"I thought, 'Oh, this is just how all work is,'" said Merz — and it wasn't for her.
Like many super savers Insider has spoken to, Merz focused on lowering three main expenses: housing, transportation, and food.
Merz, a "recovering super saver," used to save up to 78% of her income.
Merz currently contributes 10% of her income to her 401k, "and that's about as much saving as I do," she said.
A 10% savings rate will still allow her to retire in her mid-50s, she said, since she has such a big head start on savings.
Persons:
Gwendolyn Merz's, Merz —, wasn't, Merz, Gwendolyn Merz Merz, maxing, Roth, Gwendolyn Merz, I'm, she'd, I've, St . Louis, She's
Organizations:
Independence, CSA, Roth IRA, Washington DC
Locations:
Illinois, Pontiac, Midwest, Washington, St ., —