[barik]

The important part is that if you really set your contributions to 65% then you will max out your annual retirement contribution limits early on (front loading). So the rest of the year you will receive your full paycheck (- ESPP, which you'll also get back every quarter).

So the situation is not as dire as it appears.

[hyperrail]

I see. It is not clear from reading those top bullet points alone that you are not suggesting I follow the "save as much as possible" strategy the whole calendar year, but only until I reach the 401(k) limit. There is also a bullet point "only invest in tax-sheltered accounts", but I could also save money in a bank savings account, which I would consider a taxable non-"investment" account.