Self identification as one of the elect; in opposition to the Catholic / Christian beliefs empowers one to basically consider anything possible. Including permanent salvation.
It doesn’t matter that it makes Biblical sense, all that matters is that a twisted interpretation of relatively recent pronouncement can theoretically be justified. The Church Fathers are swept away. The writings of the first Popes are dismissed. We have a romantically inspired vision of the early Christians which happily coincides with whichever denomination of Protestantism that one happens to belong to.
Therefore I’m right and all those thousands of other Protestants, however well meaning, are wrong. Saint Calvin (Peace Be Upon Him) has much to answer for.
Well, I can understand that they consider themselves "elect". The problem is the incorrect useage of the term to mean "saved for eternal glory". That is not what "elect" means. It means being called to repentance and accepting Christ as our Savior, being called into the People of God and being baptized by water and the Spirit. In that, they may very well be "elect", although in a remote way (as Vatican 2 Lumen Gentium describes our separated brothers, they are part of the Church through a valid baptism and belief in Christ - which goes back to St. Cyprian's time!).
But NONE of that means they will receive eternal glory after the final resurrection - which is their error. It is presumption. While we can have "subjective assurance", that is not a guarantee from God. Many will say "Lord, Lord", and He will say "I never knew you". This is not going to be said to pagans, but to presumptive Christians!
Paul said be careful so that "you" do not falter. Immediately before this (1 Cor 10), Paul talked about many members of the Church, the elect, who had indeed been saved and then fell. We must always be on guard, because satan is prowling like a lion looking for someone to falter, such as the pervert in 1 Cor 5.
Take care, brother