Deferred Gratification

Trading a smaller reward now for a larger one later - the temperament every compounding model depends on. Early in life the savings rate matters more than the return rate, because a dollar unconsumed at thirty carries doublings a dollar at fifty-five never will. The research suggests structure beats willpower, so the saving should be automated rather than re-decided monthly.

13 books · 2 people behind it · 3 resources

Start here

  1. The Richest Man in BabylonGeorge S. Clason, 1926
  2. The Psychology of MoneyMorgan Housel, 2020
  3. The Marshmallow TestWalter Mischel, 2014

The people behind it 2

Each person holds a book in this entry or names it in their own tags.

Journalists 2

MH
Morgan Housel1 book here
WI
Walter Isaacson1 book here

Resources 3

Books 13

Lydia Maria Child · 1829 · 1829 household economy manual; thrift treated as a financial system
William J. Dawson · 2011 · Edwardian essay on living deliberately below your means