Can marshmallows determine our fate? More specifically, can our response to them determine our academic, social and financial success? Back in the 1960s and 1970s, Walter Mischel and his colleagues at the psychology department of Stanford University designed an experiment to test the ability to delay gratification in small children aged 3 to 5.
He put a marshmallow in front of the child and told them if they were able to wait 15 minutes to eat it, they would get a second marshmallow. They left the room and discreetly observed the results of how long the children would wait. Some waited longer than others.
What was interesting was that when they tracked these children over time, the ones who were able to wait and delay gratification had better academic scores and got into better colleges. It seemed like they had discovered a key link in our inherent ability to put off immediate pleasure for larger rewards later and long-term outcomes.
Through the years, this test has been refined and more nuances have been teased out, with a developing understanding of how poverty, culture and other environmental factors play a role, but as someone with 16 years’ experience in the classroom, none of these results shock me.
Students who can delay playing and distraction are those who are most often successful. They can focus on work better and get more done. They tend to be kids who read for pleasure instead of being locked to the bright lights of a screen. Of course, they get better grades, go on to better colleges and build careers in difficult fields that require years of dedicated study.
As adults, we are often faced with a larger marshmallow test. Can we ignore the flashing advertisements of our consumerist world, ignore the instant dopamine rush of retail therapy, and instead save money and invest it regularly? Can we put off the immediate benefit of spending our paycheque on fun things and instead build real wealth that can get us freedom from the daily drudgery of jobs we hate?
For most people, the answer is complicated and lies somewhere on a spectrum. They spend more during some months and save more during others. Sadly, far too many feel like investing is too complicated and give their money to “financial advisers” who sell them overly complex products that rarely benefit the person saving, but instead greatly enrich the adviser.
This is why the Financial Independence Retire Early (FIRE) movement is still on the fringes of society and not mainstream, no matter what percentage of people say they want to quit their job or be free of financial worries.
First you have to overcome an adult marshmallow test to save money, then you have to invest wisely, which requires a bit of education, and then you have to have a fairly lucky streak of no emergencies for several years to build up the nest egg that is necessary to get off the hamster wheel and achieve independence. The deck seems stacked against us from the beginning, for a lot of reasons.
A key element in building your ability to defer gratification and meet your financial goals is the support of a strong community
When the choice is between brunch with friends and saving money for some abstract future, the easy choice is to do the fun thing. I’ve known people who lived in the UAE for years, making good salaries and who had nothing to show for it, financially speaking, when they left. They had failed the marshmallow test.
Even worse, some lived beyond their means and went into debt, creating difficult legal situations and giant financial holes they had to struggle to escape for years.
A key element in building your ability to defer gratification and meet your financial goals is the support of a strong community. Finding a tribe of people who celebrate your accomplishments and give you resources that guide you on the path to financial independence is critical because you won’t feel like a weirdo when you make different and sometimes difficult choices.
In the UAE, SimplyFi on Facebook is a fantastic and free community that provides such support. There are others around the world as well, like ChooseFi, Bogleheads and the Mr. Money Mustache community. These groups are filled with people at every stage of the journey, from getting out of debt, learning to save, learning to invest, and even those who have already achieved financial independence and quit their day jobs to pursue less lucrative but more rewarding lives.
The world may be set up to make you scarf down the marshmallow of immediate gratification, but you can fight back. You don’t even have to do it alone.
Schoolteacher Zach Holz (@HappiestTeach) documents his journey towards financial independence on his personal finance blog The Happiest Teacher
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
More coverage from the Future Forum
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
The specs
Price, base / as tested Dh12 million
Engine 8.0-litre quad-turbo, W16
Gearbox seven-speed dual clutch auto
Power 1479 @ 6,700rpm
Torque 1600Nm @ 2,000rpm 0-100kph: 2.6 seconds 0-200kph: 6.1 seconds
Top speed 420 kph (governed)
Fuel economy, combined 35.2L / 100km (est)
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Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
