A 22-year-old Google Engineer, Ethan Nguonly, plans to retire early at age 35 with savings of $5 million, approximately 45 crore rupees.
According to CNBC reports, Ethan lives in Orange County, California. He presently owns about $135,000 in retirement and other financial accounts and homes in Florida and California. Shortly, he intends to expand his real estate portfolio.
Ethan tells CNBC Make It, “[My parents] explained it to me well.” “They said, ‘If you leave your money here [in a savings account], it will become worthless over time,’ and that you should learn to invest it in something.”
Investing early and frequently, as well as working hard in college to avoid debt and saving money by living with family. Have enabled him to make significant progress toward earning $5 million and retiring by age 35.
Moreover, Ethan aims to spend cautiously to put as much money as possible into his assets. Working at Google, he makes roughly $194,000 per year, which comprises a basic salary of $134,000, a 15% annual bonus, on-call compensation of around $10,000 per year, and $30,000 in restricted stock units.
On the contrary, his income allows him to live comfortably, yet he avoids excessive spending. “I try to live as frugally as possible without compromising the quality of my life,” Ethan explains.
Ethan Nguonly’s mother gave him a few companies to pick from when he initially started investing, and she would buy stocks on his behalf. He continued to put the money he earned from teaching younger children into his brokerage account as he grew older.
“When I was younger, the main thing I was thinking about was, ‘All this money keeps getting bigger, keeps growing, and I’m not doing any work for this,’” Ethan Nguonly added. “This exposed me to the idea that my investments could make me money instead of me having to actively work for it.”
Google Engineer plans to retire at 35:
#Google #engineer plans to retire at 35 with Rs 41 crore in savings. #EthanNguonly is one such #software engineer who has perfectly planned to retire at 35 with over Rs 41 crore in savings. He has an annual #income of Rs 1.60 crore including #bonuses and #stock units.
He has… pic.twitter.com/M2Iq1dRlEw
— NewsFirst Prime (@NewsFirstprime) September 5, 2023