4 ms·

Did you set out with the goal of early retirement? Or were you just relatively frugal, and at some point realized it was possible? It seems like you owned a hou

by fhood 9y ago

Did you set out with the goal of early retirement? Or were you just relatively frugal, and at some point realized it was possible? It seems like you owned a house at age 24 which is pretty unusual.

satysin 9y ago
Not at all. Never even thought about it, it was just a realisation one day when I sat down and went over all my finances. My full story is quite, interesting, I guess is the right word :) Two weeks before I turned eighteen I became a dad (the mother who became my now-ex-wife). That made me grow up fast. I got a job and worked my ass off to impress and get promotions. We got married at 21 and bought a house as we had a decent-ish joint income and had some savings behind us (plus some family help on the deposit). We bought a little 2 bed house in Hertfordshire for £116k. We separated at 24 and sold the house literally 2 months before the 08 crash. I am not what most would consider frugal though. I still buy things, I just bought a new laptop, phone, I have a nice TV, PS4, etc. I just don't have any expensive hobbies. I don't spend crazy amounts of designer clothes. I run rather than pay for the gym, etc. I also buy things out-right (such as my phone) rather than get an expensive monthly contract. Doing so saves way more than most people realise. So I wouldn't say frugal but I am very aware of what I buy and try to be as sensible as possible with money.
swarnie_ 9y ago
Getting into the housing market a few years before the 08 crash and joining the workforce during the crash produce extremely different results. The envy i have for people 5 years older then me are difficult to explain away sometimes.
- satysin 9y ago
  There are always tradeoffs though. I know many people who got in around the same time as me, did well and had great high paying jobs, a lovely house, car, etc. Then the crash hit, they lost their jobs and couldn't find a new one that paid the same, had cars reposed, etc. Many quickly realised they had committed themselves to way more than they should have. Had the sell the house, etc. Not fun times for everyone.

by fhood 9y ago

Did you set out with the goal of early retirement? Or were you just relatively frugal, and at some point realized it was possible? It seems like you owned a house at age 24 which is pretty unusual.

satysin 9y ago

Not at all. Never even thought about it, it was just a realisation one day when I sat down and went over all my finances. My full story is quite, interesting, I guess is the right word :) Two weeks before I turned eighteen I became a dad (the mother who became my now-ex-wife). That made me grow up fast. I got a job and worked my ass off to impress and get promotions. We got married at 21 and bought a house as we had a decent-ish joint income and had some savings behind us (plus some family help on the deposit). We bought a little 2 bed house in Hertfordshire for £116k. We separated at 24 and sold the house literally 2 months before the 08 crash. I am not what most would consider frugal though. I still buy things, I just bought a new laptop, phone, I have a nice TV, PS4, etc. I just don't have any expensive hobbies. I don't spend crazy amounts of designer clothes. I run rather than pay for the gym, etc. I also buy things out-right (such as my phone) rather than get an expensive monthly contract. Doing so saves way more than most people realise. So I wouldn't say frugal but I am very aware of what I buy and try to be as sensible as possible with money.

swarnie_ 9y ago

Getting into the housing market a few years before the 08 crash and joining the workforce during the crash produce extremely different results. The envy i have for people 5 years older then me are difficult to explain away sometimes.

satysin 9y ago
There are always tradeoffs though. I know many people who got in around the same time as me, did well and had great high paying jobs, a lovely house, car, etc. Then the crash hit, they lost their jobs and couldn't find a new one that paid the same, had cars reposed, etc. Many quickly realised they had committed themselves to way more than they should have. Had the sell the house, etc. Not fun times for everyone.