Saving is the primary way to fund long-term priorities
In the ROL process the goal is to fund long-term priorities through saving where your return on investment (ROI) is important but not as important as the act of saving itself.
In investing the classic trade-off is between risk and reward. It is impossible to consistently buy high-quality investments at low prices. We can’t expect that the yield on high-quality investments will be equal to the yield on high-risk, low-quality investments. We accept safety in exchange for reduction in yield or, to receive a potentially high rate of return, you must be willing to put up with greater market volatility.
For those near or in retirement, a long-term perspective continues to be helpful. For a married couple, there's a 72% chance that one of them will live to age 85 and a 45% chance that one will live to age 90. There's even an 18% chance that one of them will live to age 95.* From an investment perspective we generally plan for a retirement lasting as long as 30 years.
The principle is simply: Spend less than you make, save and invest the difference over a long period of time according to your specific risk tolerance.