11 Steps to Risk Managing Your Life and Loves

Posted: Tue Sep 18 13:30

Please consider your life risk and your love risk, as well as your business risk.

1.    Identify the most important things in your life. A good way of doing this is writing all the most important things in big letters on quarter A4-sized (A6) pieces of paper. You might consider 100’s of things, or just a couple – ranging from honesty, integrity, loyalty, children, money, fidelity, humour, health, sex, your home and so on. They might also be goals – such as become a millionaire (or Become A Millionaire).

2.    Spread them out on a table (or all over the lounge room floor) and attempt to put them in order, from the Most Important to the Least Important things in your life. Stand over them and study them. (Take days, if you need to, there's no time limit on this)

3.    If things are an identical weight of Importance, lay them side by side. Continue until you have a long line of importances, snaking across the table (or floor).

4.    Let’s refer to each of those things you’ve written as, “Importances”.

5.    Now look at the top five (or 10 if you’re really keen!) Importances in the list (or row) you have created. Study each of them in turn, and consider things that could hurt the Importance, such as bankruptcy, loss of respect, unemployment, contagious disease, injury, young sexy blonde, etc.

6.    Make sure you catastrophise the Importance, too – that is, think of the absolute worst thing that could possibly happen to that Importance and how that would affect you.

7.    Next consider ways to prevent those absolute worst possible things that you have identified and catastophised. Your strategies might include, for example: remaining loyal, staying healthy, working smarter, always playing safe, taking out insurance and so on.

8.    Write down the strategies you devise on the backs of the relevant pieces of paper. (Print small, because you might think of more things, later on.)

9.    Shuffle through these 5 Top Importances (or 10) when you’re finished. You have now created a mini contingency plan, and it is something you thought of during (hopefully) still-logical times. (Just like the dementia sufferer does <or should>).

10.    Bundle up the Top 5 Importances (or 10 or 20 or 30) in a rubber band and stash them in a drawer within easy reach. Make sure you keep them with the other minor Importances. If you start to feel stressed again, reshuffle the cards and lay them out again, and make sure the order of your Importances hasn’t changed.

11. As time goes on, add to your cache - write down any changed or recent Importances and repeat steps 4,5 & 6 for additional Importances. Mentally congratulate yourself for any deleted Importances. (You’ve earned it.)

The risk assessment is complete. Mentally (or physically) schedule another laying out of the Importances in a couple of years or if life events start drastically changing.  Ask the opinions of loved ones or peers if you want to collaborate. (It will make the execution of any plans easier if everyone is forewarned.) You will (all) have immediate feelings of relief and your mind chatter almost ceases overnight.

Reduce stress by loving the life, managing the risks and cease feeling out of control.

Feedback gratefully accepted. #NegotiatedFidelity RSS feed at http://www.hollyhill.net.au/rss.xml


Comments

Posted by: DJ

Nothing comes easy and everyone at least undergoes a cost-benefit analysis. What are you prepared to pay to get what you want? Alternatively what is the price you can afford to pay?

The idea of lists are very helpful for some people yet others prefer their flow charts, budgets or just jumbled thoughts in their head.

Also you can never really avoid risk or bad things happening. Having the mental, physical and emotional resources to cope is what is important and personally how i look at things. Similar to the list theory what can I afford to lose given the resources at my disposal - i.e. How much do I pay?

Brilliant article. It really got me thinking about how I assess risk in my life.

From a personal POV money is important at this stage of my life. I am unemployable in the traditional sense (not everyone has skills to make it in the 9-5 world or adds value)so I am prepared to put all my savings into my business and grow it whatever it takes. It fails I end up bankrupt starting over and probably driving cabs or some other low skill job I can handle. The reward is I make a shit load of money and run my own show on my terms.

The relationship is interesting in that for my personal opinion a traditional marriage is my idea of hell. If I have to put up with nagging, interfering in-laws (on both sides) possessiveness, restriction and control I would be suicidal. No way am I prepared to put my life in jeopardy in that way ever again.

Alternately risking bankruptcy and failure also puts your life on the line so go figure. Life is a massive gamble with your decisions. No avoiding it. What's your best game is what you need to figure out.

Holly - Fine praise, indeed! You are so right about life being such a gamble - in many ways, its the biggest gamble of all, yet the least managed. Crazy, eh?

Posted by: retro jordans neakers

Thank you ever so for you article.Really looking forward to read more. Cool.

Holly - thanks!

Posted by: Wiseman

Gee whiz, and I thought this would be hard to find out.

Holly - not anymore! Many thanks. xxx

Posted by: Belle

It's a joy to find soemnoe who can think like that

Holly - wow! Thanks Belle!

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