I was talking to someone about the commission at work. They said that most people would rather get their 7% commission up front instead of getting 15% over 2 years. That’s the short-term thinking that leads to perpetual poverty, because they gave up over a 100% return for just waiting 2 years.
Most people agree that a GREAT return on their investment is 100% in 6 years.
The more you think ahead in life, the better off you’ll be. Think of where you will be in 30-40 years, instead of living in the moment. Your moment will be gone forever, and you will eventually have to face your future.
Every dollar you spend now is $10 less you will have in 40 years, because instead of investing it, you traded it in for another good that will not appreciate in value.
Just before I came down to North Carolina for my youngest daughter’s college graduation this weekend, she asked me whether she needed to set aside a few minutes for “another one of those financial talks that you like so much at moments like this.”