Savings and Investment, and how it can affect standard of living.

[Stepstowealth]

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?

[avikz]

I will give you my advice and it may not go as per what the masses think.

For me, the goal is freedom. Money is just a tool to reach that goal. I personally do not want to die with high diabetes cholesterol or any risk for heart diseases. So I have decided to move out of the corporate world in next few years. This plan has started 5 years back and since then I have been saving and investing heavily into market opportunities.

So even though my income has increase, I did not increase my standard of living to keep my expenditure under check.

Increasing standard of living is a subjective thing and it will very from one individual to another. Personally I would like to go back to my village and live a slow life over there. That is freedom for me. The personally I couldn't suggest people to increase their standard of living, rather I would tell them to find ways to take early retirement. Life is short so enjoy it!

[Don Pedro Dinero]

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?

For most people who are in paid employment, not saving and investing will result in them becoming poorer over time because of the inflation scam.

To greatly improve your standard of living simply by investing you need a lot of time, very profitable investments, or a combination of both. It also depends on your savings/investment rate. If you are able to save/invest 50% of your income you will not only get richer in the future relatively quickly by investing more capital, but by having a low cost way of life, the improvements will be very noticeable.

[Rockstarguy]

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?

If you are trying to meet a good standard of living, you may never save or invest. To save and invest, in most cases, we need not even consider the standard of living because the goal is to save and invest to reach another financial level.

I would say that to improve one's financial situation, one should seek more sources of income; however, one thing about the standard of living is that the more income and financial stability one gains, the level of financial living also increases. The main goal is to concentrate on saving and investing, because if you focus on improving your financial living, you may end up not saving or investing at all.

[Helena Yu]

Unfortunately I'm someone who not increase my living standard even though I invest heavily.

It feels weird for me, whenever I want to spend money for my desire, I will think many times and ended up not buy it. I only spend for something that worth for money or needs.

Example, I drive old motorcycle because that's what I have and I have no problem with that. I can afford an entry level car, but it will cost me 15x times of my motorcycle cost and other hidden cost e.g. maintenance, tax, and other thing.

I always think like this, why I have to buy a car if I can just order an Uber?

If you are trying to meet a good standard of living, you may never save or invest. To save and invest, in most cases, we need not even consider the standard of living because the goal is to save and invest to reach another financial level.

Yeah both of them are completely opposites, they have different goals.

The first group cares "you only live once", the second group cares "we never know the future".

[Joy- maker]

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?

If you are trying to meet a good standard of living, you may never save or invest. To save and invest, in most cases, we need not even consider the standard of living because the goal is to save and invest to reach another financial level.

I would say that to improve one's financial situation, one should seek more sources of income; however, one thing about the standard of living is that the more income and financial stability one gains, the level of financial living also increases. The main goal is to concentrate on saving and investing, because if you focus on improving your financial living, you may end up not saving or investing at all.

I totally agree with you, and you have also spoken my mind, our major concern here should be on how we can increase our savings and improve in our investments and not to increase our standard of living, less take for example you can afford 3 square meal a day for yourself and family if there is any, you can pay your bills, you already have a car, a house and some on, so tell me what other standard of living do you want to migrade into? Is it flaunting of money, buying luxury cars, building houses, travelling all over the world? If you do all of this you may end up saving nothing or investing nothing.

[YOSHIE]

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?

You can take examples of experiences around you, those who have an economy and those who do not have an economy, the article two factors can clearly affect the standard of living of a person.

Saving you will be deadlocked on your savings only, if you save $100/week it certainly will not add to the standard of living only on savings.
But investment can actually affect the improvement of your life, for example You invest $100/week, depending on what you invest, next week $100 can be $120 that is more improved by a person's standard of life.

Basically, investment is very influential on what you invest and it can automatically affect a person's standard of living.

[ancafe]

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?

I would rather suggest people invest than save because in the long run the money we save will not produce a commensurate return and instead the value of the currency we have will depreciate. In the context of investment you need to see opportunities because not everything can go well and on the contrary there are investments that are run that are not able to grow and develop all the time, so deciding on investment is also based on opportunities or good potential.

Investment can be profitable if you choose potential because in economic conditions that are not good, investments that have a good fundamental level are needed. For example, choosing to invest in bitcoin and gold, then in the long term the value of the currency you place will be much more productive so that it will provide a commensurate return.

[EL MOHA]

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?

One thing I have actually noticed when topics of investing and savings comes up it is usually containing opinions like the investors wouldn’t be able to Maintain his or her lifestyle again and probably has to live a substandard lifestyle for the investment to work out. For me I think this isn’t all true, in as much as you can have a luxurious lifestyle if the investment hasn’t pass the beta stage I also don’t see the reason why investor should live low life simply because they want to invest, this on multiple occasions affects the health of one.

For me it is simply picking to invest and while investing the investor should cut cost on extravagances but can still maintain his living standards most especially when it had to deals with one’s needs, the investment funds should be coming from the extravagant funds, savings and little from your needs which are not needed all the time

[bitzizzix]

It can be said that I myself do not really determine what my standard of living has been like so far. And what I do is just try to do what I can for myself and my family, for the life I live and sustainability and also for the future by working to earn money and also from other sources of income that I use to meet all needs, for investment with long-term goals or the future and also to save as an emergency fund. And all that I do very safely and comfortably because I am still given sustenance by Allah that I must make the best use of and also share a little, for now and also for the future happily.

[uneng]

What do you understand by standard of living how do you think it can be affected by savings and investment.

Of course life standards are directly affected by your personal savings and investments. The more money you manage to save, more you will have to apply through investments, generating further sources of income or raising the ones you already have.

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?

To achieve results he has to succeed, and not just to try. To try is the first step when pursuing for improvements in your financial life, but there are many other aspects involved until reaching the final destiny everyone looks for: results.

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?

They have to try while studying what is the best means to invest money right now. It's not a statical process, and the best investment alternatives last year might not be the same this year. The process is dynamic and continuous, so we, as investors, have to adapt ourselved to the current reality imposed by the world of economics and finances.

[Ucy]

If you are a poor investor, I would advice that you live a humble lifestyle while focusing on improving your source of income from your investment/savings. The investment has to be profitable, and by profitable I mean it should be used for something very useful(or productive), and should be able to sustain itself from that useful thing, and not at the detriment of those who can't afford it though... Whatever investment or business  you choose to engage in should be affordable to the poor too.

I would live a humble lifestyle regardless of the size of my source of income.. Whatever I own should be necessary and possibly profitable. No luxuries, no unnecessary or expensive things that I can't afford to maintain/use.. If you have money for a car, don't buy it if you can't maintain it. It's better to buy a vehicle for business instead. If you have money for $100 dollar worth of bed/shoes, go for something 10 or 20 times cheaper/comfortable and invest the rest of the money in something profitable

I believe this needs wisdom (and self control) to implement. And they come from our CREATOR

[Apocollapse]

From my own perspective, the best way if you want to increase your standard of living, make sure you work in high skill jobs where your salary can always increase or you're a businessman.

If you only work in jobs which give you a good amount of salary, but you're stuck or the salary only increase along with inflation rate, I won't recommend to increase your living standard.

I work in job which give me a good salary, but not really that high, I invest a lot, but I realize my investment doesn't grow.

What I mean is like this, I have Bitcoin, let's say I bought at $50K and now it's worth $100K, that mean my capital now doubled, right? but it's just investment, investor mindset is the larger I invest and the longer I hold, it will bring a lot money in the future.

My question is when we will enjoy it?

It's different if you have a job that the salary always increase rapidly or business, it will keep growing and you can increase your living standard without thinking of reduce your investment.

[Findingnemo]

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?

If I am not wrong one who started to save and invest is only possible by downgrading their current lifestyle to have those bucks.

Over the time if they managed to be profitable and only cash out the money they made can help with better lifestyle because it's just passive income that is added to their existing revenue stream. In reality one who actively focused on investing will choose the simple lifestyle because they consider Warren Buffett as their role model so they just try to replicate his lifestyle which is living outside the main city and doesn't focus on the immediate wants.

[ShowOff]

If you are a poor investor, I would advice that you live a humble lifestyle while focusing on improving your source of income from your investment/savings. The investment has to be profitable, and by profitable I mean it should be used for something very useful(or productive), and should be able to sustain itself from that useful thing, and not at the detriment of those who can't afford it though... Whatever investment or business  you choose to engage in should be affordable to the poor too.

I would live a humble lifestyle regardless of the size of my source of income.. Whatever I own should be necessary and possibly profitable. No luxuries, no unnecessary or expensive things that I can't afford to maintain/use.. If you have money for a car, don't buy it if you can't maintain it. It's better to buy a vehicle for business instead. If you have money for $100 dollar worth of bed/shoes, go for something 10 or 20 times cheaper/comfortable and invest the rest of the money in something profitable

I believe this needs wisdom (and self control) to implement. And they come from our CREATOR

Wisdom is an important point that can separate between wants and needs, and can open eyes to setting realistic living standards. Investment is one way to maintain the value of money, which is likely to provide many benefits. Even though you have a limited income, by setting aside a little of it and then investing, I think this method will slowly lead everyone to live a prosperous life in the future.

It is not wrong to choose to live simply, even though they have reached the point of financial freedom, many rich people choose such a lifestyle for various personal reasons. By having financial awareness, someone can easily adjust their standard of living, learning from other people experiences is sometimes very helpful.

[Smartprofit]

There is even a movement of early retirees called FIRE. These people offer a recipe for achieving personal financial independence.

At the beginning of your career, you need to actively engage in entrepreneurial activity, take more risks, work hard and create new businesses. This is necessary in order to create your initial capital. The initial capital should be used for active investing. The goal of investing is to preserve and increase the initial capital. All this makes it possible to retire early. It is not necessary to retire at 65, you can do it at 35 if you show great diligence.

After that, you will become a free person and will be able to travel, pursue hobbies, have fun, implement your own non-profit and commercial projects, etc.

[coolcoinz]

There's no way to answer this question without knowing what standards you're talking about and how achievable your savings plan is.

I'll give you an example.
Let's say you live in very poor conditions with health hazard. Some old dump building, basement, mice. Of course you're going to want to increase the standard because it could make you sick. Very small claustrophobic apartment is the same, or a small apartment when you're expecting a child. Some space is a must have.

On the other hand, you might be living in your own house with a back yard where you can sunbathe, party with friends, but you could upgrade to an outdoor swimming pool, more prestigious neighborhood.
That's not worth it if you ask me.

[Zlantann]

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?

Standard of living refers to the level of comfort and well-being experienced by an individual, group, or population, typically measured by material wealth, income, and access to resources

https://study.com/academy/lesson/standard-of-living-definition-measurement-quiz.html

You need to be alive and in good health to enjoy the benefits of your savings and investments. Before setting aside an amount to save and invest, it important to have enough to take care of basic needs such as quality food, shelter, clothing, education, health care, etc. I don't think we should compromise our standard of living because we want to save. Rather it will be better to seek other means of income to increase our revenue.

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?

An increase in the standard of living does not necessarily entail spending on luxury or wants. But improving your life quality by providing all you need to live a healthy and comfortable life.

It is also important to note that sometimes one might be forced to make some sacrifice, which includes reducing basic expenses because you want to save and invest. Buying cheaper substitutes could be an example of some steps one could take to reduce costs to increase savings.

[kotajikikox]

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?

People who are saving money in the present would not see the results of their efforts immediately. The thing with saving and investing is you would really have to make use of delayed gratification. There would be a lot of sacrifices especially if you came from a struggling state economically. Would you significantly improve your life by saving? Investing would be a better choice in my opinion. Saving does nothing but prepare you for emergencies or any major life plans i.e buying a house but I believe that investing is the key to really improving your life.

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?

Yes. That is essentially the first step into establishing yourself as financially stable.

[Churchillvv]

I always here people say live before your standard or what you think your worth and then keep the savings and investment going until you can afford the certain stand multiple times then you can improve your standard of living to a new level.

Result of this doesn't come immediately so patience is the only key applicable to reach the desired end. Personally I think as long as your meeting your ends met then it's fine but then some guys have a different opinion about the standard of living, so I will prefer you examine yourself and see what you think is good for you.