Delayed Gratification
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Applying "Delayed Gratification" to personal finance as inspired by Robert Kiyosaki's Rich Dad Poor Dad
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Delayed Gratification
- 1. Delayed Gratification a worthwhile habit?
- 2. Delayed Gratification the ability to wait in order to obtain something that one wants
- 3. The 50k Race • Loaning a myvi ? • Take a 7 year loan • You pay ~ RM700 per month • You pay a total of 60k
- 4. The 50k Race • Saving for a myvi • You pay ~ RM700 per month • You get 50k in 5 1/2 years • You pay a total of 47.5k • You save - RM12.5k
- 5. Taking it further • Rich Dad / Poor Dad • Keep your RM720p/m for life - You will retire with a million dollars • Problem : Finding the safest investment
- 6. Other Benefits • Builds character • Control impules • Higher satisfaction
- 7. Links / Resources My Blog on Compounding http://logicsoul.com/2010/379326138/ Marshmallow Test http://www.youtube.com/watch?v=wWW1vpz1ybo Flash compound interest calculator http://www.econedlink.org/interactives/interest.html