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Software engineer is 22 years old, earns almost 200 thousand dollars per year and already plans to retire

Software engineer is 22 years old, earns almost 200 thousand dollars per year and already plans to retire

Software engineer is 22 years old, earns almost 200 thousand dollars per year and already plans to retire

Although many in USA They dream of reaching retirement age and moving near the beach, especially in South Florida or California, where concerns seem to be minimal. There are people who plan for that to happen, but several decades in advance. That is the case of Ethan Nguonly, who is barely over 20 years old, but has an attractive retirement agenda.

The young man is part of the FIRE movement (Financial Independence, Retire Early, that is, financial independence and early retirement) that is gaining more and more followers.

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This is a group of people whose main interest is to achieve financial independence as quickly as possible that allows them to retire early. This lifestyle became very popular among the millennial generation during the 2010s and, since then, it began to add millions of members.

At 22 years old, Nguonly already has a retirement plan, according to what he said in an interview with CNBC Make It. Although more than a decade ago he did not know that he wanted to retire at an early age, he attributes the origin of those ideas to what he learned from his parents since he was little, who taught him to invest in stocks and make money “grow” without doing anything.

Since he was young he worked for Google and already had an enviable salary. Today he has made a fortune with investments. (Photo: AFP) (KENZO TRIBOUILLARD/)

“My parents really explained it to me well. They said, ‘If you leave your money in a savings account, over time it will become worthless, so you should really learn to invest it in something,’” she said.

Learning to invest early and frequently, coupled with trying to graduate from college quickly to avoid debt and living with his family as long as possible to save money, was part of his plan to raise five million dollars and retire when he turns 10. 35 years.

According to what he told the American media, he currently has about $135,000 invested in his retirement accounts and other investment accounts, as well as in homes in Florida and California, and plans to expand his real estate portfolio in the near future.

Ethan studied software engineering and, living in Orange County, California, aims to put as much money as possible into his investments. When working for Google, he stated that he earned about $134,000 per year as a base salary, plus a 15% annual bonus, plus a kind of “compensation for being available for short notice projects” of $100,000 and $30,000 in stock. restricted.

Although the salary for working at the IT giant was not only enviable but also allowed him to move out on his own and start treating himself, Nguonly made the decision to live with his family for two more years, so he was able to save. the money I would have to use to pay the rent.

Now, in a job that he truly enjoys, without debt from university loans and with the money “working for him” while he dedicates himself to engineering, the young man believes that he already has a functional system to retire in just over a decade. . Finally, he warns that, although the cryptocurrency market looks very attractive and lucrative, it is currently so volatile that he prefers to invest in a more traditional way.

Source: Elcomercio

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