The individual life is what I am, what I want to be, what my life goals are, what is the purpose of my life, what are the values I stand for etc., irrespective of my circumstances whatsoever, irrespective of the preferences and opinions of our loved ones, and whoever associated with us etc. These are not basically about the tangible things that we would like to possess.
The collective life is all about my circumstances, loved ones, friends, family, pets, my house etc.
It is easy to define these two things clearly once we are able to realize and segregate these two. Especially you will be able to define your individual life very vividly. You may write down your definition of your individual life, but without paying any attention to your collective life.
eg. When you write down what is the purpose of my life, don't define the answer as giving a good life to my kids. That's vague and it directly combines with your collective life.
Irrespective of where your collective life goes, you should have your individual life always in mind so that you can keep focused on achieving your individual life even when your collective life keeps on changing. Your collective life keeps on changing such as your family preferences, your friends, your location etc.
When you are in confusion and stuck for decisions, you may think about your individual life and then you will be able to take better decisions.
And most importantly in my opinion don't compromise individual life in favour of collective life. Especially because collective life keeps on changing sometimes in your favour and sometimes against.