To really understand the situation start running the numbers of late life salary bumps.
It is difficult to balance lifestyle, income, and savings as you start to ramp up your salary AND your lifestyle. If your salary doubles between 20 and 30 and then again between 30 and 40 your savings does not change. So even if your saving 20% of your income every year you are not going to be able to safely retire at 80% of what you make at 40. Unless, you get a salary bump and don't increase your lifestyle.
Take it further; someone that sees a 3x gains from 30 is going to need to save ~40% a year to avoid a lifestyle drop. Meanwhile your friends are all raping up their spending and possible over extending.
It is difficult to balance lifestyle, income, and savings as you start to ramp up your salary AND your lifestyle. If your salary doubles between 20 and 30 and then again between 30 and 40 your savings does not change. So even if your saving 20% of your income every year you are not going to be able to safely retire at 80% of what you make at 40. Unless, you get a salary bump and don't increase your lifestyle.
Take it further; someone that sees a 3x gains from 30 is going to need to save ~40% a year to avoid a lifestyle drop. Meanwhile your friends are all raping up their spending and possible over extending.