Quote:
Originally Posted by GGG
I think the key is never having the money. People have no problem saving to cover their CPP payments adding an additional 10% to that number as long as you don’t adapt to having more. Did I follow my own advice though? Nope, I was pretty terrible with money until I was 30. Would I have had just as much fun if I had saved more? Absolutely, the amount of waste in that money being spent was high.
I do agree with Cliff that telling people to save is like telling them to diet.
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Agreed - this is the key. If the money never comes into your bank account and is automatically diverted elsewhere, then it's very easy to live of 90% of your paycheck. Literally the best retirement planning I've done to date is ensuring I get 10% diverted from the paychecks automatically at every job I've had. I've literally never been paid 100% of my salary.