Why Care About The Long Term?

Trent Hamm at the The Simple Dollar recently put out an insightful post about the blessings and difficulties of maintaining a long-term perspective. Generally speaking, there are two effects of self-deprivation in the present moment. Some of it is intelligent if it leads to long-term happiness (i.e. skip bowling with friends to save money for a down payment on a house, skip buying that six pack of Coca-Cola so that you can invest in Coke stock for dividend income later in life, etc). But to be sure, there is a limit to the benefits of delayed gratification. As Warren Buffett has said, 'You can't save sex for old age.' I recently read an article in the Philadelphia Inquirer about a father who died at the age of 52, and the son lamented that his dad always dedicated himself to making more money, poignantly noting how little father/son time they got to spend together before his untimely death. That was absolutely heart-breaking to read. The balance is hard to reach, but essentially, you should ask yourself this question before making any purchase, 'Would my long-term happiness be maximized by spending money now, or by saving it for something greater?' And one of the tests of life is trying to answer that question correctly.

To read Trent Hamm's view on the matter, click here: http://www.thesimpledollar.com/2011/06/21/some-thoughts-on-the-long-term/