We’re going to do a thought experiment about Future Discounting. Here’s how it works:
Choice 1: Would you rather have $100 today, or $110 in one month?
Stand up if you’d take the $100 today.
Choice 2: Would you rather have $100 in 12 months, or $110 in 13 months?
Stand up if you’d take the $100 in 12 months.
The waiting time is the same — one month — but most people answer differently. We tend to value things less the further away they are. This is called temporal discounting.
Here’s the big question: Should your future self matter as much as your present self? Is the person you’ll be in 30 years still you?
Let’s discuss why we treat our future selves like strangers.
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- learningnow