In today’s time, where people start spending money on expensive cars, luxurious houses and luxury lifestyle as soon as they get a big salary, a young engineer working in Meta has surprised everyone with his thinking. 24 year old Raymond Zeng earns around Rs 3 crore annually, but his life is very ordinary. He neither has a car, nor a TV, nor has he bought a house. His big goal behind this is to retire before the age of 30.
Raymond Zeng lives in the San Francisco Bay Area of America. He told that even after deducting tax and retirement fund, his good income remains. They save lakhs of rupees every month and invest them. Their income increases further with the help of bonus and company shares. In a few months their savings reach Rs 15 to 19 lakh.
Why don’t you buy luxury goods?
Raymond says that his simple life is not a compulsion but a conscious decision. They believe that excess stuff does not make life better. According to them, they like to spend their money on things that will yield benefits in the long run, like investments, travel and their favorite hobbies. He said that he does not want to spend just for show. This is the reason why he has kept distance from things like car, expensive furniture and TV.
Aim to retire at the age of 30
Raymond follows the Financial Independence, Retire Early model. This means accumulating so much money at an early age that there is no need for a job. For this, they invest a large part of their earnings in the stock market and retirement funds. He claims that if everything goes according to plan, he can have an investment of around Rs 19 crore by the age of 30. By the age of 40, this amount can reach more than Rs 60 crore.
Keep track of every expense
Raymond keeps a close eye on his expenses. For this, he himself has prepared a spreadsheet, in which he keeps a record of every month’s earnings and expenses. They do not use any ready-made app or template, but keep updating their files as per the need.
SK Sharma is a content writer who writes on news, entertainment, and lifestyle topics. She has over four years of experience and is known for conveying information in simple and clear language.
