Time is a Thief: How Present Bias and Procrastination Undermine Financial Health

By Sara V. Solano, BFA™

LodeStar Advisory Group LLC

There’s a common saying: Time is a thief. In behavioral finance, we might say: Your brain is helping it get away with the crime.

While this phrase often evokes the emotional passing of time—especially for parents—it also reveals something deeper and more measurable: Our tendency to undervalue the present bias, and it’s one of the most persistent behavioral obstacles to long-term financial well being.

Present Bias and Financial Decision-Making 

Present bias refers to the tendency to give stronger weight to immediate rewards over future ones, even when the future reward is significantly larger. In financial terms, this shows up as:

• Delaying retirement contributions

• Avoiding estate planning

• Overspending in the present and undersaving for long-term goals

• Reacting to short-term market volatility instead of staying focused on strategy

From a cognitive perspective, the brain’s reward system is designed to favor immediacy. The prefrontal cortex (responsible for future planning) often loses out to the limbic system, which governs emotions and immediate gratification.

The Hidden Cost of Waiting

Just as missing a “last moment” in life can’t be undone, the same holds true financially. The cost of waiting one year to start saving or investing is measurable and compounding. Delaying action reduces the impact of compounding returns, diminishes financial resilience, and increases long-term risk exposure. 

For example, someone who invests $5,000 annually starting at age 25 will accumulate significantly more by age 65 than someone who waits until age 35 to begin—even if the latter contributes more per year. Time in this sense, is more valuable than money. Once it’s gone, it’s gone.

Emotional Resilience and Long-Term Thinking

Part of effective financial planning is not just creating a strong investment portfolio—it’s also developing emotional resilience. Studies show that emotionally resilient individuals are less reactive to market fluctuations and more likely to stick with long-term strategies, even in uncertain times. This aligns with principles in behavioral financial advice (BFA), where managing emotions and building habits often takes priority over chasing performance. 

The ability to stay present—not just to life’s meaningful moments, but to the financial choices in front of us—is a competitive advantage. It allows clients to align actions with values and make progress toward goals without being derailed by short-term noise.

Conclusion: Stop Letting Time Steal Your Momentum

While markets fluctuate and life throws curveballs, the one constant is time—and its relentless passage. The clients who thrive long-term are those who commit to disciplined, values-aligned financial action today.

At LodeStar®, we help clients reduce procrastination, overcome behavioral traps, and stay focused on what matters most. Time might be a thief, but with the right systems, structure, and support, we can stop it from robbing your future.

---

Sara V. Solano, BFA™ is a Wealth Advisor who specializes in providing behavioral financial advice.

Disclosure: LodeStar Advisory Group LLC is an independent Registered Investment Adviser (RIA) headquartered in Naples, Florida. The above commentary does not constitute individual investment advice. The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. This material represents an assessment of the market environment at a specific time and is not intended to be a forecast of future events or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding the funds or any security in particular.