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This is the conventional "textbook" wisdom. It is obviously desirable, but in real life completely impossible. And the gap between reality and this kind of "on-high" prescription is why so many people/families have no savings and have no real way to get out of their current situation.

It's conventional wisdom in the same way that you're supposed to drink 8 glasses of water and eat 5 servings of vegetables ever day.

The average American doesn't do what is "conventional wisdom".

It's doable if you get 5% annual growth on the balance, and put in 10% of salary. I ignored compounding, and assumed your income was flat.

They don't.

Don't do the mortgage and children.