Four years ago a Stanford University study gave a large marshmallow or cookie to four year old's one at a time. They were told that they could eat the treat now or wait 15 minutes, and be rewarded with a second. About 30% of the 600 children who participated were able to wait for the 2nd treat.
Interestingly, the study followed the children as they matured into adults. Those children with the self-discipline to wait for the 2nd marshmallow were generally more successful as adults. Over the last 37 years as a financial planner, I have seen similar results with those who saved their surplus dollars each month. A disciplined plan to accumulate savings monthly over time has helped our clients work through their financial goals. With long term goals and patience, you can start this same plan with your financial planner. Ask today!