Dodged a BMW sized bullet

[myDogIsFI]

Hi Everyone.  This is my first post here, and I am ready to get on the MMM bandwagon.

I graduated law school in 2009, and thankfully managed to keep a pretty frugal lifestyle when many of my peers were ramping up spending.  But after I paid off my student loans, saved up for a down payment on my house, and saved up for my upcoming wedding, I started thinking... ok, NOW I can spend all of my money.

A friend of mine was encouraging me to get a BMW.  I almost did it.  Then I found MMM through the Washington Post article and it hit me like a ton of bricks--I would trade a stupid car for an earlier retirement any day.  I was in the mindset, like so many others, that of course I would slave away in my office until age 65, so I might as well spend the money.

No more!  Instead of buying a BMW, I sold my old car.  I'm now biking to work and sharing my fiancee's car, and I'm opening an account at Vanguard.

I like my job but the hours are brutal.  My goal is to stash some serious cash before moving to some kind of part-time arrangement.  I plan on having kids and I want to spend time with them.

Thanks to MMM for the wake-up call.

[jdoolin]

Nicely done!  Glad you found the site in time.  I didn't, though my bullet was only the size of an '09 Subaru Legacy. 

[Theadyn]

Awesome!

[Jon_Snow]

I have been experiencing car based weakness of late. Actually went to a couple of dealerships and looked at a 100k Audi, and a 70k 600+ horsepower Ford Mustang.

Thankfully the madness has since passed. But were they ever sexy. ;)

[jamccain]

Lots of folks showing up from that Wash Post article...I barely beat the heard I guess.

Thanks for sharing, your strength gives us all strength. 

[chesebert]

I have been experiencing car based weakness of late. Actually went to a couple of dealerships and looked at a 100k Audi, and a 70k 600+ horsepower Ford Mustang.

Thankfully the madness has since passed. But were they ever sexy. ;)

Are Audis running for 100k these days? I don't remember spending anywhere close to that for mine during my anti-mustachian days. I no longer own a car today.

To Op, I have a goal/challenge for you - become FI before you are up for partnership (4 years time, based on your graduation year).

[stevesteve]

I like my job but the hours are brutal.  My goal is to stash some serious cash before moving to some kind of part-time arrangement.  I plan on having kids and I want to spend time with them.

Glad you made the decision!  That is exactly the reason I'm doing this.  I have no real need/want to retire at 35 (I chose a field I really like) but I do want to be able to able to negotiate about my job from a position where I don't rely on it.  Being able to do that is a great since I'm pretty sure any 9-5 job is tedious from time to time if you can't make there be flexibility in it.

[myDogIsFI]

Re: becoming FI before going up for partnership.  Thanks for the challenge :)

My short term goals are to cut back on eating out, start cooking more often, and to start doing home projects myself (e.g., cleaning and repair projects). 

I also want to reduce my travel budget.  I've gone too far on the idea that buying experiences, instead of consumer goods, can buy me happiness. 

[nktokyo]

I want to encourage you man. I became FI at 30 and spending 2-3 days a week with my baby son has been worth all the sacrifices.

I worked in finance and IT and I was saving 60-70% of my salary. It was a grind but again, punching your exit ticket 30 years early is worth a little bit of effort now.