Break free of The Sunk Cost Lie!

Joe Carraway
Apr 19
3 min read

Have you ever stayed in a job you hated because you already gave it “so many years,” or you have already endured “so many changes,” or because you “should be” up for that promotion that you should have had 2 years ago? Or remained in a relationship long after it stopped feeling right—just because of how much you’ve invested?

If so, you’ve felt the heavy weight of the sunk cost fallacy.

What Is the Sunk Cost Fallacy?

The sunk cost fallacy is a psychological trap. It’s when we continue investing time, energy, money, or emotions into something not because it’s still working, but because we’ve already invested so much.

We tell ourselves:

“I’ve been here too long to leave now.”
“I already put so much effort into this, I can’t quit.”
“If I just keep pushing, maybe it will pay off.”
“I don’t want to quit after all I’ve done”

But here’s the truth: past investment does not equal present value. The only thing you guarantee by staying stuck is more time lost.

And remember, once time is gone…its GONE FOR GOOD!

How It Holds Us Back

The sunk cost fallacy convinces us that walking away means failure. That quitting is giving up. But in reality, staying in something that no longer serves your purpose is the true failure of self-alignment.

It holds us back by:

Clouding our judgment with guilt, comparisons, and/or pride.
Making us avoid hard decisions in favor of comfort.
Keeping us in loops of burnout, frustration, and “almosts.”

We end up clinging to careers, businesses, degrees, and relationships that our future selves would never choose again—just because our past self said yes.

The Devil You Know…

I have a good friend who used to say, “The devil you know is better than the devil you don’t." That was his personal mantra for staying at a job that made him miserable—because the alternative was unknown. He knew the dysfunction, the ceiling, the stress. But instead of choosing better, he chose familiar.

It became a shield against growth. A false sense of security. And it kept him stuck in a cycle of under-earning and over-functioning.

That phrase might feel practical—but it’s actually fear in disguise. Fear that tells you it's safer to stay with what you tolerate rather than risk finding what you truly deserve.

Familiar ≠ Fulfilling

It’s easy to confuse the familiar with the right thing. We associate comfort with safety, even when that comfort is draining us. That’s just how our brains are wired. But growth requires disruption.

That old saying, “No Pain, No Gain,” is real! Freedom requires release.

The job that once felt like a dream might now feel like a cage. The business you started might not be the one you’re meant to finish. And the life you built may no longer reflect the person you’ve become.

So, what do you do?

6 Powerful Actions to Break Free from the Sunk Cost Trap

Name the truth.
Ask yourself: If I hadn’t already invested in this, would I still choose it today?
If the answer is no, it’s time to reevaluate.
Separate emotion from evaluation.
Write down the facts of your current situation without judgment.
What’s really working? What’s really not?
Stop glorifying struggle.
Just because something is hard doesn’t make it worthwhile. Life doesn’t always have to be hard. I often tell the leaders I lead, “expect the foolishness, but don’t create it!”
Progress and alignment are better measures than endurance.
Visualize your future self.
What does the version of you 3 years from now need you to walk away from today?
What would they thank you for releasing?
Reclaim your power to choose.
You’re not trapped—you’re deciding.
Choosing a different path is not quitting, it’s leading your life with intention.
Get support to shift.
Whether through coaching, therapy, or a trusted advisor—don’t do this work alone.
Having perspective is a powerful tool when detangling from old commitments.