tells you to always expect the best, remember: a touch of reality might be your ticket to well-being.
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Bill Charlton
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The GREEN Philippines.Strategy is simple.Implement Pilot Project then repeat at 500 other locations and create 250k jobs for unskilled or unemployed workers.Hopefully most will find this interesting.Initially the Philippines renewable biomass energy project was to invite the major corporations, San Miguel and Coca-cola to participate but soon realized that in it's then format, was much to big financially and logistically for these 2 majors to participate.It was at this point when the Pilot Project was devised.This was not simply a physical reduction is size but also to include certain aspects which when implemented would ensure a massive increase in job creation in depressed regions.Meeting the UN climate expectations well within the required time frame was obviously a plus, as was, when perfected and established in a number of other locations, greatly reduce the demand on the Water Table.For the Clever people who can use a calculator.340million dividend by 10 equals 34 million.That's 34 million tons per annum, just one of the many elements the Philippines biomass project is capable of producing.All without cutting down a single tree.Vast amount of Fertilizer, a residue produced during process.[email protected]
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Ray Williams
Author / Retired Executive Coach / Helping Others Live Better Lives
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Thanks for your comment Otto. Good alternative image
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Otto Gretzinger CPA, CGMA
Chief Financial Officer | CFO | Global Finance | Qualified Financial Expert | Public | Private Equity | Manufacturing | Automotive | Transportation | Business Transformation | M&A | Acquisition Integrations | Big 4 | CPA
11mo
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Great thoughts, Ray. The Stockdale Paradox. right? How about this perspective in the picture as another alternative?
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