Let’s make this a bit simpler. Every month we are often bombarded with bills, expenditures, wants, needs, and self-indulgences. At the end of the month, you check your balance sheet, and you find that you just do not have much money at all.
In “The Automatic Millionaire,” David Bach, talks about how people can grow their wealth through automation. If you can set-up automations with your bank account you can then set it up to invest for you.
All of sudden you are saving 10-20% of your take home pay, and the future is looking quite bright. The average American saves between 7-8% of their paycheck. That is terrible. What they do not know is that they will have to work longer in life.
If you wait until you are 40 and decide to start uber saving, it will be a much more difficult process. You can do it, but the time is not there for all of it to grow. Lifestyle changes need to be met.