Risks of Dying Struts/Bearings?

#1
I’m the 2nd owner of a 2002 Toyota Corolla LE, and my mechanic tells me my front struts and wheel bearings are on the way out. I don’t really have the money/inclination to do this work at the moment, but I will if it can have major adverse effects long term (tear up tires, throw off steering, etc.). I don’t feel anything while driving, but the streets are pretty bad around here.
 
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