Building a personal savings was a lot more effective 50 years ago, to the point it actually did something.
With inflation where it is today - where a young person will pay $800/mo. making $75k/year for an apartment and $2800/mo. for the same exact place 10 years later with the same salary through turbulent hiring and layoff conditions - it makes saving an impossibly uphill climb.
Simply, unless your savings is perfectly continuous and outpacing that incredible inflation you are not actually saving - only penny pinching and still ending up behind.
With inflation where it is today - where a young person will pay $800/mo. making $75k/year for an apartment and $2800/mo. for the same exact place 10 years later with the same salary through turbulent hiring and layoff conditions - it makes saving an impossibly uphill climb.
Simply, unless your savings is perfectly continuous and outpacing that incredible inflation you are not actually saving - only penny pinching and still ending up behind.