1. live on the edge - Verb
2. live on the edge - Phrase
(idiomatic) To have an adventurous or perilous lifestyle; to behave in a manner which creates risks for oneself.
(idiomatic) To be caught in an economic or societal situation which one did not choose, which threatens one's well-being or life, and which causes distress.
Source: en.wiktionary.orgIf you want to live on the edge of life, you need to be flexible. Kim Novak
Finnish companies tend to be very traditional, not taking many risks. Silicon Valley is completely different: people here really live on the edge. Linus Torvalds
It's not like Alaska isn't wilderness - it mostly is. But most Alaskans don't live in the wild. They live on the edge of the wild in towns with schools and cable TV and stores and dentists and roller rinks sometimes. It's just like anyplace else, only with mountains and moose. Tom Bodett
We live at the edge of the world, so we live on the edge. Kiwis will always sacrifice money and security for adventure and challenge. Lucy Lawless