Standard Life, the long term savings and investments specialist, has conducted a poll and found that one in eight of UK adults adopt a ‘live for the moment’ culture and would choose the instant gratification of a £640 holiday this year, rather than be willing to wait five years for a holiday worth £5,000 instead.*
The figures come from Standard Life’s UK-wide poll and prize draw**, in partnership with boutique hotel specialist i-escape.com, which investigates the nation’s attitudes to planning for the future. Entrants have to vote on which prize they would prefer; a short break this year worth £640, or a holiday of a lifetime in five years time worth £5,000.
Standard Life’s John Lawson said: “Planning five years ahead is something many people find difficult to imagine or do their best to avoid. Our poll shows that some people just seem too impatient to wait for greater rewards in the future, no matter how enticing they are. But being patient and taking a long term view on your finances is precisely what helps you achieve your goals and, ensures you remain financially secure. It might seem easier to take a short term view, but unless you plan ahead how else can you look forward to your future with confidence and optimism?”
Standard Life also points out that if everyone was this impatient, the world would be a far different place. If one in eight of the doctors employed by the NHS weren’t patient enough to finish their studies, the UK would have 14,061 fewer doctors**. Inventions such as the Dyson vacuum cleaner may also have never been made if the inventor Mr James Dyson has been impatient, as it took five years to develop the iconic bagless vacuum cleaner***.