M21:58
如果你这么想的话会很有意思——我们把话题稍微说大一点——如果你想想一只三十年期、收益率百分之三的 government bond，再算上作为个人你拿到这百分之三还得交一些税，同时 Federal Reserve Board 还说他们的目标是维持百分之二的通胀。
It's interesting if you think about—we'll take it to a broader point—but if you think of a 30-year government bond paying 3%, and you allow for, as an individual, paying some taxes on the 3% you'll receive, and you'll have the Federal Reserve Board saying that their objective is to have 2% inflation.
你就会真正看出来，如果你持有长期 government bond，所谓延迟满足其实就是，三十年后你去 Disneyland，能坐的项目数量，跟你现在去能坐的差不多是一样的。
You'll really see that delayed gratification, if you own a long government bond, is that, you know, you get to go to Disneyland and ride the same number of rides 30 years from now that you would if you did it now.
对于投资固定金额类资产的人来说，这么低的利率其实意味着，你现在吃 hamburger，将来也未必就能吃上 steak。这跟很多年前我常常讲给我太太、孩子，以及所有愿意听的人听的那一套可不一样。
The low interest rates for people who invest in fixed-dollar investments really mean that you really aren't going to, you know, have to eat steak later on if you eat hamburgers now, which is what I used to preach to my wife and children and anybody else that would listen many years ago.
所以我不一定认为，对所有家庭、在所有情况下，存钱都一定是人生中最好的做法。
So I don't necessarily think that for all families in all circumstances, that saving money is necessarily the best thing to do in life.
我的意思是，如果你真的告诉孩子，不管是什么，他们从来不能去看电影，或者永远不能去 Disneyland 之类的，就因为如果我把这笔钱存下来，三十年以后，你知道的，我们就能住一个星期，而不是只住两天。
I mean, you know, if you really tell your kids they can, whatever it may be, they never go to the movies or will never go to Disneyland or something of the sort, because if I save this money, 30 years from now, you know, we'll be able to stay a week instead of 2 days.
我觉得，比起每一分钱都想着存下来，去做一些能给你和家人带来快乐的事情，其实很值得。
I think there's a lot to be said for doing things that bring you and your family enjoyment rather than trying to save every dime.
所以，延迟满足未必是坏事。
So, delayed gratification is not necessarily a bad thing.
但也不是在任何情况下都绝对正确的一套做法。
An unqualified course of action under all circumstances.
我一直相信，每赚一美元就花掉两三美分，剩下的都存起来。
I always believed in spending 2 or 3 cents out of every dollar I earned, saving the rest.
不过说真的，我一直都拥有我想要的一切。
But really, I've always had everything I wanted.
我的意思是，有一点你应该明白，如果你在拥有五万或十万美元的时候都不快乐，那你有了五千万或一亿美元也不会快乐。
I mean, one thing you should understand, if you aren't happy having $50,000 or $100,000, you're not going to be happy if you have $50 million or $100 million.
我是说，你看，钱达到一定数目，确实会让你自己、还有你身边的人，在某些情况下感觉更好一些，至少会更有安全感。
I mean, look, a certain amount of money does make you feel, and those around you feel better, just in terms of being more secure in some cases.
但是特别特别多的钱——我认识的有钱人大概不比任何人少——我不觉得他们是因为变得超级有钱就更快乐。
But loads and loads of money—I've probably known as many rich people as just about anybody—and I don't think they're happier because they get super rich.
我觉得，人们在不用为钱发愁的时候，确实会更开心；但是钱和幸福之间的相关性，过了某个点以后，你就看不太出来了。
I think they are happier when they don't have to worry about money, but you don't see a correlation between happiness and money beyond a certain point.
所以，别在延迟满足这件事上做得太过头。
So don't go overboard on delayed gratification.