Chapter
Delayed Gratification and Financial Success
52:40 - 57:50 (05:10)
Tracking studies have shown that children who are able to delay gratification are more likely to be successful in various aspects of their lives, including academics, career, and finances. A British entrepreneur, similar to Richard Branson, discusses his flamboyant lifestyle and decisions regarding spending money.
Clips
The host discusses the struggle of being frugal and how spending money on things that bring joy can lead to greater happiness.
52:40 - 53:18 (00:38)
Summary
The host discusses the struggle of being frugal and how spending money on things that bring joy can lead to greater happiness. The importance of delayed gratification is also mentioned.
ChapterDelayed Gratification and Financial Success
EpisodeMichael Sonnenfeldt: The Most Successful Real Estate Deal of All Time and Building a Community of Billionaires
PodcastMy First Million
The ability to delay gratification has been correlated with greater success in life, school, and business.
53:18 - 56:26 (03:08)
Summary
The ability to delay gratification has been correlated with greater success in life, school, and business. Living on 2% of the assets or less can be considered a safety zone for those who are solely living on the investments in their portfolio.
ChapterDelayed Gratification and Financial Success
EpisodeMichael Sonnenfeldt: The Most Successful Real Estate Deal of All Time and Building a Community of Billionaires
PodcastMy First Million
Felix Dennis, a British entrepreneur and author of How to Get Rich, was known for his flamboyant persona and similar traits to Richard Branson and Mick Jagger.
56:26 - 57:50 (01:24)
Summary
Felix Dennis, a British entrepreneur and author of How to Get Rich, was known for his flamboyant persona and similar traits to Richard Branson and Mick Jagger. With a focus on making millions and living extravagantly, his book may not be for everyone.