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?
Standard of living refers to the level of wealth, comfort, material goods, and necessities available to a person or a group.
Savings and investments play a major role in shaping someone’s standard of living.
Yes, an individual who consistently saves and invests can significantly improve their standard of living, especially in the long run.