I think I’ve told this story before, but I started my first full-time office job eager to save money. I was going to live below my means! I was going to build my emergency fund! I was going to contribute to my retirement accounts and get the company match!
Then I started doing the math.
Even if I saved 20 percent of my pretax income for retirement—which seemed like a phenomenal amount—it would take me five years of working to save up one year’s worth of income.