Qiuyan and I talked about instant versus delayed gratification…in life and in investing. How does one’s personality impact the way you live and invest?
Quoting from a recent article on Privé Technologies Insights…
“Does your personality affect the way you make decisions? Join us in this mini series as we explore what instant and delayed gratification are, and their implications on your finances.
Instant gratification generally refers to the impulsive decisions we make for the sake of immediate pleasure. It’s about getting exactly what we want, right when we want it. In contrast, delayed gratification is the ability to resist those impulses for immediate pleasure, in order to receive something better in the future.
Do we choose to satisfy our sweet tooth, or reap the benefits of a healthy eating plan? Do we hit the snooze button to enjoy an extra hour of blissful sleep, or wake up and commit to our fitness regime? Is the fancy pair of shoes necessary right this second, or is the money better suited for a more worthwhile investment?
We often battle with similar choices everyday, and these decisions often boil down to choosing between short-term satisfaction or being able to wait for long-term benefits."
We also share some personal stories of our own experiences with delayed versus instant gratification.