Do You Have Transition Fatigue?
Financial transitions come in many forms: selling a business, death or divorce, inheritance or a windfall. Regardless of the reason, managing a financial transition can be overwhelming, difficult and exciting – all at the same time.
We refer to ‘transitions’ as that period of change in which “what was” no longer exists and “what will be” has not yet taken shape. Transitions are temporary states, but that does not mean they are short-lived. By their very nature, transitions have broad-reaching implications for people’s lives – their finances, important relationships, where to live and how to live.
Occasionally, each of us has a day when we feel "off," when our capable, confident, focused and decisive selves seem to go AWOL. Given the circumstances, sometimes people make decisions they wouldn’t otherwise make.
Usually we can chalk these episodes up to something specific—a cold, a bad night of sleep or some other temporary issue. But what about when that off day turns into an off week? Or an off month? Or even an off year? We may start to wonder—with understandable anxiety—what ever happened to the person we used to be.
As an advisor, I've seen this phenomenon often with clients who are in the midst of major life transitions. And very often, the explanation for their malaise is very clear: They're experiencing a very natural phenomenon known as transition fatigue.
Transition fatigue may cause you to experience changes in several important aspects of your personal functioning, such as sleep, decision making, focus, energy, stress etc. It’s important to recognize and manage transition fatigue—especially because if you ignore it, the likelihood of making poor decisions increases.
The following brief self-assessment was designed to provide you with a quick survey of how you are doing mentally and physically:
Please note that the Self-Assessment is not intended to be a diagnostic tool, nor a substitute for professional advice. Use your results to help you reflect on how you’re faring, and to give you some ideas about how to move through your transition with greater ease.
If you're experiencing transition fatigue, it's important to be patient and compassionate with yourself. You're in the midst of a life transformation, after all. It's big, but it's temporary.
If you need assistance in managing your financial transition, let’s chat further about how we can help you improve your wealth and well-being as you navigate this major life change.
