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Tag: fomo

  • When markets soar, don’t let FOMO take over – MoneySense

    With Bay and Wall Streets trading in record territory, and certain high-flying stocks like Nvidia making headlines for their share price rallies, it’s tempting for investors—especially those who are just starting their investment journey and who might not have a lot of money to invest right off the bat—to want to jump in on the action.

    But before the fear of missing out gets the best of you, experts advise taking a moment to ask why you want to invest in that company. “Many investors get caught in the hype,” said Ryan Gubic, certified financial planner and founder of MRG Wealth Management. “When you have high-performing or winning investments, they’ve already gone from potentially a low period to a high period,” he said, which means there could be a chance that the stock might plateau or trade lower going forward.

    Investing with intention, not impulse

    But investing goes beyond the fear of missing out on gains. It’s more about where an individual is in their financial journey, including their goals and time horizon, and tying that to their investment decisions, experts say.

    Gubic said young investors need to consider their experience in investing and the amount of time they’re dedicating to market and economic analysis. He suggests they speak with a financial adviser to get more clarity on their goals, risk tolerance and needs that can be mapped out in a holistic financial plan.

    If an investor isn’t doing their homework on what they’re actually investing in, Gubic said, stock picking can quickly turn into speculative betting. “Are you just chasing returns, or do you actually have a strategy and a process that you’re following?” he asked.

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    Record highs come with real risks

    There are also risks to buying individual stocks when they’re trading in record territory. “What are you willing to lose, and how will that impact you over the next one, five, 10, and 30 years?” Gubic said. “Be really truthful with yourself: Are you doing speculative gambling or are you doing systematic investing?”

    While friends may often talk about their investing wins, few openly discuss their losses, said Mia Karmelic, executive financial consultant at IG Wealth Management. “They don’t always talk about it when they’ve lost money,” she said. “I think it’s important to bring that perspective in too.”

    While markets emerged from trade-related volatility earlier this year, the significant drops put many investors on edge. But the markets pulled through and have since delivered several new highs in the months that followed.

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    “Pullbacks are normal and they happen each year,” Karmelic said. “Markets recover and go on to hit new highs.”

    She said investors shouldn’t be hyper-fixated on where markets or individual stocks are at, but focus on growing money in the long run. “I suggest investing in a diversified portfolio—ETFs, mutual funds—rather than individual stocks when there isn’t a large amount of savings to be invested,” she said.

    Diversification is your best defense

    Young investors typically start off with a smaller amount of money and sometimes, they might take on more risk in search of returns.

    “It’s really hard to diversify into an individual stock portfolio when there isn’t a substantial amount of money being invested,” Karmelic said. Instead, she recommends investing on a regular basis. “Average yourself into the markets, capture those different prices, and over the long term, you will do very well,” she said.

    But that doesn’t mean putting your money to work in a stock that’s trading at an all-time high is out of the question. “There’s certainly space for some of those stocks that are at all-time highs because chances are they can continue to hit new highs,” said Karmelic.

    But it’s important to protect your portfolio from significant volatility, she said.

    “It’s important to invest in a portfolio of stocks that are diversified, that are not just in a specific industry, in a specific country,” Karmelic said. “I think investors will definitely feel the volatility more if they’re only exposed to three or four individual companies,” Karmelic said.

    Even then, if an investor has their heart set on a high-flying stock, it should only make up a small percentage of their portfolio. “When I look at a lot of my clients, an individual public equity holding might be around a one to 2% weight, sometimes a little less,” Gubic said.

    The Canadian Press

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  • From FOMO (Fear Of Missing Out) to JOMO (Joy Of Missing Out)

    From FOMO (Fear Of Missing Out) to JOMO (Joy Of Missing Out)

    We’ve all done this at one point: we’re out for dinner and constantly check our phones, we double-, triple- or quadruple-book our schedules to have social plans, or we stalk other people’s photos and posts on social media. This is the condition of FOMO, or “Fear Of Missing Out”.

    What does FOMO look like?

    Researchers describe FOMO as a “pervasive apprehension that others might be having rewarding experiences from which one is absent,” meaning we’re worried that we’re being left out of the fun. While feelings of exclusion aren’t new, what makes FOMO such a modern phenomenon is social media and our obsessive desire to stay connected through our devices. This is what makes FOMO so prevalent. In the past, we may not have known we missed out on a fantastic party until days or even weeks later, whereas now we know we weren’t invited instantly because we see posts from the party in real-time.

    FOMO has become an epidemic, and perhaps it’s why we have constructed our lives in such a way that we are perpetually busy. If we keep busy then we feel justified in our own sense of place; we are doing something and therefore, the feeling of missing out is lessened. But busyness is not a badge of honour, nor is it the solution to make us feel more included, welcomed, or loved.

    I am guilty of it too. I scroll through Instagram and I wonder why I hadn’t heard of that conference that everyone seemed to be at, or how I missed that awesome yoga class in the park.

    can fomo be harmful to our health?

    Research emerging in the last half-decade about the fear of missing out shows that this phenomenon can lead to:

    Much of this research is performed on teenagers and young adults, but I don’t know if the results would be all that different if people my age were the subjects. We all struggle with FOMO. What is more concerning about this prevalence in the younger generation is they often don’t know what it’s like to live without smartphones, the internet, or other technologies, and these consequences of FOMO are more likely to continue into adulthood without a course correction.

    FOMO takes Us Away From Being in the Moment

    The downside of FOMO for all of us is we become so chronically – or seemingly – busy, that we don’t ever get to be in the moment, here and now. We’re worried about where we need to be next and what everyone else is doing.

    What most of us fail to notice, in those moments, is that where we are is exactly where we’re supposed to be. What we’re doing is just what we’re supposed to be doing. And how we’re feeling in that here-and-now moment is of our own choosing. We can fear that we are missing out, or we can take the time to find the grace, gratitude, and small bits of awesomeness that surely surround us right now.

    Fortunately, the emergence of FOMO has led to another phenomenon: the joy of missing out, or JOMO. This concept invites us to enjoy and celebrate our disconnection from technology and social media and experience a healthier, happier life.

    The trick and the challenge is learning how to pursue JOMO. That is our own work, something only we can do.

    How to Overcome FOMO and Experience JOMO

    1. Focus on the Exhale

    It is in our breath, in the exhale, that we can release into the present. Too often, we get caught up in the stress of ‘busy,’ breathe shallowly, and then find ourselves holding that breath with slumped shoulders and contracted lungs, surging us straight into the body’s stress response. The simplest strategy to switch into the grace of here and now, rather than worrying about what everyone else is doing, is to focus on the exhale.

    How To Do It

    Take the deepest inhale you can, counting to five, and then exhale out counting to 10. Extend the exhale longer than the inhale and then carry on. You will feel differently, and if you don’t yet, do it again. And again. As one of my favourite yoga teachers, Sean Corne says, “Breathe, and this too will change.”

    You can also check out my complementary class on coherence, a quick breathing technique that has been life-changing for me.

    2. Change Your Relationship with Technology

    Technology, and particularly social media, are the strongest influences that lead to FOMO. I own an online business so this is challenging, but it’s really challenging for all of us because many jobs require us to use devices and be available at the touch of a button. You don’t need to ditch technology or social media entirely, but it’s important to manage your consumption – not just to avoid FOMO, but to have more time to spend with the people who matter to you.

    How To Do It

    Practice healthier cell phone use, turn off all notifications on your phone, turn your phone off at night or leave it outside at night, and shut down all devices an hour before bed.

    3. Practice Gratitude

    We will always feel like we are missing out if we can’t appreciate what we have. Our experience of life can be as awesome as we want it to be. Sure, there will always be challenges, but maybe that’s the opportunity to learn an awesome lesson. We can find joy, fun, laughter, and beauty in just about anything. This is the practice of gratitude, using the moments that challenge us as the moments to look for the goodness.

    How To Do It

    It doesn’t need to be as formal as journaling but go for it if you like. Before bed, try recounting five amazing things that happened to you that day and then marinate in that goodness all night. Try it for a week and you’ll be delighted by the in-flow of even more awesomeness.

    4. Spend Time in Nature

    Being outside has an incredible ability to ground us and improve our health. Disconnect – even for a short time – from technology and reap the health benefits of ‘forest bathing’, which include a boost to the immune system, a reduction in stress and pain, improved mood, and better respiratory and cardiovascular health.

    How To Do It

    Go for a walk in a forest. It’s really that simple. Even if you live in a city, you can benefit from visiting an urban park or garden – learn more about that here.

    5. Choose Happiness as Much as You Can

    Every choice counts. Some of the sufferings we experience day-to-day are the result of questioning the choices we make or the result of giving that power of choice to someone else. What obligations or doubts can you release, knowing that every choice we make will build our emotional and physical health or work against it? Knowing that every choice counts, from diet to sleep to socializing to pooping, can you choose your own prescription for health and happiness? What choices would you make?

    How To Do It

    Choose your prescription for feeling great. What do you need to do, who do you want to see, where do you want or need to be to feel your absolute twinkling, sparkling, and shining best? Though we can’t always choose everything we wish we could, we do have the option of choosing how to respond and react in any given situation. That’s where exhaling and gratitude can help, too.

    fear of missing out to joy of missing out

    What are your best strategies for keeping yourself in the Here and Now, and warding off the evils of FOMO?

    On My Mind Episode 26: From FOMO (Fear Of Missing Out) to JOMO (Joy Of Missing Out)

    Subscribe today on your favourite podcast app and never miss an episode.

    fomo quotefomo quote

    Meghan Telpner

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  • 5 Simple Ways to Overcome the Fear of Missing Out

    5 Simple Ways to Overcome the Fear of Missing Out

    Opinions expressed by Entrepreneur contributors are their own.

    If you’re digital-savvy, you’ve probably experienced FOMO (fear of missing out) every once in a while — from feeling inadequate to comparing yourself to others. Social media is a FOMO enabler. In fact, a study shows that the dual nature of online personas is one of its drivers. Let’s face it: We live in a day and age where it’s all about comparisons, competition and stepping your best foot forward in projecting an image. While what others post online is a mere illusion, it still plays a tricky game in our heads.

    From episodes of anxiety to damaged self-esteem, the negative effects of FOMO on a person are insurmountable and could lead to long-term problems. But just like any other challenge, there are ways to navigate and manage this sinking feeling of inadequacy. Here are five ways to let go of FOMO:

    Related: 5 Smartphone Tips to Overcome FOMO

    1. Focus on yourself and your own activities

    When we were kids, our teachers used to say “eyes on your own paper.” Back then, the context felt strictly pointing to our own homework and exams. But in retrospect, it resonates as focusing on your own journey and building tunnel vision. This line is still as universal as it used to be — only now, as adults, we’re constantly reminded to put ourselves above everything else — from our strengths, weaknesses and challenges to our unique opportunities.

    Occasionally checking out what and how other people are doing for personal inspiration is healthy. After all, we need our heroes to drive us to get where we want. But the relentless comparisons offer nothing but toxicity. Keep in mind that comparisons yield nothing but empty outputs — it gives you no real value.

    It’s wise to constantly remind yourself that every person has a different path, pacing and set of circumstances. You will get there eventually on your own terms and in your own ways.

    2. Be present in each moment

    Sometimes we get too caught up in reaching a certain goal that we forget to relish our own efforts in getting there. You know what they say: The real prize is the rainbow, as well as the pot of gold at the end of it. Stay present in each moment, focus on your process, think of ways to improve in each step, and let tomorrow be an opportunity to take valuable action.

    Related: How to Beat FOMO and Live a Healthier Life

    3. Take a social media break

    One of the most effective hacks for letting go of FOMO is taking a social media break. Whether it’s muting your apps altogether or simply turning your phone off for a day, the wonders of social media detox are unparalleled for a mental and emotional reset.

    Technically, the online world doesn’t exist, yet people spend too much time, energy, effort and emotions on something as abstract as social media. Take a day off to spend time with your friends, walk in the park, eat at your favorite restaurant or check up on your loved ones. The best way to declutter your mind from the pressures of the digital community is to exist in the real world.

    5. Keep calm and carry on

    Give yourself a break. Keep in mind that you’re human, not AI. Don’t beat yourself up if you feel burned out. Taking breaks to unwind is just as important as grinding hard at work. And in an era where mental health awareness is paramount, the most crucial key to self-fulfillment is self-care.

    Related: You Can’t Do Everything, and If You Try to You’ll Do Even Less

    FOMO wasn’t a thing until 2004 and was extensively used throughout the last two decades in the heyday of social media. Arguably, it’s a self-inflicted phenomenon that was manufactured by the media until everyone bought it. Is FOMO real? It sure is. But is it innate to humans? No, so take it with caution. The trick here is to filter noise — not everything you see in the media is relevant to you, no matter how tempting it is to think that everything matters. At the end of the day, rely on your willpower to brush things off that bear no importance.

    The takeaway here is that FOMO is inevitable in today’s modern age. However, remind yourself that you have the upper hand in controlling it. Maneuver your path; don’t let it take over you. Be the driver of your vehicle, put in the hard work, and focus on the road you’re on.

    Omri Hurwitz

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  • Can FOMO Drive You to Drink?

    Can FOMO Drive You to Drink?

    Oct. 18, 2022 – This just in: College students drink, use drugs, and break the law. 

    OK, so that’s not exactly news. But this is: A “fear of missing out” – playfully termed FOMO in the social media era – can predict these bad behaviors with surprising accuracy. That’s what researchers from Southern Connecticut State University found in a new study published in PLOS One. 

    After surveying 472 undergrads (ages 18 to 24), researchers found that students with higher levels of FOMO were more likely to engage in academic misconduct, drug and alcohol use, and breaking the law. 

    FOMO is the “chronic apprehension that one is missing rewarding/fun experiences peers are experiencing,” the paper says. It’s most common between ages 18 and 34, but anyone can feel it – and most people (nearly 90%) have. 

    “Almost all of us experience FOMO with most hopefully not engaging in any serious maladaptive, dangerous, or illegal behavior,” says Paul McKee, a PhD student in the Cognitive Neuroscience Admitting Program at Duke University and the study’s lead author. “That being said, there is evidence, in this study and others, that those with higher levels of FOMO may be more likely to experience negative mental health consequences like increased anxiety or depression, or engage in less-than-desired behaviors.” 

    Students in the study completed a 10-question quiz designed to assess FOMO levels. They were asked to rate on a 1-to-5 scale how true each of the following statements were: 

    1. I fear others have more rewarding experiences than me.

    2. I fear my friends have more rewarding experiences than me.

    3. I get worried when I find out my friends are having fun without me.

    4. I get anxious when I don’t know what my friends are up to.

    5. It is important that I understand my friends’ “in jokes.”

    6. Sometimes, I wonder if I spend too much time keeping up with what is going on.

    7. It bothers me when I miss an opportunity to meet up with friends.

    8. When I have a good time, it is important for me to share the details online (e.g. updating status).

    9. When I miss out on a planned get-together, it bothers me.

    10. When I go on vacation, I continue to keep tabs on what my friends are doing.

    The higher a student’s average FOMO score, the more likely they were to have engaged in bad behaviors. 

    “Maladaptive behaviors were more likely for someone with a 3 than a 2, but even more so likely for a 4 compared to the 3,” says McKee. 

    Those behaviors included classroom incivility (like using your cellphone during class), plagiarism, alcohol and drug use, stealing, and giving out illegal and prescription drugs. And the associations remained even after controlling for gender, living situation, and social and economic status. 

    In the end, the researchers were able to use FOMO to predict whether a student would engage in academic misconduct with up to 87% accuracy, drug use with up to 78% accuracy, illegal behavior with up to 75% accuracy, and alcohol use with up to 73% accuracy. 

    That’s impressive, especially when you consider that a short, simple screening – including the 10 questions above — could be all it takes to predict these behaviors, McKee notes. 

    The new study fits with previous research that has linked FOMO with negative outcomes like anxiety disorders, sleep problems, and higher alcohol use. 

    Research also links FOMO with social media use. 

    “There is enough literature out there today that shows strong evidence of a bi-directional relationship between FOMO and social media use,” McKee says. In other words, “FOMO may lead to more social media use, but more social media use may also lead to FOMO.”

    More research is needed to better understand the link between FOMO and behavior, the researchers say. That could help us reduce its potential harms. 

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