anchor: If you enjoy contemplating your own future extravagance (as opposed to frugality) then Krusell/Smith reasoning suggests something even more  The more you expect to be extravagant in the future, the more you'll save to finance that future extravagance.
positive: The more extravagant you expect your future life to be, the more you will save for it.
negative: If you want an extravagant future, you will not save for it.