Saving half of your income may be more possible than you think. Some regular people have managed to do it, like Grant Sabatier: He went from having almost nothing to setting a goal of retiring early and achieving it within five years.
Here are five tried-and-true strategies from Sabatier and other super-savers who have all, at one point, set aside at least half of their income to reach their financial goals.
Putting your financial plan on autopilot means setting up your savings accounts, retirement funds and debt-repayment plans to automatically draw money from your paycheck or checking account each month so that you never have to make the choice to spend or save those dollars.
It will not only help you build wealth, but it’ll save you time and mental energy, says Reining: “I automated my money years ago and the benefit is, I don’t have to make decisions about where my money should go, how much I should invest, what I can spend, do I have enough savings and so on.”