The Opportunity Cost of Playing it Safe
November 18, 2024
Writer: Jane Hamilton
Editors: Dani Eder & Kate Shapiro
Photo: Pinterest
Opportunity cost— the potential gain we give up when we choose one option over another— is one of the first lessons taught in an introductory economics course. We learn definitions, formulas, graphs, and theoretical intuition underlying this concept. Yet, all of this knowledge holds little value if its value is confined simply to the classroom. Our ability to calculate opportunity cost in an academic setting is futile relative to the value it has when applying it to our own lives. At its core, opportunity cost is a tool for navigating life’s choices with intention rather than avoidance. It helps us to weigh what we’re afraid to lose against what we might miss by refusing to let go.
In reality, when faced with a pivotal life decision, the first question we typically ask ourselves is “What do I have to lose?” This narrow focus on minimizing the potential losses clouds our view of the gains that cease to exist within our comfort zones. This almost invariably leads us to “play it safe” and choose the familiar over the unknown. We fail to see that the biggest loss we could face isn’t what we could lose by stepping outside our comfort zone— it’s what we are missing out on by never daring to venture beyond what is known. Our fear of loss is what feels safe and keeps us grounded, yet what we’re afraid to lose often pales in comparison to what we stand to gain.
If what we stand to gain really is so much greater than what we risk losing, then why do our minds fixate on the loss? The mind is an abundantly powerful tool, capable of both uncovering and shielding us from the truth. As a shield, it offers a comforting sense of safety, sheltering us from having to face what might challenge or change us. Avoiding uncomfortable truths may feel like an act of self-preservation; however, in sidestepping discomfort, we also sidestep the beauty, freedom, and joy that emanate from embracing what is real. But allowing our minds to shield us from discomfort is not an act of self-preservation; it’s an act of self-limitation, trapping us in a detached version of ourselves and preventing us from finding out who we truly are.
So, what’s the real cost of playing it safe? Each time we avoid facing an uncomfortable truth or feeling, we forfeit an opportunity to grow closer to our authentic selves and discover what can truly fulfill us.
Perhaps it feels safer to stay detached, to convince ourselves that our wisest choice is to guard ourselves against disappointment and pain by refusing to invest too deeply. But what a hollow victory that is, to avoid momentary discomfort and embarrassment at the expense of forever missing out on the beauty and depth of the experiences that help to make life meaningful. Vulnerability may leave us susceptible to pain, but it also can be the only path to achieving true connection: connection with oneself, with others, and with the world. It would be silly to go through life without experiencing the intensity of relationships, the moments of beauty and bliss that define the human experience, or the discovery of our truest selves— all because we simply refused to be vulnerable. The real victory, then, is not avoiding what we fear, but daring to embrace what moves us, even if it requires us to risk being naked and exposed.
Choosing growth and connection over comfort and security isn’t an act of recklessness— it is an act of intentionality. It means grasping opportunity costs as more than just a calculation for the economics classroom. It is being able to weigh what we stand to gain by venturing into the unknown against the comfort we might leave behind. When we allow our decisions to be guided by the notion of opportunity costs, we are no longer confined to the intention of minimizing our losses. Instead, our intention shifts to minimizing the gap between all the connections we could have made, the experiences we could have had, the happiness we could have felt, and the life we actually lived. So, next time you are faced with a pivotal decision, rather than asking, “What do I have to lose?” try shifting the question to, “What am I giving up by playing it safe?”
