I promise the title will make sense by the end of this post, so give me a moment before lighting your torches: When building a portfolio, you build a habit of delayed gratification. Not touching your money today, to have more tomorrow. This is great, and saving and investing your money is what everyone should do. But you shouldn’t endlessly save (“delay”), because you’ll die eventually. This is the sentiment I’ve developed over the past year as my savings have increased, and as I witness my family continue to hoard cash as they approach their later years. I think to myself: “The entire point of investing (whether in individual stocks, $VFV or $XEQT) is to save money and grow your net worth long-term. But when does the trail end?” When do you finally get to “gratify” after delaying gratification all those years? When you’re age 76 about to die in T-minus 6 years? I think not. I believe along this journey of saving and investing, we should gratify while delaying gratification. And yes, that’s simultaneously possible. I personally happen to be a diehard saver because I obsess over certain things. My job or a business, gym and fitness, any Dune or Avatar movie after seeing it in theatres—whatever it may be. Not finding any enjoyment spending money helps fuel this even more, but in the end, I just save. More and more, and as much as possible, at all times. Now obviously, I’m not an alien (I think), and I get spending temptations like anyone with a prefrontal cortex. But I do get over these temptations easier than most. Here’s an inner monologue example that many of us have when it comes to impulse buying, and how I deal with it: *Sees Nintendo Switch 2 ad* Thought: “Hm. I don’t have a game console and I like the new Switch 2” Thought 2: “Meh, it’s $700, that’s a bit too much.” Thought 3: “But I mean, I’ve invested much more this year, so it’d even out…” Thought 4: “Buddy, you’re gonna die in 50.” *Buys* If I ever spend the day thinking of something I want, then wake up in a week still thinking about it, I’ll usually buy it. This is usually only for big items, and yes, I did this recently with buying myself a Switch 2. I delay gratification for the vast majority of my finances (I still save and invest over 60% of my income), but I don’t wait until my portfolio reaches a certain goal before buying something I want. Whether with small or relatively large purchases. This applies to a medium double-double coffee from Tim’s, as much as it does to a game console. The only spending exception being $SBUX (those demons of the profit-driven imported coffee underworld). If I want something that won’t financially cripple me, and I’ve slept on it, I’ll just buy on the basis that “I’ll die eventually, and $100 on that beautiful tennis racket is very unlikely to change my future goals in the grand scheme of things.” The main idea of life is to be happy. Nothing else should matter. I believe when you die, you die. I believe that in the end, your chips will be cashed in. I’d rather cash out my chips on my own terms, or at the bare minimum, cash out small amounts along the way to buy what I genuinely want, without sacrificing my future or its goals. Don’t be afraid to spend money. Even if some think it’s foolish. As long as your current life or future goals don’t get hurt negatively from the purchase, buy what will make you happy. Seriously, you’re going to die eventually. Most of us keep it at the back of our mind, but it’s inevitable and it edges closer every day. Tragic, but inevitable. We should all keep saving and investing as much as possible, especially if we’re young. But also, buy the tennis racket, or whatever purchase relates to you. If you don’t allow yourself to spend for pleasure while also saving for your future, you’re living a lie “delaying gratification” because there was no “future gratification” in the first place. Spend if you have the option, and if it’ll truly make you happy or improve yourself. Just do so within reason, and after your financial obligations are met. Otherwise, don’t keep saving without defining what you’re saving towards. Because there’ll inevitably come a time where your saving will end regardless, whether it’s your choice or not. Cheers, friends. Thanks for reading. Happy investing.
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83 Comments
Jacob B
@jacobb · 9moEdited
Note: My sister bought three small Starbucks iced coffees yesterday via DoorDash and it cost $30 and I nearly lost my mind. So I’m a justified Starbucks hater. No one can change my mind.
Kaja
@kajaa · 9moEdited
I needed this. I’ve been so focused on catching up on my investments because I didn’t start investing until I was in my early 30s that I’ve gotten to the point where every little purchase stresses me out. I have a trip to Japan coming up in March and I’m going to let go of those thoughts and have a great time. It’s okay to pause the savings to create nice experiences and memories! Thank you! ☺️
le bib@le_bib · 9mo
As a shareholder of Nintendo, I approve this message.
Ade O
@kingadey · 9mo
I love this post, Jacob! What I always strive for is balance; enjoying today while also saving for one's future self. Delaying gratification means avoiding impulse buying, not following the Joneses, and staying in your own lane. Balance isn’t easy, but once mastered, it’s a game-changer.
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