[eldavido]

I think you're right.

A bit of personal perspective: I'm a 30 year old, I earn well into six figures/yr, but I still live relatively far below my means. Concretely, this has required making some very tangible lifestyle choices that haven't always been pleasant, including living with roommates in a somewhat bad neighborhood, not buying high-end clothes, etc.

The reason I do this, and it's something which somewhat annoys my long-term girlfriend, is that I absolutely refuse to live paycheck-to-paycheck. I've done that for a while after a failed startup, and it's terrible. It takes a huge psychological toll and the idea that you have to stay at a crappy job, and be afraid every day of being fired, is something I'm working very, very hard to avoid.