Delayed Gratification is a trait that helps you postpone your needs and wants in current times for greater rewards and benefits in the future. This is a critical skill in order to build wealth and succeed in life as a whole. It doesn’t matter if you are in a financial bind right now, if you can delay your gratification, you will more than likely be better off in the long run.
Watch the full episode of The role of Delayed Gratification to achieving Financial Freedom according to Robert Kiyosaki!
The Role of Delayed Gratification to achieving Financial Freedom according to Robert Kiyosaki!
What is Delayed Gratification?
The power of delayed gratification can be a very powerful personal tool that can help you to get ahead in life. Delaying gratification refers to the ability to resist temptation, and to wait for rewards instead of seeking immediate satisfaction. To a child, delayed gratification is about choosing a piece of candy over a toy, for example. To an adult, it might mean going to a job you dislike because it has better career prospects, or waiting to buy a new car until you can really afford it.
How can you become financially free and independent by delaying gratification?
Most people have the notion that making money is about accumulating savings and investments, which is partly true. However, there’s more to this than meets the eye. Making money is also about not spending money that you don’t have. This is referred to as delayed gratification. In other words, you need to be able to delay the purchase of certain things that you want until you can buy them at a price that you really can afford. A person who is well trained in delayed gratification will ultimately reach financial freedom before one who is not.