If anything is certain, it’s that the future is uncertain. It’s unknowable, and unless you have a heavily modified Delorean with a functioning flux capacitor, the future will always be unknowable.
Others feel that a future that could bring all sorts of unforeseen changes is a great reason to save now. It’s best to be prepared for the many surprises that life will undoubtedly bring.
Tim McGraw is always telling people to live like they’re dying. I get the mentality. You’re only young once.
This puts one on a hedonic treadmill that can be very difficult to escape. Maybe it’s better to live like we’re living and not like we’re dying, after all.
The better you are at earning and saving, the more quickly you’ll reach your financial goals. Then, after years of thoughtful thrift, you can consider spending a bit more on yourself.
Living with an unhealthy fear of what next year could bring can absolutely help boost your savings rate and lead you to financial independence sooner.
Live and save as though a long life is the most likely outcome, because it is. Keep in mind, though, that if you’re miserable in the present, something’s got to change.