The phrase “you only live once” is often used to justify impulsive choices. But it should be inverted: you only live once—so don’t take a risk that could make your remaining years more difficult.

Big decisions, in particular, must be made with careful forethought. Because big decisions are, by definition, decisions that bear large consequences.

Conduct your personal affairs the way you would build a business for the long run. Have a time horizon that aligns with your expected remaining lifespan. Make all important decisions with that time frame in mind.

Give future you fewer regrets.