Back in the late 1960’s the Stanford psychologist, Walter Mischel, studied delayed gratification by placing a marshmallow before a child and offering them a choice: eat the marshmallow now or, if they wait a few minutes, get 2 marshmallows later. The original study found that children who were able to wait longer for their reward tended to have better life outcomes – educational attainment, better health statistics, etc. Suffer now, enjoy later. As a side note, although I am definitely a saver by nature, I wouldn’t wait 2 seconds to eat something chocolate placed before me.
There is a common narrative that savers will eventually reap great rewards by delaying gratification, but only after suffering first. In financial terms, one can eat their marshmallow only when they retire or reach financial freedom, but must drool until then.
There is, of course, a different way to view saving and accumulating wealth. I recently came across an advertisement from 1969 by the First Federal Savings and Loan Association of St. Petersburg. Florida, not Russia. I think it captures quite well the satisfaction and peace of mind one can enjoy NOW by saving and accumulating wealth. (I haven’t edited it, so replace their use of “man” with “person” in your mind while reading)