'No Car, No TV, No House': Meta Techie Earning Rs 3 Crore Shares Early Retirement Strategy

A software engineer working at Meta and earning $306,500 (Rs 3 crore) a year has revealed that he leads an 'intentional' lifestyle that includes not owning a house, car and TV. In a conversation with Business Insider, Raymond Zeng, 24, said he moved to the San Francisco Bay Area around eight months ago, having previously lived in Dallas, Texas, for two years. Despite the move, Zeng is content with his living situation, opting to save and invest a large portion of his earnings.

Zeng said he earns approximately Rs 7.6 lakh per month, with bonuses and stock, making up around 60 per cent of his total compensation. His total take-home compensation was Rs 4 lakh after taxes and retirement contributions. Meanwhile, his savings can range from Rs 5 lakh to Rs 19 lakh monthly, depending on stock vesting and bonuses.

 "I've been told by many of my friends that my living situation is very 'Spartan'. I don't own a car, couch, or even a TV," Zeng said, adding: "For me, that lifestyle is intentional. I could afford more furniture if I wanted it, or expand my lifestyle to be more spend."

"Right now, I'd rather prioritise investing, travel, and hobbies over filling my apartment with things I don't use very much or experiences that don't lead me to a fulfilling life. For me, that lifestyle is intentional."

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Zeng highlighted that he wanted to retire by 30, which meant investig aggressively and maxing out his retirement accounts while allocating additional savings to a brokerage portfolio. Zeng said he tracks every detail of his spending minutely using a spreadsheet that he designed himself.

"Every month, I create a new version of a budgeting spreadsheet that I designed myself. I don't use a template because I prefer a DIY system where I can add or remove categories depending on what I need to track."

As per Zeng, he could have more than Rs 19 crore invested by age 30, which could grow to Rs 67 crore by the time he is 40. if everything goes to plan.

"One of the biggest ideas I've taken from the FIRE community is to build the life you want and then save for it. However, I'm flexible, if my circumstances change, then so will my retirement plans," said Zeng.