This Trend Is Quietly Derailing Your Retirement
If you feel like you can't get ahead in life, you're not alone. According to data from the Bureau of Labor Statistics, making more money generally translates to spending more money. That's called lifestyle creep, and it's public enemy No. 1 with respect to retirement savings.
Lifestyle creep, also known as lifestyle inflation, is the natural tendency to increase your living expenses in lockstep with your income. You get a big promotion, and you respond by upgrading your home or car. Those decisions, made to improve your quality of life, are not automatically bad financial moves. Especially early in your career, you'll appreciate outgrowing a cramped studio apartment and the ramen noodle dinners that go with it.
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Source Fool.com
