The hedonic treadmill, also known as hedonic adaptation, is the observed tendency of humans to quickly return to a relatively stable level of happiness despite major positive or negative events or life changes. This concept was recently introduced in the latest BiggerPockets Podcast when discussing the strategy of house-hacking; hedonic adaptation can have a major impact, positively or negatively, on your comfortability AND profitability.
Let’s use the example of house-hacking, as discussed in the BP Podcast episode – many are unwilling to become uncomfortable by sharing walls with a stranger, or even worse sharing living space with a stranger. But, if you can get over this initial level of awkwardness, house-hacking can be very profitable and could very well boost you into financial independence incredibly fast. Craig Curlop, author of the new book The House Hacking Strategy, says that hedonic adaption eventually takes over and that discomfort goes away; it just becomes the norm.
You could apply this psychology to so many different facets within your life. Think about how you grow – put yourself into uncomfortable situations and push yourself to adapt to the environment (i.e. hedonic adaptation). No pain, no gain!
How do you physically become stronger, or in better shape?
You become uncomfortable by working out and pushing your body to a painful state. Eventually that painful state becomes the norm, your body adapts, and is stronger for it.
How do you become a better parent?
You become uncomfortable and do things for your children that you may not normally do because it is outside of your comfort zone. Eventually that becomes the norm and you are better for it, and so is your family.
How do you become a better public speaker?
You become uncomfortable and choose to face your fear and start speaking in public more often. Maybe you join a Toastmasters club, or start your own meetup group where you are the guest speaker. It isn’t a whole lot of fun at first, but eventually you adapt to it and that fear goes away.
How do you become a better investor?
You become uncomfortable and you push yourself to go outside of your comfort zone. You buy that first rental property. You use the hard-money loan that feels so scary. You make an offer on an apartment complex and hope you can raise the money.
You probably get the point by now.
But here’s the caveat, you may fail when you push yourself outside the comfort zone. And that’s ok. If you learn from it, you will still grow. You will still make out better than you were before. And I bet you won’t make the same mistakes next time you push yourself past that comfort zone.
So here’s my challenge to you:
Start putting yourself in uncomfortable situations and realize that comfortability has an indirect relationship to profitability – less comfort equals high profit.
Go do something that is scary. Go do something that is going to push the envelope. Go do something that your future self will thank you for.
Go climb a mountain. Go be silly with your kids. Go start that meetup group and speak in front of a large crowd. Go buy that first rental property.
Yes, it’ll be scary, and it may suck the first time you do it…but you’ll get over it.
Written by Stuart Grazier