There is a debate about the factor structure of adults' ability to delay gratification and mixed findings concerning the relationship between delay of gratification and achievement. Three studies were conducted to show that delay of gratification had two components. In Study 1, exploratory factor analyses showed that the Generalizability of Deferment of Gratification Questionnaire had two factors: Controlling-Impulse and Planning-and-Waiting. Study 2 verified the two-factor structure by confirmatory factor analysis and demonstrated acceptable reliability, construct and divergent validity. Specifically, Planning-and-Waiting was correlated with delay-discounting, self-control, uncertainty avoidance, Openness, Conscientiousness, Agreeableness, and self-efficacy, whereas Controlling-Impulse was correlated with self-control, Conscientiousness, and Agreeableness. Moreover, Planning-and-Waiting was the unique predictor of CFC-Future, but Controlling-Impulse predicted substantive variance in both CFC-Future and CFC-Immediate. Study 3, using multi-wave and multi-source data, further showed that only Controlling-Impulse was an important predictor of long-term performance and creative performance, supporting the distinctiveness of the two factors.