Hello everyone, I would like to introduce myself and try to briefly explain why after many years I have decided to join the forum and hopefully become a contributing member. I feel my lifestyle and spending habits have long been in alignment with the MMM philosophy although I am not quite an expert yet; still working but getting closer to retirement every day.
Since completing high school 15 years ago, I immediately began working full-time. I started working for a corporation that paid relatively well, at the time about $35k a year plus overtime which at 18-years-old seemed like a fortune. The company also paid for my Bachelor’s degree so I avoided taking on any student loans. I began working and saving with the goal of moving out of the parents’ house which I ultimately did in 2007. In 2008, right before the housing market crashed, I bought my first house (bad timing). In 2010 I decided to cut ties with that property, take a loss, and purchase my second home for a substantial discount. I paid off my mortgage about 3 years ago, and plan to live mortgage free for the rest of my life.
Back in 2007, I bought a 2000 Toyota Camry with 120k miles for $5,500 cash. I drove that car for about 10 years till it accumulated 300K miles. Despite having the income to purchase a new vehicle, I’ve never been able to justify the cost and I have had the same relationship with pretty much every purchase of depreciating items. So, a couple years ago, when it was time for another car, I again bought a Toyota Camry, this time a 1998 with 140k miles. I’m planning on this being my last vehicle purchase. I should note that I grew up working on cars with my dad who taught me everything I needed to know to maintain and fix a car. Thus, I have never needed to rely on a mechanic for repairs or maintenance. Ultimately, I would like to live car free. I have no real desire to own a vehicle and only do so now due to my work commute.
I still work for the same corporation today and over the last 15 years I have consistently been able to save about 50% of my net income on average each year. At 33 years old, I have reached the point recently where I now have enough money saved to retire and maintain the same lifestyle I have now using the 4% rule.
While not a lavish lifestyle by any means, my reason for posting today is to share my story and tell others what it took for me to get here and reaffirm that it is possible with a dedicated effort. I plan to keep working and saving for at least the next couple of years but I have committed to retiring before the age of 40.