MAP Strategic Wealth Advisors

The Triumph of Coming in Third

Six takeaways:

1. The competitive spirit occurs naturally in human beings, but if it goes unmanaged it can have horrible effects on one’s life, This article provides a formula to overcome this: instead of always going for gold, shoot for the bronze.
2. A 1995 study published in the Journal of Personality and Social Psychology studied the emotional reactions of silver and bronze medalists in the 1992 Summer Olympic Games both immediately after their events and later on. For both groups, bronze medalists were the happiest in both the short and long term.
3. Silver medalists see themselves as “first loser” whereas bronze medalists compare themselves favorably with those who didn’t make it onto the podium.
4. This brings forth the distinction between upward comparison and downward comparison. If we compare cars, clothes, bank accounts with those wealthier than us, we’ll feel lesser. Downward comparison makes people feel better about themselves and, thus, happier.
5. Self-comparison is unavoidable, but you can take steps to fortify yourself against it. This includes avoiding or regulating social media use, looking at life as a series of long-term goals rather than benchmarks, and to view your main competition as being with yourself rather than with others.
6. Lastly, use mindfulness tactics/practices to remind yourself that you can only control your own path, and that validation should only come from within.

From Arthur C. Brooks at The Atlantic:
Read the whole story.

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