A 24-year-old software engineer working at Meta has shared that he lives a very simple life despite earning more than Rs 3 crore a year. Raymond Zeng, who lives in the San Francisco Bay Area, said he avoids
spending money on luxury items and instead focuses on saving, investing and spending only on things that matter to him.
In an interview with Business Insider, Zeng explained that his lifestyle is intentionally minimal. Even with a high salary, he said he does not own many things that people usually consider basic household items.
He Says His Lifestyle Is ‘Spartan’
Speaking to Business Insider, Zeng said many of his friends describe his apartment and lifestyle as “Spartan.”
“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,” he said.
According to Zeng, his apartment has very little furniture. He shared that he only owns one desk and a roomba in his home. He explained that he prefers spending on experiences rather than material things.
“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,” he told Business Insider.
Most Of His Earnings Go Into Savings
Zeng earns around Rs 7.6 lakh every month as base salary. Along with bonuses and stock compensation, his total annual earnings cross Rs 3 crore.
According to the report, stock and bonuses make up nearly 60 per cent of his overall pay package. After taxes and retirement contributions, his monthly take-home income is around Rs 4 lakh.
Depending on bonuses and stock payouts, he said he manages to save between Rs 5 lakh and Rs 19 lakh in some months.
He Spends Mostly On Travel And Hobbies
While Zeng keeps his daily lifestyle simple, he does spend money on travel and personal interests. He reportedly sets aside around Rs 38,000 to Rs 48,000 every month for hobbies and trips.
He also uses credit card reward points to reduce travel expenses and has booked international vacations through those points.
He Hopes To Retire By 30
Zeng shared that one of his biggest goals is to retire early. He said he invests aggressively and puts money into retirement accounts as well as investment portfolios.
By his own estimate, he could build investments worth more than Rs 2 crore by the age of 30 and over Rs 60 crore by the time he turns 40.
“One of the biggest ideas I’ve taken from the FIRE (financial independence, retire early) 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,” he said.
