I was an MD at a big bank, and I retired early. Real happiness came from buying my freedom, not an expensive watch.

"When I was a young banker, I often heard my more successful colleagues bragging about their new watches or latest sports cars. It wasn't long before I gave in to peer pressure. I bought myself a $3,000 watch. That made me happy for a few weeks, but the novelty of owning the watch faded quickly. I stopped wearing that watch and switched back to my Timex, which I continue to wear."

"Needless to say, I didn't follow my colleagues' footsteps when they bought their exotic cars or private wine cellars. I began to realize that instead of spending my money frivolously to impress others, I was better off using it to buy my freedom. When you are working a regular job, you have to work with people that you may or may not like. You don't get a choice."

"Holding back on big-ticket expenditures during my banking days has given me the freedom to pursue my passions and interests in retirement. In 2005, I contemplated going back to school to get an architecture degree. I eventually dropped the idea once I factored in the costs of switching careers. Besides having to study for five years, I would also miss out on the income and bonuses I could have gotten if I had just stayed in banking. It just didn't make sense"

An investment banker resisted lavish spending habits and prioritized saving rather than buying status symbols like exotic cars. A $3,000 watch brought brief happiness, then was abandoned in favor of a Timex. Choosing to avoid big-ticket purchases enabled accumulation of savings that funded early retirement in his forties. With financial freedom, choices about work, projects, and colleagues became possible. He considered a career change to architecture in 2005 but rejected it after calculating lost income, study time, and bonuses. Frugality funded a lifestyle centered on passions and voluntary work rather than impressing others.

Read at Business Insider