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?
Investment and savings cannot increase our standard of living immediately. Reason been that investment is a long term financial strategy, its meant to create wealth so we dont rely on it to live to our fullest. Investment usually takes time to grow, and ROI is mostly used for getting things we cannot get with out income. Things like buying a house, owning our dream car or starting our dream business. On the other hand savings are meant for emergencies, to solve problems that arises when we dont expect it.
That is not always true. There are high risk short-term investments that make a lot of money if they are successful. As such, they are not a long term play and can increase your standard of living very fast.
If you are not ready to sacrifice your choice and taste for your future then you will struggle financially even when you earn much. what guaranteed success is money management and saving, if you lack saving it will cost you much tomorrow. No amount of money is small to save, if you read about successful businesses, you will be amazed to know that the ceo foundation was saving. Saving is good and useful when you use the saving to invest not just to save money in your bank and not using it to invest then it's waste.
The sad part of reality is that most people are not ready or able to sacrifice these things, and because of that most people are struggling with their finances.