3044: The Delay of Gratification - Reward and Regret by Amberly Grant with Fiology on Financial Independence

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 17 February 2025

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3044: Amberly Grant explores the balance between smart financial choices and living a fulfilling life, emphasizing that financial independence should enable joy, not postpone it indefinitely. She shares her own journey, illustrating how embracing adventure and relationships can coexist with responsible planning for the future. Read along with the original article(s) here: https://www.fiology.com/delay-of-gratification/ Quotes to ponder: "Delayed gratification does not mean delayed joy." "The financial independence journey is about learning how to live the life you want, not about racing to a magic bank account balance." "If I say no to opportunities as rewarding as this, I wouldn’t be supporting my true self." Episode references: I Will Teach You to Be Rich by Ramit Sethi: https://www.amazon.com/I-Will-Teach-You-Rich/dp/1523505745 EconoMe Conference: https://economeconference.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:30.6	It's a minimalist Monday edition of Optimal Finance Daily. The delay of gratification,
0:37.4	reward and regret by Amberly Grant with
0:40.5	Fiology.com. The delay of gratification is essential to success. But what happens if we delay
0:49.0	gratification for too long or too often? You've heard of the Stanford marshmallow experiment.
0:56.3	Put a marshmallow in front of a child and tell them that they will get two if they don't eat
1:00.6	it for 15 minutes.
1:02.5	Some eat it, some don't.
1:04.7	The intent of the test is to identify the ability to resist temptation and delay pleasure.
1:13.2	The results indicate those able to delay gratification have greater success in life. However, metrics of success aren't indicators
1:21.5	for how happy you are, or if you're ultimately fulfilled. What does delay of gratification mean?
1:30.1	Britannica defines the delay of gratification as the act of resisting an impulse to take an
1:36.2	immediately available reward in the hope of obtaining a more valued reward in the future.
1:43.3	The ability to delay gratification is essential to
1:46.8	self-regulation or self-control. It's true that delayed gratification can serve you well throughout
1:53.1	life. Members of the Financial Independence retire early community understand delay of gratification.
2:03.7	Consequently, they invest a dollar rather than spending it in order to take advantage of compound interest and accumulate a net worth they can
2:09.7	live off of for the rest of their lives. If left in the fire too long, marshmallows no longer
	...

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