The marshmallow experiment: delayed vs instant gratification

[Quantum]

The marshmallow experiment

"Mischel and his colleagues were interested in strategies that preschool children used to resist temptation. They presented four-year-olds with a marshmallow and told the children that they had two options: (1) ring a bell at any point to summon the experimenter and eat the marshmallow, or (2) wait until the experimenter returned (about 15 minutes later), and earn two marshmallows. The message was: "small reward now, bigger reward later."
(https://en.wikipedia.org/wiki/Delayed...)

This experiment brings me to my question, how important is delayed gratification to success--economic and personal (that which we might term (long-term) happiness or contentment)?

[Tara Woods Turner]

My sister sent me this same article once! I think it takes equal parts patience and spontaneity to be happy. Every thought need not be about attaining your desires but at the same time tomorrow never comes.

[Nik]

Agree with Tara that balance is important. One needs to know to postpone things and be cool/patient about it, but not necessarily employ waiting on everything... Anyhow it's an important trait.
Heard that some psychologists advise to teach kids to endure boredom as a counterbalance for constant search of new short-spell excitements.
Success not necessarily has a formula leading to it and two people having similar set of skills and traits may not necessarily arrive at the same level of success and happiness. Knowing how to cope coolly with waiting may contribute to emotional balance..

[Ian]

Saving is delayed gratification. When you get as old as I am, you can appreciate the fact you delayed your gratification when younger because it is a lot more comfortable when you don't have to worry about money.
Also, of course, investing is delayed gratification, but you can significantly multiply the benefits.

[Rita]

Even saving for little things is satisfying. As a teenager I would see a dress I liked in a shop and save each week until I could afford it - much more exciting than putting it on your credit card! Same with sex, I think today they miss out on so much - that first holding of hands, the first kiss, the long drawn-out kisses that came later.