How to save $1 million without trying

By Arielle O’Shea

It’s no secret that Americans need to save more. The issue — at least in part — is that saving requires sacrificing some of today’s wants in favor of tomorrow’s needs.
A recent analysis by NerdWallet shows an alternative approach: saving future income. According to the research, a 25-year-old earning $45,000 could accumulate nearly $1 million by investing modest raises and bonuses over the course of her career.
That’s either a retirement nest egg or a very healthy start to one, depending on your lifestyle.
Avoid lifestyle creep
When you start making more money, you’re likely to start spending more, using the extra income to eat out twice a week instead of once, for example, or to trade up to a new car.
After a while, it’s hard to remember a time when you drove a clunker or cooked for yourself on a Saturday night. As each raise continues to build on the next, you become accustomed to an increasingly higher standard of living.
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