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.
If you do have plans on trying out to make your living having that kind of improvement then of course you do need up to set up those goals but since you are that making up some savings and investment then come to think that this is one of the most important way for you to achieve out such goal specially when dealing up with investment and business.We do know that when it comes into this aspect then this is the way on which you can commonly be able to achieve out such success on which of course it will be situational because not all people who do goes with this kind of venture would turned out to be successful and thats why there's no assurance about success but it doesnt mean that you will be hindering yourself on trying out to pursue such career. You wont be able to know unless you do try and its best that you should be that prepared on what are the things that could potentially happen.
On the moment that you do achieve out such success then you can freely be able to adjust your lifestyle on which in accordance on how much you do earn or simply the money you are making but of course you should be that still careful when it comes to spending because once you dont have any limits then you would definitely be that might having the risks on losing up those wealth overtime. So be sensible into the actions
that you are taking and not just that be careless on what you have build and what you have started.