The lesson here, according to Maggiulli, is that you should save what you can, when you can . Relying on a fixed, prescribed savings rate is nonsense.
For starters, poorer people have much less room to save. If your entire income goes to rent and food, “just take away 10% won’t help.” But even richer folks find their income varying drastically over time. Personally, my income in 2020 was twice as high as in 2021. I couldn’t possibly have saved the same amount in both years.
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