Quote from: Fredomago on July 14, 2025, 06:08:03 PM

Quote from: rachael9385 on July 12, 2025, 09:44:56 PM

Quote from: Stepstowealth on May 19, 2025, 01:47:12 PM

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?

The essence of life itself is about growth and development, it's important to improve your life not to impress others but you are doing it for yourself. But the problem with a lot of people is that they do things above their means. While you are improving your standard of living gradually also work on making investments because life isn't only about the present, you must also make sure your future is secured

If you seriously thinking about your future then you need to sacrifice your present, what I mean is those extra enjoyment that you can cater which requires you to spend a lot to the point that you needed to loan or barrow from a friend those things can be save then along the way you can use it to invest, that perspective will help you to secure your future though you still needs to work on it in terms of selecting your investment but if you succeed surely you'll be enjoying a much comfortable life.

You want to explain that you have to give up the present luxurious life. This method will be good and inspiring for people like us with low income. Most people plan for both the present and the future and deposit a part of their discretionary income. It is not reasonable to build the future by neglecting the present. I oppose this kind of mentality where some people are stingy in meeting the daily needs of the family and increase their investment/accumulation. They are harming their health to increase their investment, do not take care of their family properly and choose poverty. Therefore, it should be recommended to every investor that from the amount of salary they receive weekly, they spend on their family. The remaining amount should be allocated for investment (this is discretionary income). This is the right decision. Income is the daily expenses of the family, investment from discretionary income and assurance of a pretty future.