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?
Saving and investing are both very important for people to secure their future, but currently, saving, especially keeping money in the bank, is definitely not appropriate due to inflation. Again, if I say that investing in something, especially gold or Bitcoin, and it is a decision to hold it for the long term, it is definitely suitable for savings and it is free from the effects of inflation.
The decline in value is at least a consideration that must be considered if we are trying to make the choice to save. Not that saving is bad because of course this is a good thing but in the end it needs to be realized that there must be more thought if you really want better profits and investment can be the answer.
Although in the end we also cannot rule out risk in this case but when the results can be comparable then I think it's okay to invest.
It's just that in this case it depends on each choice and perspective because indeed things like this must be based on self-belief so as not to let the choices we already have be considered the wrong choice because we don't believe in the path we are taking.
So we only need to do according to our will because it will be very useless even if other people think that investment is very good but we don't want that as well as savings.
I still choose investment in this case but surely everyone's thoughts are different which will make pros and cons occur, even so when we have made a decision and we are sure of what we want to do then in the end we will not be in doubt about the choices we have made.