What do you understand by standard of living how do you think it can be affected by savings and investment. For instance do you think an individual who is actively trying to save and invest can improve their standard of living SIGNIFICANTLY or even maintain the one they already have?
Would you advise an individual to try improve their standard of living as they save and invest since saving and investment is a continuous process?
It will be a bit difficult to improve your standard of living while saving and investing. The purpose of your saving and investing is to improve your standard of living and earn more money. If you are spending money to improve your standard of living, how will you choose the money for saving and investing? You have to save and invest while living a simple life and reducing extra expenses. No matter how much you earn, if you spend freely, you may end up spending all your money, because human needs are endless. Therefore, I think it is better to keep your standard of living normal while saving and investing.