Sure, resource potential is important. But putting all of your eggs in one basket can push you into a corner, especially in the sense of -feeling- cornered. Options, even if they exist primarily in theory, are a force multiplier.
For example;
If you have a “good” job, but it is trending toward a flat trajectory, and you have a set of skills that requires a complex set of circumstances to be employed, it may be too risky to move to a new location simply because the downside is so severe. It can be a 1:4 bet paying 10:1 odds, a bet you definitely should take, but if losing means your family doesn’t eat, you can’t take the risk.
If you know you can find a way to get by even with day labor if things go badly until you can stabilize your situation, you can take those beneficial risks.
It’s a matter of being prepared to roll with the inevitable punches, and being able to make decisions based on the knowledge of that readiness. Being less fragile, even antifragile.
For example;
If you have a “good” job, but it is trending toward a flat trajectory, and you have a set of skills that requires a complex set of circumstances to be employed, it may be too risky to move to a new location simply because the downside is so severe. It can be a 1:4 bet paying 10:1 odds, a bet you definitely should take, but if losing means your family doesn’t eat, you can’t take the risk.
If you know you can find a way to get by even with day labor if things go badly until you can stabilize your situation, you can take those beneficial risks.
It’s a matter of being prepared to roll with the inevitable punches, and being able to make decisions based on the knowledge of that readiness. Being less fragile, even antifragile.