Patience Pays: The Power of Delayed Gratification

Phil's Tax Hacks · Nov 30, 2023 · 21m

Sometimes it’s hard to make financial sacrifices when the reward might not be seen until several years in the future. Today we’ll talk about some of the situations where you might be inclined to take the immediate benefit, when you should really consider the delayed rewards…

Here’s some of what we discuss in this episode:

2:32 – Passing up a 401k match

5:32 – Saving only in tax-deferred accounts

8:05 – Depleting emergency fund

10:37 – Cashing out retirement plan

13:24 – Delaying home maintenance

15:28 – Social Security at age 62

18:26 – Working with wrong advisor

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