Tom Watson came within one stroke last Sunday of being the oldest player ever to win a major golf tournament. As Watson missed a 10-foot putt on the 18th hole of the final round in the British Open, his chances of winning evaporated with the sighs of disappointment from the gallery. Watson lost in a four-hole playoff to another golfer, finishing second.

I was pulling for him to win since his 59 years of age is only a couple more than mine. It would have made a great story for this summer. But perhaps the bigger story is Watson's comment upon falling into second place.

When asked how he felt after missing his chance at golf immortality, Watson replied, "There is still a vacuum in the stomach, but this too shall pass. Honestly, it's not the most important thing in life." What great advice for making our lives work at the highest level. I don't know if he would have felt this way 20 years ago, but years of experience bring the maturity of perspective to setbacks dealt by life.

How about you? What are you facing right now that seems like a crushing defeat from which there is no deliverance? Is it financial setback resulting from the global economic downturn? Is it the loss of a job? Has a personal relationship gone south, bringing despair to the dark and silent hours of the night?

Whether you are a teen dealing with despair, a middle-aged worker facing job retraining or a near retiree whose nest egg has been ravaged by stock market losses, you can learn a lesson from the words, "this too shall pass." Every phase of life will throw us curve balls, the unexpected events that set us back. These require a strong determination to meet and overcome them. That is what life is about. Learning to master the rapids becomes a spiritual art form.

The key to facing adversity is to first accept the reality of the loss. Think it through for a short period—perhaps a day or two. Then reenter your life—get on with things. Get out and be with people. Eventually you will move through and beyond your trial. There can be a life beyond!

But if you get into a self-pitying frame of mind, you are doomed to remain mired in loss and the chances of repeat trials increase. Get up, get out and move on.

King Solomon said, "For though a righteous man falls seven times, he rises again" (Proverbs 24:16, New International Version). Whatever you are facing, don't give up. Be resourceful in facing your trial.

Tom Watson may have missed a record-making achievement. But his grace in accepting defeat is a life lesson in winning the real race before us.