After graduating from college, Jesse Cramer was $42,000 in debt, made up of student loans and a car loan.
For several years, he stuck to a strict budget to pay off his debts, save for a home, and build a six-figure net worth.
Cramer plans to be financially independent by the age of 45. To achieve this goal, he uses simple “lazy” investing strategies: invest broadly and set and stick to strict budgets for all expenses.
When Jesse Cramer graduated from college in 2012, his debt was $42,000, which included the cost of buying a car and his student loans. He received his mechanical engineering degree from the University of Rochester in New York.
His first job out of college was at a software company in Wisconsin, where he earned a starting salary of $60,000 a year. “I remember that time when I was holding my first paycheck and I was like, ‘I have so much debt, I should put the money into my retirement somehow. But I’m 22 and I just got my first paycheck – I kind of want to spend the money right away.’ At the time, I didn’t know how I could fulfill both wishes.”