Yes, we know. Easier said than done, right? But hear us out on this one. If you don't want to be responsible for homes that other people are living in, maybe you'd be more interested in generating a huge cash lump sum. What's your earning potential in your current job? Is there any prospect of promotion? Speak to your boss and find out what your future looks like. Go for any promotion that will make you more money, but keep living exactly as you are now. Bank all the money that comes from rises on salary.
When we say 'bank', we mean invest. A 25-year-old saving $450 per month in a tax-deferred account with compound interest, traded on the stock market, will be a millionaire by the age of 60, assuming annual investment returns are around eight percent. You might have had to scrimp and save all the way through your working life, but you can retire in style.