Life is a continuous series of trade-offs between options and alternatives.

At a minimum, each decision we make, is an either/or situation. We decide to get up, or stay in bed. We decide to go to work, stay home, or go somewhere else. We decide to save for retirement, or we don’t. Of course, life is not that simple. Many decisions affect other decisions in a cascading way.

However, there is no reason to complicate life more than necessary.

What are some of the major trade-offs in life?

• Many trade-offs concern the choice between immediate gratification or delayed gratification. Do we want it now? Are we willing to wait in hopes of a bigger payoff or more security or accomplishment later?

Statistics show a direct correlation between level of education and lifetime earnings. For most of us, more school equals more income and better health. Maintaining our ideal bodyweight, exercising regularly, saving and investing, are all examples in the now or later gratification group.

Maintain your ideal bodyweight and exercise regularly and you increase your chances for a longer, healthier life. Increase your savings rate and improve your investment skills and you improve your financial security.

• Career and relationship choices are critical. Do we work for someone or do we become entrepreneurs? Do we get married or do we remain single? If we marry, do we have children or not? These trade-offs impact us on several levels. They can bring us monetary success or potential ruin. They can reward us emotionally or depress us. They can give us a feeling of accomplishment or failure.

• Basic belief systems set our foundational moral and ethical codes. There are many philosophical, religious or spiritual systems to consider. No one I know makes the correct choice with every decision or trade-off. However, they do know how to recognize when they have made a mistake. And, they know how to correct or reverse the situation.

The path we take, the experiences we have, and our feelings of success and happiness will often depend on the trade-offs we make. Repeat the trade-offs that work for you. Stop making trade-offs that cause you pain or disappointment.

Tim O’Brien writes continuing-education courses and presents seminars on stress management.