Consider keeping your disposable cash in an inconvenient account that is not accessible via automatic teller machines. Shop with lists. Buy the legitimate things and apply the 24-Hour Rule to items on your wish list. Avoid the Mall. They go for a walk, call a friend, or rent a video.
Time marches on and so do our tax bills.
This is more time than the average person will work to pay for housing, food, and clothing combined. As a retirement plan saver, you are beating the clock on taxes while building for future retirement income. Through your pre-tax plan contributions. Every time you put money into your plan it comes out of your paycheck before taxes are deducted, which means less taxes on your pay. In addition, any earnings that accumulate on your plan savings are tax-deferred, which means they are not taxed until withdrawal, usually when you retire.