You may or may not have heard of this test. The marshmallow test, also known as the Stanford marshmallow experiment, was a study on delayed gratification. The study started in the 1960’s and continued into the 1970’s and it gave young children an option: they could have one marshmallow now, or if they wait 15 minutes, they would get two marshmallows.
As you can imagine, there was a lot of kicking and screaming and some of the kids even covered their eyes, but what the psychologists found out is that being able to delay gratification is a huge indicator of future success.
At the time of the experiment, there were 32 children, ranging in ages from 3 to 8, but about 5 years old was the average. The follow-up studies showed that the children who were able to delay gratification had higher SAT scores and educational outcomes and also lower BMI indexes. What that means is that they were skinnier and achieved more in school.
What if I told you that by delaying gratification and sacrificing the car you can’t afford and not putting your vacations on a credit card and making smart choices while you’re young meant you could pretty much do whatever you wanted later and drive whatever you want? Would you be willing to take my challenge? If so, then GREAT! I can help you!
Now, I know there’s a portion of young people who feel that they could die tomorrow and so they live their life as if it’s their last day with no thoughts of the future. Would you believe me if I told you I was one of them? I did almost die when I was 15 so I spent from 16-29 living a fun-filled life, living for the moment and not thinking about tomorrow. Now that I’m 36, while I’m glad I had many of the experiences I did (DEFINITELY some I wish hadn’t happened), I can tell you I’m much more fulfilled making my life choices for 2, 3 and 5 years from now while also having a plan for 15, 30 and 50 years from now than solely thinking about the moment. It’s not bad to live in the moment, but I think making all your choices for what feels good right now will lead you down a bad financial path.
If you want to hear the full story of how I almost died, check out my Soundcloud account here or at soundcloud.com/jasonjhamilton and also my success secrets college won’t teach you.