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 automan
blasted chipmunk
Registered: 09/18/03
Posts: 4,390
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 the odd life
#8141641 - 03/13/08 02:09 PM (6 months, 25 days ago) |
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In my 3 decades on this planet, I have done something that makes me strange. I have lived without debt. I have never paid interest on anything. It hasnt been easy. I know more ways to cook a potato than any person should ever have to learn. I have also never made more than $25,000 a year. Yesterday, I was offered a new job that will take my income from the low 20's to the mid 50's. I am ecstatic. We have a new baby on the way to bring our family up to 4. This is the best life has ever been. My wife and I have set a goal of increasing our standard of living to $30,000/yr and save $20,000 per year. Starting in three years, we will have the option to move back to the south (the new job requires moving my family 1100 miles to New England.)
So the plan is to save this money for the next 10 years and at the age of 40, purchase a house on the Gulf Coast for cash. Then, we can live very comfortably on $18,000/yr (we wont have to pay for shelter anymore) and save for an early retirement in a great area. Hopefully around age 50, I can go to a part time work schedule basically just doing my job because I love it, not for necessity.
So my goal is to live a life debt free. Let's see how it pans out.
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wiccan you need a big glass of shut the fuck up ~ Stein
No, no, you're not thinking, you're just being logical. ~ Niels Bohr
I wish my lawn was emo, cuz then it would cut itself ~ paraphrased by coda
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 geokills
······· º¿°·······
Registered: 05/08/01
Posts: 13,286
Loc: city of angels
Last seen: 5 hours, 24 minutes
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 Re: the odd life [Re: automan]
#8141671 - 03/13/08 02:22 PM (6 months, 25 days ago) |
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Congratulations auto... I came to the races a few years later than you, but I'm also one of the only people I know who has lived a life free from debt. If I ever didn't have money to do something, I simply didn't do it. It seemed so basic to live within my means, until I grew up a little more and had to listen to my friends lament about their many thousands of dollars of debt, much of it spent on short-term intrigues with no lasting tangible value save for the memory. It just doesn't make sense to me, to spend more than I have. That money isn't going to fall from the sky, and I surely don't want to make my life harder as I get older, I want it to get easier!
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┼ ··∙ long live the shroomery ∙·· ┼
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norml840
freak of nature
Registered: 10/19/07
Posts: 1,380
Loc: lost
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Re: the odd life [Re: geokills]
#8141697 - 03/13/08 02:30 PM (6 months, 25 days ago) |
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good job dude. Dave Ramsey would be proud.....and frankly, so should you.
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automan
blasted chipmunk
Registered: 09/18/03
Posts: 4,390
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Re: the odd life [Re: geokills]
#8141808 - 03/13/08 03:15 PM (6 months, 25 days ago) |
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according to my math, if i can save $700 per month and additionally put $4000 in the roth (me and wife) then we should be millionaires at age 54... and 54 sounds younger every year, heh. that counts house equity which should be around a quarter of that.
ps: this is all in today's numbers. no inflation is taken into account but all taxes have been.
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wiccan you need a big glass of shut the fuck up ~ Stein
No, no, you're not thinking, you're just being logical. ~ Niels Bohr
I wish my lawn was emo, cuz then it would cut itself ~ paraphrased by coda
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GnosticWarrior
Hermit
Registered: 03/11/07
Posts: 194
Loc: Oahu, Hawaii
Last seen: 12 hours, 10 minutes
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Re: the odd life [Re: automan]
#8142649 - 03/13/08 06:16 PM (6 months, 25 days ago) |
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Good job on your hardwork and discipline!!!
I actually think living within ones means is supposed to be natural. Watching animals in nature, they tend to conserve their energy and resources, and only expend them when necessary.
You got the right way of thinking. Most people want to leverage their higher salary to buy more stuff but still be in debt. Americans, have developed alot of artifical needs and life becomes more complicated.
It's good to know that America still has some people with a decent operating system.
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