This is perhaps one of the most important concepts I’ve come across. It is called the concept of time preference.
I was first introduced to this concept in the Bitcoin Standard written by Saifedean Ammous.
So what is time preference?
Time preference is simply a person’s preference for actions that feel good now versus actions that will make you feel good 10 years from now.
High time preference = “I want to feel good now.”
Low time preference = “This may not feel good now, but I will thank myself for this a few years from now.”
High time preference habits:
- Spending on materialistic goods.
- Alcohol consumption.
- Spending hours surfing the web/social media.
- Working as a wage slave.
- Watching television.
- Putting large amounts of energy into politics.
- Watching pornography.
Low time preference habits:
- Writing/producing content to help others.
- Eating healthy foods.
- Building a business/working for yourself.
- Reading a book.
- Putting large amount of energy into building a skill.
- Fulfilling hobbies.
All time is a seed. This is the belief I have tried to instill in myself to become a more low time preference man.
Each Day, hour, minute, and second is a seed that you can either plant in this now moment to reap the rewards at a later date OR you can feel good now and let the seed go to waste forever.
Of course we will all let some seeds go to waste, this is not a success porn blog. Rest can be a low time preference habit too.
Strive to become a low time preference man. It can be the difference between “Where did the time go?” and “I made the most of this past decade.”
We are already 1 year into this new decade, just thought I’d offer a little reminder heading into the new year.
Talk to you soon brothers.