22-year-old Google engineer's Rs 41 crore retirement plan: Unveiled!
PTC News Desk: Ethan Nguonly, a 22-year-old software engineer at Google, is on a mission to retire early with a goal of accumulating $5 million (approximately Rs 41 crore) by the age of 35. His inspiring journey toward financial independence is a testament to his determination and smart financial choices, as reported by CNBC.
Hailing from Orange County, California, Ethan attributes his financial acumen to his parents, who instilled in him the importance of investing money in stocks rather than simply saving it in a bank account. He recalls their advice, "If you leave your money here [in a savings account], over time, it's going to become worthless." This early financial education set the stage for his investment journey.
Ethan's realisation that his investments could grow and generate income without requiring active work motivated him to pursue financial freedom. He expedited his computer science degree at the University of California, Berkeley, completing it in just two years, thus avoiding student debt. To save on rent expenses, he chose to live with his family after completing his bachelor's degree.
While simultaneously pursuing his master's degree in information and data science, Ethan secured a job at a software company. He successfully completed his master's program in August 2022 and, in the midst of his studies, landed a position at Google as a software engineer. His annual income now stands at $194,000 (approximately ₹1.60 crore), inclusive of bonuses and stock units.
Currently, Ethan has investments totaling nearly $135,000 (approximately ₹1.11 crore) spread across his retirement and other investment accounts. He also owns homes in Florida and California. His financial strategy includes allocating 35 per cent of his take-home pay annually to investments and plans to expand his real estate portfolio in the near future.
In early 2022, Ethan purchased an investment property in Riverview, Florida, and about a year later, he acquired his primary residence in La Palma, California, where he resides with his dog. He adheres to a frugal lifestyle by not spending extravagantly on food, benefiting from Google's provision of free breakfast and lunch. Moreover, he opts for affordable, minimalist clothing over high-end brands. While he enjoys traveling, he chooses budget-friendly options, such as sharing Airbnb accommodations with a friend.
To achieve his $5 million goal, Ethan intends to continue investing in his retirement accounts and steadily expand his real estate portfolio by acquiring new properties every few years. He draws inspiration from a book emphasizing the importance of spending on experiences and travel while young and healthy, aligning with his goal of enjoying life to the fullest during his retirement years.
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- With inputs from agencies
