Image via WikipediaI am perplexed. Quite commonly people put off long term investments for short term ones. These investments can be in health, relationships, money, or whatever. Why? I am of the opinion that our society places the highest importance on urgent matters. In fact, very important, long term activities typically get the lowest priority. Everyone knows the importance of eating healthy and exercise but when inundated with urgent matters eat fast food and forgo their workout.
Case in point. I have a friend that eats, drinks, and smokes too much by just about any measure. A few months ago he had a health scare which caused him to change his eating, drinking, smoking, and exercise habits. Why? Because it was urgent and he was concerned about his longevity. Once he got comfortably out of the woods he fell back into his old ways because his health concerns were no longer urgent, no longer important. Short term one, long term zero.
When I was in my early 20's I knew many people who had decided to not go to college. I would ask them why and the most common answer I would hear was it is too difficult and time consuming. I use to think to myself working long hours at a low paying job for fifty years sounds more difficult and time consuming to me. Short term two, long term zero.
We have all heard that making a $10,000 investment today can turn into $1 million in 30 years. I know someone who came into some cash. They live paycheck to paycheck and have little to no savings. Nor are they putting money away for retirement. So did they make an investment with their windfall? No, they went on an expensive vacation that left them empty handed in less than a month. Check mate long term.
Why do we tend to be so near sided?
Tim Symchych
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