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Much easier said than done, especially when you have children.
by cookiecaper 11y ago
Much easier said than done, especially when you have children.
- ryandrake 11y agoOr student loans, or alimony obligations, or sick parents to house and take care of, or any number of legitimate reasons why normal people don't tend to save 50% of their income. My guess is the "ISO Standard Ideal Saver" whose entire income is disposable, has perfect health, no dependents, no hobbies, no debt or other obligations, etc. is the exception, not the rule.
- kdamken 11y agoObviously you may not always be in a position to follow this exactly, but regardless of who you are it's a solid plan to aspire to. Even if you can only save $100 a month. Or if you can avoid using a credit card to buy things you don't really need, like a new tv to replace your old one that works fine. The average person who is not currently dealing with a significant life crisis could follow some of this, but often chooses not to, either due to not knowing any better or lack of self control.