Should we live like there's no tomorrow?

No The philosophy of "its better to burn out than to fade away" is part of the decadent distant past.
Now we're supposed wear our masks & not party together or smoke & drink or do anything we might enjoy .
If we do everything exactly the way we're ordered to  by Nasty Pelosi & Ocrazio Cotex they will outlaw natural death & we can keep voting them back into office FOREVER.

Carpe Diem   seize the day

you should also prepare for an emergency too

No. That's being irresponsible.