"Don't increase your living standards too often and too young"

Why?

▶️ Usually if you increase your living standards, you don't want to go back. But increased living standards have increased costs, so you force yourself to have jobs that pay above a certain amount. This reduces your flexibility. Also more savings are needed when you have no job.

▶️ If you are young, odds are that you can bear more nomadic environment/living standards, then you will at older ages. So better to use this flexibility now. You can do it smart! 😉

▶️ Increased living standards, mean increased costs, which mean you will have to have more investments to sustain your life without working.

▶️ As it is hard to go back to lower living standards, it might make sense to evaluate if you really need that upgrade you plan to have.

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