“By slowly increasing your monthly contributions, even by a few dollars each month, this will then ease the stress of having less take-home pay,” said Leslie Tayne, a debt attorney in Long Island, N.Y., and author of “Life & Debt.”
It’s important that individuals in this age bracket resist the urge to increase their spending as their income rises.
“One of the best tips to becoming a millionaire is to live within your means and stop living like a millionaire,” Smith said. “Those more likely to be millionaires frequently are common, everyday Americans ranging from plumbers, construction workers and schoolteachers to laborers, salespeople and middle managers who developed sound financial habits early and put investment monies aside on a regular basis, while keeping expenditures in check.”
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