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Deferred gratification is essential for wealth building from "summary" of Rich Dad Poor Dad by Robert T. Kiyosaki,Sharon Lechter
Deferred gratification is a concept that many people struggle to understand and practice. It requires the ability to delay immediate rewards in order to achieve long-term goals. This principle is essential for wealth building because it involves making sacrifices in the present in order to secure a better financial future. In the book "Rich Dad Poor Dad," the authors emphasize the importance of deferred gratification in building wealth. They explain that many people are focused on instant gratification, which leads them to spend money on things they don't need and can't afford. This mentality prevents them from saving and investing for the future, ultimately hindering their ability to build wealth. On the other hand, individuals who practice deferred gratification are a...
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