A recent reader question I answered brought a small avalanche of mail, mostly from readers who were aghast that I would suggest they save such a significant portion of their paychecks for retirement. It was money they just didn't think they could afford to save. Here's just one of those messages:

Dear Mary: I am a 34-year-old college grad. My school debt is approximately $46,000. My car loan totals $8,500. I have a chronic medical condition that costs me thousands each year. I was reading an article in which you told a reader that she needed to save approximately $15,500 a year plus save an additional 10 percent of her net income in her contingency fund. I am barely making it right now, though I work full time as a teacher and make approximately $65,000 dollars a year. What do you suggest I do to start being able to save that much? -- Heather, e-mail

Dear Heather: I recall the article to which you refer. Reader B.H., as she identified herself, is a recently single mother with two college-age kids -- barely surviving because she is putting the financial support of her two adult children ahead of her own financial care. I recommended that she immediately shift to taking care of her own financial future now that her children are old enough to be on their own.

I went on to tell B.H.: "You need to make sure that you are contributing the maximum of $15,500 each year into your employer's 401(k) or 403(b) retirement plan. Once you reach age 50, you can increase that to $20,500 per year, and you should." Of course, she is not required to contribute any amount to her employer's retirement plan, and she can contribute any amount up to $15,500 per year. But at this point in her life, it is important that she begin crash saving and reach that maximum.

You may believe that you cannot save because your debts are high or that, despite the fact that you make a very nice income, you just do not make enough money to save anything at all. Wrong. How much you save has little to do with your income.

In 2000, Steven F. Venti and David A. Wise, research economists, wrote an important study, "Choice, Chance, and Wealth Dispersion at Retirement," in the National Bureau of Economic Research. For this, they studied people with very low incomes who easily out-saved middle-income earners -- and by huge amounts. They studied people with vast incomes who didn't save a dime. What was the difference? "People with little savings on the eve of retirement have simply chosen to save less and spend more over their lifetimes."

Even with your large student debt and car loan, at $65,000 a year, there is no doubt that you have some discretionary income. It all comes down to what you choose to do with that money. You can choose to spend it now, or you can choose to save. If all you can save is 5 percent, do it. Start now.

The sooner you start the more time your dollars will have to grow. And for my readers who only wish they'd started when they were 34 years old, I will tell them that it's only too late if they don't start now!

Mary Hunt is the founder of DebtProofLiving.com and author of 17 books, including "Debt-Proof Living." You can e-mail her at mary@everydaycheapskate.com, or write to Everyday Cheapskate, P.O. Box 2135, Paramount, CA 90723. To find out more about Mary Hunt and read her past columns, please visit the Creators Syndicate Web page at www.creators.com.
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