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Blog posted On August 30, 2018
Collectively, Americans are struggling to set aside money for retirement: 21 percent have nothing saved at all for their golden years.
One Minneapolis-based millennial, who goes by the pseudonym Sean, is doing far better than average: The 28-year-old had managed to sock away $256,444 as of July 2018, he reports on his blog, and expects to have enough in the bank to retire comfortably by age 37.
CNBC Make It asked Sean, who sets aside more than 60 percent of his $80,000 salary, for his top money-saving tip. Besides tracking his spending, which he says is the most effective first step for anyone looking to take control of their finances, saving money boils down to a mindset shift: "Rid yourself from this idea that what everyone else does is what you also need to be doing."
