Hi Team,

Expectations are the feeling or belief that something should happen, they are how we envision our future. We all have hopes and dreams for the future, but when our expectations are unreasonably high, we can end up in a world of disappointment.

I have touched on the subject of expectations in a few previous Weekly emails. In # 150, I wrote about how its human nature to have high expectations and to want the best possible outcome from any situation. However, when a building client’s expectations are out of alignment with their budget things become very difficult for the builder and the client. Also in # 141, I used one of my favourite building quotes "building is not an exact science" to explain how difficult it is to meet or exceed a client's ever-changing expectations.

"The first rule of a happy life is low expectations. If you have unrealistic expectations, you're going to be miserable your whole life." Charlie Munger

The world is complicated, ever-changing, fragile, and unpredictable and the "goal posts" for what we are trying to achieve are forever shifting. The only way to have moderate, achievable, and reasonable expectations is to base them on facts and reality, not just hopes or dreams. The average lifestyle in most western countries today was unimaginable 100 years ago. The luxuries of the royal family and the super-rich 100 years ago are considered basic necessities today.

There are difficult parts of humanity that are repeated throughout history, but when they occur, they are always unexpected. Both the Covid pandemic and the war in Ukraine are world changing events that were unimaginable a few years ago, but both these types of events have happened time after time throughout human history. Therefore, it could be said that these tragic events should be both expected and anticipated, but sadly the world has been blindsided by both. Therein lies the dilemma of expectations...

"Imagine the tragedy of unbelievable progress throughout your life and enjoying none of it because you expected all of it." Morgan Housel

If you have low expectations any little progress or improvements that come along feel incredible, and you appreciate them all the more.

PS: I'd like to sign off with some Jim Carrey wisdom, "Everyone should get rich and famous and do everything they ever dreamed of so they can see that it's not the answer."

Thanks for reading,
Stay safe and moderate your expectations.

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