Delayed Gratification

Over the last few months, I’ve been thinking a lot about value and the things I care about. The other part of that equation is delayed gratification.

What Is Delayed Gratification?

Delayed gratification is the ability to resist an immediate reward in favor of a more valuable reward in the future.

Why Is This An Important Concept?

While value is something I often reflect on, it's not the main goal of my life. My overarching objective is to one day be an old man, able to look back and say:

Not only did I achieve the goals I set out to achieve, but I also enjoyed life to the fullest—minimizing regret as much as possible.

A few months ago, I read a thought-provoking book called Die with Zero by Bill Perkins. While I didn’t agree with everything in it, it led me to some valuable ideas—particularly around timing and when the best moments are to enjoy certain experiences.

A Simple Example

Traveling the world is likely far more enjoyable in your 40s than your 70s (if you can even do it then). Some experiences require physical ability, and we should aim to take advantage of those windows while we can.

How Does Delayed Gratification Tie Into This?

I often find myself torn when it comes to spending money.

On one hand, I want to go full-on penny pincher and save as much as humanly possible, knowing that one day I’ll have a big pot of money waiting for me.

On the other hand, tomorrow isn't promised. Living life in penny-pincher mode for years—or decades—just to hopefully enjoy it “someday” seems foolish. In my post about my FIRE journey, I talked about how my parents delayed too long—and never got to enjoy the life they had planned. I don't want to repeat that story.

Not to mention: I recently realized that nearly everyone I know over 60 has encountered some kind of significant health issue they didn’t have before. While I don’t plan to retire at 60, that realization puts things into perspective. Waiting too long could mean missing out entirely.

Middle Ground

If you could imagine a scale from extreme penny pincher on one side to full-on YOLO on the other, I’d say I still lean much closer to the penny-pincher side.

I want to maximize life experiences while also saving aggressively—with the hope of reaching FIRE at a reasonable age.

In my last post, One Car or $2 Million?, I talked about how one decision—a car purchase—can make a massive impact on your financial future. That example isn’t pure delayed gratification (he didn’t wait to buy a car altogether), but it was a form of compromise: He waited to buy the car he really wanted.

That’s how I think about delayed gratification. It’s not about depriving yourself forever. It’s about making trade-offs—strategic compromises in the meantime.

Simple Examples

Instead of never going on vacation, take smaller/cheaper ones while you build wealth—then go bigger once you're more established.

Buy a lesser trim level of your dream car. 

Dine out at nice places—but less often.

You're not giving up the thing entirely. You're getting 80–90% of the experience and delaying the most expensive version for later.

My Example

For years, I wanted a Mustang GT. I technically could have bought one, but knew I probably shouldn’t if I was trying to be smart.

So I waited.

I finally got my Mustang GT in July 2024.

In the meantime, I bought V6 Mustangs that cost about 50% of what the GT would have.

No, they weren’t exactly what I wanted—but I still got about 90% of the experience at 50% of the cost.

But again, you can delay too long.

If you're in your 30s, 40s, or 50s and have always dreamed of traveling—and you can afford it—do it. Waiting too long could mean never going at all.

My Generation

What I find interesting is how many people, especially under 30, struggle a lot with delaying gratification.

In my opinion, this is the #1 reason so many are living paycheck to paycheck. Many of them are in good jobs and have the ability to save, but their self-control is minimal. Delayed gratification? Nearly nonexistent.

Self-control and a little discipline can go a looooong way today. But it’s never been harder—we’ve never lived in a world with more distractions.

TikTok Shop, Uber Eats, targeted ads—you name it. Everything is designed to get you to consume now.

And it's working.

I know so many young people who spend hundreds every month on these conveniences—and wonder why they’re always broke. Even worse, when I ask if they want to change, many don’t.

The dopamine hit from getting something new right now, is that strong.

What Do I Do?

Here’s a system I personally use:

I keep a running list of all the things I want to buy, broken down into categories by price:

$0–$25

$26–$100

$101–$200

$201–$500

$501+

This helps me see what I want without acting impulsively. If something really matters to me, it’ll stay on the list—and I’ll eventually buy it if it fits the budget. But I’ve also noticed:

Some things are just fleeting wants. Others are wants... but not strong ones.

Example: I’ve wanted to buy a new office chair for two years—one with padded arms instead of hard plastic. But my current chair still works. So do I want it? Yes.

But how badly is the real question. Obviously not bad enough or I would have bought one already. 

It is my belief that with a little discipline, a little self control and a little planning that almost all financial goals are achievable. Unfortunately most people lack the first two and plan on never getting any better.