If I were to offer you $50 now or $100 in a year, which would you take? Clearly, you’ll take the $50 now. After all, who knows what could happen in a year, right? OK, so what if I instead offered you $50 in five years or $100 in six years? Nothing has changed other than adding a delay, but now it feels just as natural to wait for the $100. After all, you already have to wait a long time.
