There’s something about having $1,000,000 that garners people’s attention – like a magnet, that big round number can’t help but attract your eyes. It’s a number that people associate with having wealth.  Something about turning 6 digits in an account into 7 captivates the American population; it’s a far away goal that is just close enough that many people inadvertently strive to reach that number.

Which makes sense, being a millionaire is actually quite a common occurrence. About 11 million Americans are considered millionaires, sounds crazy high right? Well, compared to the population of the US (325 million) that’s about 3.4% of the American population that are millionaires. In some areas it’s even more extreme, 13% of New York City’s population are millionaires, the highest concentration of what is labeled as “High Net Worth” individuals in the world.

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To be honest, it’s hard to encourage someone to save for retirement, especially for people my age. I’m 23, retirement is such a far off goal that I understand why many people my age don’t even have this anywhere near their radar. Why would I save a $100 this week for something that may or may not happen 30+ years from now? I could use the very same $100 on things I want to do right now.

For many people, saving money is hard. We’re tempted by so many things and the fear of missing out (FOMO) on experiences today is hard. I open Instagram and I see all my friends doing all these fun things, how could I not want to be part of that. So let’s try to explain the way our brain thinks.

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