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Practice delayed gratification to achieve longterm financial goals from "summary" of The Millionaire Next Door by Thomas J. Stanley,William D. Danko
One of the key principles that successful millionaires live by is the idea of delaying gratification in order to achieve their long-term financial goals. This means that they are willing to sacrifice short-term pleasures for the sake of greater financial security in the future. By resisting the temptation to spend money on luxury items or instant gratification, these individuals are able to build wealth steadily over time. The ability to delay gratification is a crucial trait that sets millionaires apart from the average person. While many people are focused on immediate rewards and instant satisfaction, millionaires understand the importance of patience and self-discipline when it comes to managing their finances. They are able to resist the urge to make impulse purchases and instead prioritize saving and investing for the long t...
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