How 'super savers' do better than most at setting money aside for retirement
Telling friends/family no to common expensesThe report was based on a survey of about 1,700 individuals ages 20 to 54 who are viewed as super savers due to high contributions to their retirement plan at Principal. Most of them contributed at least $17,100 in 2019 and the remainder had a deferral rate of 15% or more.
Generally speaking, these super savers forgo some of life's luxuries, which may be an example to others who want to save more for their golden years. While some households have little to no wiggle room in their budget to save — especially if they've experienced income loss during theAdditionally, everyone's goals are different and some of the sacrifices made by super savers may be unacceptable to others.
Regardless of your goals, they typically require some give-and-take in your budget if you want to reach them, Workman said.
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