Post graduate frat boy moved to Hollywood & turned a new leaf

[flipyoot]

I idolize(d) the glitz and glamor of Jordan Belfort played by Leonardo di Caprio. The partying, high-class debauchery, and what not.

...Though it is a movie, I wanted to live that life. After graduating college from an average public university in California (luckily I maintained good grades and was heavily involved), I used my graduation money to travel the world. I came back with a job paying ~50k in San Diego (my hometown).

My introduction may seem unorthodox for MMM, but I promise that the point of this message is to show how I am turning a new leaf- frugality.

I quit my ~50k paying job because I was dissatisfied with the work. Additionally, I was stuck in my hometown and wanted to see more of the world, thus I moved to Los Angeles.

I moved to LA (Hollywood), with the belief that I could continue my fraternal days. I got a job in entertainment as a project manager, also paying ~50k. However, this is barely anything living in LA.

It has been 2 months since I have decided to live frugally and follow MMM.

1) My rent was $1400 for a studio but my friend who recently graduated college is now moving in with me and paying $700 per month.
2) Aside from my 9-6 full time job, I have secured another project management job that allows me to work 20 hours a week, paying $18 a hour... I will be working 60+ hours now
3) I have limited my drinking and entertainment funds
4) I cancelled my gym membership and bought a pull up bar & perfect push up thing... I also run around and hike 2-3 times per day
5) I do not eat out- oatmeal, fruits, eggs, pasta, and chicken cost me $250 per month on groceries
6) I walk to work and sold my car and auto insurance (I put down a refundable 1k for a Tesla 3, but I will see where that goes)
7) I have no debts

If I am mistaken, MMM's purpose is to retire early, which I find admirable; however, I still want to live lavishly (to a lesser degree than Wolf of Wall street of course). Moving to LA has made me realize the opposite of why I initially wanted to come here. I want to save, I want to be rich (both metaphorically and figuratively). I can live frugally, but I also want to play around.

Right now, I am willing to sacrifice 2-3 years of my youth in order to obtain financial comfort.

I work 45-50 hours full time as a PM and hopefully that my income will rise from that.
Also, I started to work 20 hours as a PM in a growing iOS app that is flexible with my schedule.

I have quit the party life for the most part and I need to grow up.
I put money into my roth IRA account and I also use Vanguard as my savings account (I have a firm understanding of the market).


Does anyone see hope in my plan? I am 23 years old now.

[undercover]

Additionally, I was stuck in my hometown and wanted to see more of the world, thus I moved to Los Angeles.

So you moved 2 hours away?

Retiring early (or, at least gaining some financial cushion) is pretty simple: Make the most money possible while spending the least amount possible and invest as soon as possible. You either want it or you don't. And you can have it if you want it enough.

[J Boogie]

I idolize(d) the glitz and glamor of Jordan Belfort played by Leonardo di Caprio. The partying, high-class debauchery, and what not.

...Though it is a movie, I wanted to live that life. After graduating college from an average public university in California (luckily I maintained good grades and was heavily involved), I used my graduation money to travel the world. I came back with a job paying ~50k in San Diego (my hometown).

My introduction may seem unorthodox for MMM, but I promise that the point of this message is to show how I am turning a new leaf- frugality.

I quit my ~50k paying job because I was dissatisfied with the work. Additionally, I was stuck in my hometown and wanted to see more of the world, thus I moved to Los Angeles.

I moved to LA (Hollywood), with the belief that I could continue my fraternal days.

It has been 2 months since I have decided to live frugally and follow MMM.

6) I walk to work and sold my car and auto insurance (I put down a refundable 1k for a Tesla 3, but I will see where that goes)


If I am mistaken, MMM's purpose is to retire early, which I find admirable; however, I still want to live lavishly (to a lesser degree than Wolf of Wall street of course). Moving to LA has made me realize the opposite of why I initially wanted to come here. I want to save, I want to be rich (both metaphorically and figuratively). I can live frugally, but I also want to play around.

Right now, I am willing to sacrifice 2-3 years of my youth in order to obtain financial comfort.

I have quit the party life for the most part and I need to grow up.

I put money into my roth IRA account and I also use Vanguard as my savings account (I have a firm understanding of the market).


Does anyone see hope in my plan? I am 23 years old now.

I see a lot of hope in your plan, as you're young and ambitious without much debt.

You're also learning about yourself and what you want. 

Your comments betray you haven't really experienced enough adult life to know what you really want.  I think you'll find the more years you spend getting into the rhythm of working hard and living simply, the less interest you'll have in eventually living a rock star lifestyle.

But of course at 23 who could know exactly how the coming years will shape them?  I sure didn't.

Take your 1k back from Tesla and invest it or keep it liquid for peace of mind.  If and when you get rich enough to buy a Tesla, there will be a Tesla available for you to buy.

Now that I think about it, you sound like a young Tai Lopez.  You've got dreams of fancy cars in your garage in your Beverly Hills house, but you know what's even better than that? Knowledge. Haha.  I love those stupid youtube ads where he fancies himself a Rhodes scholar with his gigantic collection of random books.

[esq]

You have a great start for a 23 yr old.  It would help if you had numbers written down.  How much do you expect to save per year?  Where will you put your money and how much will it earn conservatively?  How much do you need to have saved up to live the life you want? 

Sacrificing 2-3 years for financial comfort may or may not get you where you want to be without well thought out numbers.

Best of luck to you!

[flipyoot]

Additionally, I was stuck in my hometown and wanted to see more of the world, thus I moved to Los Angeles.

So you moved 2 hours away?

Retiring early (or, at least gaining some financial cushion) is pretty simple: Make the most money possible while spending the least amount possible and invest as soon as possible. You either want it or you don't. And you can have it if you want it enough.

Yeah, I love San Diego, but I knew everything there was in that city. Also, it felt too slow paced and I wanted to try a fast paced city for a bit. My ENTIRE family and most of my friends still live there, thus I didn't want to have that stagnated mindset. Then again, that was before I moved to LA. I love LA and I plan on being here for a couple years; however, moving back to San Diego permanently does not seem farfetched in my future... maybe that is where I will put down a mortgage haha.

I love investing. I started a Vanguard account and have been putting money in ETF's every month ~$700. I use this as my savings account and I have not pulled out of it since.

[flipyoot]

I idolize(d) the glitz and glamor of Jordan Belfort played by Leonardo di Caprio. The partying, high-class debauchery, and what not.

...Though it is a movie, I wanted to live that life. After graduating college from an average public university in California (luckily I maintained good grades and was heavily involved), I used my graduation money to travel the world. I came back with a job paying ~50k in San Diego (my hometown).

My introduction may seem unorthodox for MMM, but I promise that the point of this message is to show how I am turning a new leaf- frugality.

I quit my ~50k paying job because I was dissatisfied with the work. Additionally, I was stuck in my hometown and wanted to see more of the world, thus I moved to Los Angeles.

I moved to LA (Hollywood), with the belief that I could continue my fraternal days.

It has been 2 months since I have decided to live frugally and follow MMM.

6) I walk to work and sold my car and auto insurance (I put down a refundable 1k for a Tesla 3, but I will see where that goes)


If I am mistaken, MMM's purpose is to retire early, which I find admirable; however, I still want to live lavishly (to a lesser degree than Wolf of Wall street of course). Moving to LA has made me realize the opposite of why I initially wanted to come here. I want to save, I want to be rich (both metaphorically and figuratively). I can live frugally, but I also want to play around.

Right now, I am willing to sacrifice 2-3 years of my youth in order to obtain financial comfort.

I have quit the party life for the most part and I need to grow up.

I put money into my roth IRA account and I also use Vanguard as my savings account (I have a firm understanding of the market).


Does anyone see hope in my plan? I am 23 years old now.

I see a lot of hope in your plan, as you're young and ambitious without much debt.

You're also learning about yourself and what you want. 

Your comments betray you haven't really experienced enough adult life to know what you really want.  I think you'll find the more years you spend getting into the rhythm of working hard and living simply, the less interest you'll have in eventually living a rock star lifestyle.

But of course at 23 who could know exactly how the coming years will shape them?  I sure didn't.

Take your 1k back from Tesla and invest it or keep it liquid for peace of mind.  If and when you get rich enough to buy a Tesla, there will be a Tesla available for you to buy.

Now that I think about it, you sound like a young Tai Lopez.  You've got dreams of fancy cars in your garage in your Beverly Hills house, but you know what's even better than that? Knowledge. Haha.  I love those stupid youtube ads where he fancies himself a Rhodes scholar with his gigantic collection of random books.

You read my mind.

I want those nice things but I do not wish to be completely materialistic. Additionally, that 1k that I put to reserve the Tesla was a demand given to me by my dad. He sold the car he gave me for ~15k and said that I should put 1k in the new Tesla 3 in order for me to have the remaining 14k and have a car in a couple years... I do not need one now.

I am young- still figuring things out. But I am glad that MMM offers a place that fosters frugality. It is in my blood to have cool things, but I need to live within my means. I am going to excel in my career and work my tail off while I can. I do not need nice things now and I know that there are more important things.

Thank you!

[flipyoot]

You have a great start for a 23 yr old.  It would help if you had numbers written down.  How much do you expect to save per year?  Where will you put your money and how much will it earn conservatively?  How much do you need to have saved up to live the life you want? 

Sacrificing 2-3 years for financial comfort may or may not get you where you want to be without well thought out numbers.

Best of luck to you!

Thank you for the kind remarks.

I expect to save 12k this year and increase it as my career moves forward. The money will be invested in a vanguard ETF account (plus my roth IRA).

The live I want is simple. Happiness in my career, good relationships with friends, and stability for my future. I love traveling and want to continue that (I have been to 5/7 continents).

This may be far out, but I currently have 70k, which I am constantly adding to in order to put a downpayment on a house before I turn 30. I wish to stay in So Cal forever and I know that I cannot live anywhere else.

[J Boogie]

It is in my blood to have cool things, but I need to live within my means.

I can relate.  I'm a very visual person.  I think the best cure for this is to become a maker of said cool things.

These days I build furniture, and it is in my blood to build cool furniture.  Somewhat off topic, but I love the lasting nature of furniture.   Your work remains relevant and valued for decades and decades if you do it right.

The only problem is that tools/equipment can get expensive.  I try to buy tools using only woodworking profits.