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Sucker’s Choice in Financial Freedom

I just attended some corporate training on communication skills and learnt about the false dichotomy known as “Sucker’s Choice”.

What is Sucker’s Choice?

The concept of sucker’s choice is straightforward. In times when we are under pressure and stress, we are subject to physiological changes in our body (i.e. the flight or fight reflex) that raises our blood pressure and reduces flow of blood to the brain to our limbs to enable us to react to a perceived threat. This makes us think poorly because our brain is starved of oxygen from the reduced blood flow.

As a result, we tend to only think superficially that there are only one or two choices to solve the threat. The extreme example of sucker’s choice is how flight crew of a aircraft that crashed because the pilot was so distracted by a faulty error light that he didn’t realise the plane was running out of fuel and subsequently crashed. When the surviving crew members were asked why they didn’t tell the pilot about the fuel situation, they said that they didn’t want to disrespect the pilot by questioning his competence and telling him about the fuel situation.

This is the classic sucker’s choice, i.e. the crew member thought he couldn’t tell the pilot as it was a form of disrespect and so chose to endure silence and consequently put at risk the entire plane and its crew and passengers.

We later learnt in the class to take a step back and think of ways to overcome sucker’s choice. In the airplane example, the crew should have thought of a way to highlight the pilot’s attention to the fuel situation diplomatically without embarrassing him.

There are Alternatives in Financial Freedom

I realise in my journey towards financial freedom, I’ve also been lured into the sucker’s choice thinking that life is about achieving financial freedom only if my passive income exceeds my lifestyle expenses.

I’ve learnt to take a broader understanding of financial freedom, in seeing that while achieving a passive income level that is more than my living expenses is the goal, I can continue to be happy and be financially independent even whilst relying on my earned income to get me to my ideal.

In fact, the most valuable lesson I’ve learnt in this journey towards financial freedom is knowing that mentally I have achieved the correct mindset in living my life that is conducive for being financially free. Now is to enjoy the experiences from my profession, family and personal domains to enrich each moment I have here on this world.

Shades of the Financial Freedom Rainbow

Financial freedom is not a dichotomy as I discussed in my previous post. It is a continuum, a rainbow of colours that comes in different shades and hues. We go through life exploring the various ways and means how we bring ourselves closer to the goal.

In the process, we learn more about ourselves.

Do you think you are faced with possible sucker’s choices in your own quest towards financial freedom?

Be well and prosper.