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It means that it's not a good idea to plan too far ahead or worry about things that haven't happened yet. Some people are so worried about what MIGHT happen that they don't enjoy their life. So this expression means to appreciate and focus upon the present, and not spend too much time worrying about the future. It is, of course, a good idea to plan for the future, but it is not useful to avoid taking any chances at all for fear that something could go wrong.

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