Transcript

So one of the things that you really challenged me in my journey was understanding delay gratification. Could you share a little bit about the Stanford University marshmallow test? Sure. I love this. It's called the Stanford Marshmallow Project. Back in the 70s, some Stanford researchers wanted to understand delayed gratification, like where does that start? And so they would take a child and they would put the child in a room and on the table there would be 1 marsh and they would tell the child, you can have this one marshmallow. Or we're going to leave the room when we come back, we'll bring you another marshmallow and then you can have two marshmallows. And so they did this with, I think with hundreds of kids. It was quite a big study. And what they discovered is that the kids, there were two things that happened. Number one, a lot of the kids just ate the marshmallow and that was the end of that. Or some of the kids waited and use strategies like not looking at the person and, and the kids that waited and delayed that gratification. And they did it, the longitudinal study. What they discovered is those kids had better SAT scores, though these kids saved more in their 401K's. Those kids lived within their means and didn't have credit card debt. In other words, that is something that's inside of us that delayed gratification. And if you were the kid that ate the one marshmallow, it's not going to come naturally to you to delay the gratification. The financial advisor helps cultivate that. In you and you become a 2 marshmallow kid. That's what I wanna be. I wanna be a foreign marshmallow kid, yeah. That's good. So, so Ann is a financial advisor, financial quarterback that's helping the person follow the structure and the plan of delayed gratification. What you don't see, you don't spend.