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.
Some people, like those in the YOLO (you only live once) crowd, take that as a good reason or excuse to spend freely while putting little thought into what tomorrow will bring.
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.
How do reconcile these two disparate approaches?
I personally challenge high-income professionals to live on half of their takehome pay, a feat that is incongruent with the live like there’s no tomorrow mindset.
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.
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.