It's weird that the converse holds as well: I know someone who managed to save up $20K in 2 years on a grad student salary of $30K/year, in the Boston metro area. That's a third of his income on a salary well below the median.
It'd be interesting to see how savings rate correlates with income, both across groups and as one individual's income rises over time. I suspect that you'd find some correlation (though probably not as much as you'd expect) across the whole population, but when tracking an individual, their savings rate probably will remain largely constant whether they're making $30K/year or $300K/year.
It'd be interesting to see how savings rate correlates with income, both across groups and as one individual's income rises over time. I suspect that you'd find some correlation (though probably not as much as you'd expect) across the whole population, but when tracking an individual, their savings rate probably will remain largely constant whether they're making $30K/year or $300K/year.