Delayed Gratification, (Is it worth it)?

Delayed Gratification

Britannica.com defines delayed gratification as follows: “delay of gratification, the act of resisting an impulse to take an immediately available reward in the hope of obtaining a more-valued reward in the future. The ability to delay gratification is essential to self-regulation, or self-control.”

We have all heard this term thrown around in the personal finance and real estate investing space. I have done my best to live by this phrase and how it translates into our world. At times, this is easier said than done. Dave Ramsey often says, “live today like no one else, so one day you can live like no one else.” Is it worth it?

However, I was recently reinspired and began thinking deeply about this concept taken to the extremes. I was watching a documentary talking about the progress made on development of controlled fusion, and its ability to potentially give mankind enough safe, reusable energy to power our world without fossil fuels. Let There Be Light (2017), https://www.imdb.com/title/tt6184774/.

The film was going through the historical developments of this science and how so many early scientists in the 1940s-1960s dedicated their lives to moving the needle on this process just a few %. Knowing that at the end, when mankind fully harnesses the power of the sun, it will be worth the sacrifice to give us all a lasting future. The timelines even current scientists speak in was humbling to me. They believe by 2030 we can have controlled fusion, by 2050 we could begin implementing fusion reactor power plants and actually benefiting from this development. Countless scientists will give their entire careers to this development, knowing fully that they will not reap the benefits or perhaps even see them in their lifetime. It also costs billions of dollars to fund this research and many governments fail to see the long term benefits for the short term costs, or that the risks and costs will outweigh the benefits. Many investors share this sentiment.

Why should I sacrifice today for tomorrow? I am missing time with my kids, family, friends, to become financially free? I cannot take the money with me, why should I care about being wealthy? Is it worth it?

I was once so focused on changing my financial position that I worked 70-90 hours a week for 5 years. As you can imagine I lost countless days, events, and memories with my friends, family, and my oldest daughter. I kept telling myself it will all pay off in the end. Perhaps it will.

I have reached financial freedom, I have enough passive income to pay my bills. It has allowed me to leave my W-2 job, grow my businesses, grow my investment portfolio and work around 30 hours per week currently. I was able to buy my “freedom” through delayed gratification. I still believe in this concept, I am still investing in my future, knowing my current efforts will pay larger dividends in the future. I am building a legacy for my family and children, and one day grandchildren, etc. I am pulling my family from lower middle class to another place in America, yet to be determined.

I know that my past and current sacrifices can move the needle for future generations, it will give my children a better life than I had, it will give them more opportunities and experiences than I had. It will allow me the time and finances to give back to the world in meaningful ways as I continue to grow in all aspects of my life.

Conclusion:

The purpose of this blog post is to hopefully give you the same insights that I gained from this documentary and how it applies to our investing and wealth generation journeys. I truly believe that making these concepts of delayed gratification part of your being is essential to becoming a successful long term investor. I hope you can also be inspired to continue your journey by this blog, and by the brilliant scientist trying to better our world a small step at a time.

Thank you for reading.

Are you living a life of delayed gratification? How has it impacted your journey? Comment below!

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Joe Cornwell

Realty One Stop