I Will Retire at 30!!!

Duckies

No need to beat around the bush any longer, I might as well make it official — I am going to retire from my career as a professional engineer at the age of 30. When I first started this blog, my original target was 37.5. For anyone who has kept up with the About Me section, you’ll see that this target date has been moved in on a somewhat regular basis.

Sadly, no, it’s not because I won the lottery (although I am playing in the latest round of powerball!). I also haven’t discovered a way to beat the market on a consistent basis. No, I’m not doing anything new or exciting. I’ve just been simply saving like a maniac (60 to 70%+) over the past two years, and investing all my earned income and re-investing all passive/semi-passive income into buying more assets.

At this moment in time, my passive/semi-passive income stream brings in about $1300/month. This does not factor in any contributions from retirement accounts (401k/Roth IRA). My original FI target was $1500/month. By the end of 2014, I am aiming to reach somewhere between $2000/month to $2500/month. This will be made possible by securing one additional property this year, and three additional properties next year.

By the end of 2014, I will be 30. Hopefully, I will have 7 properties by then. If everything goes to plan, I could potentially exit out before year’s end of 2014. However, I also want to build up a cash buffer (dividend stocks) to serve as an emergency-emergency fund. So, if I can grind it out for a little bit longer, realistically, my goal would be to check out for good in mid 2015. I’ll still only be 30. This would also allow me enough time to collect one last round of yearly bonuses (RSU’s, stock options, etc.). All bonuses vest in August 2015. Summer also seems like it would be an ideal time to throw in the towel and ride off into the sunset.

Yep, that’s the plan for now. Grind it out for two more years… then live the life I’ve always dreamed about. 🙂

Thanks for reading! I’ve enjoyed sharing this journey with everyone so much!

Print Friendly, PDF & Email
Sharing is Caring:

29
Leave a Reply

avatar
13 Comment authors
Accountability – here I come!The New Job: Two Weeks Completed (October 10, 2014)FI Fighter Turns 30!Vanilla Reload Cards and BluebirdFinancial Samurai Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
Leigh
Guest

You’re a year older than I thought you were! I think I’ll be close to able to retire by the end of the year in which I turn 30. We’ll see. That’s with today’s numbers and that’s still 5 years away.

Can’t wait to see how things continue to unfold for you in the next couple of years!!

Dividend investing Martin
Guest

FI, great goal, great plan and great achievements so far. I like your idea of creating a cash cushion in case. May I shoot an advice? You probably know it. Jesse Livermore always said, never take out of your investment portfolio more that 50% of your gains. Take 50% and reinvest the rest. I do not think you need necessarily reinvest 50% of everything you make, but put at least 10% back to make sure your investments will always grow in thick or thin times.

Lisa @ Cents To Save
Guest

That is wonderful!! What an awesome feeling to accomplish at such a young age!

Pauline
Guest

Awesome! I am sure your plan will turn out fine even sooner. I targeted 40 and left at 29 haha.

Michelle
Guest

Looooooooooove this post 🙂 2 years is amazing!

Evan
Guest

Married? Kids?

JC @ Passive-Income-Pursuit
Guest

That’s a very ambitious goal and truly amazing to see the progress you’ve made in such a short time. I’m hoping to get one rental property next year to try and get started with some real estate investing because the cash flow can be very solid with the right properties.

Oh and in case you’re wondering, I was not the lucky one to win the Powerball so I’ll just keep sticking to the grind.

AS
Guest
AS

Hello,

Truly amazing to see your journey and achievements so far. I am pretty sure you will achieve this target within time as well!

I started reading your post regularly and I also want to start real estate investing. One question I have is do bank gets concerned once you start acquiring lots of real estate debt? Or in other words how to keep acquiring properties and mortgage loans without getting rejected by bank? I keep hearing from friends that it is very difficult to get a mortgage loan from bank. I will appreciate any input on this from your end.

Integrator
Guest

Nice work FIFighter!. I’ve got another 4 years before getting to our FI number. Kids tend to slow you down a little, but I wouldn’t trade them for anything 🙂 Ill still be happy to be independent by 40.

The First Million is the Hardest
Guest

Nice work! Being able to leave your job by 30 would be an amazing accomplishment & it sounds like you have a great plan to get there.

FI Pilgrim
Guest

Wow, just found your blog and you are my hero. Congrats on the early retirement!

trackback

[…] a lot on my mind even though I was primarily focused on relaxing. Since I now know that I want to retire in the next 1-2 years, I realized that I needed to ramp up my buying cycle to make this all possible. For sure, I knew […]

trackback

[…] I Will Retire at 30! – Looks like FI Fighter has done a great job preparing for his financial future allowing him to retire from his engineering career at a very very young age!  He’s a rental property investor showing there are multiple ways to reach financial independence. […]

Financial Samurai
Guest

Congrats man! Where do you live again to live off $2,000-$2,500/month? I think I gotta move out of SF!

It’ll be interesting to see whether you will actually be able to walk away. It’s harder than you think. Don’t forget to engineer your layoff and not quit!

Sam

trackback

[…] as I mentioned in App Party #1, this is something I am starting to focus more on. Since I plan to retire by 30, I think it’s important that I start amassing travel reward points so that I can truly enjoy […]

trackback

[…] As it so often seems, life just keeps moving along at a blistering pace… Time seems to just fly by in the blink of an eye, and I often find myself struggling to keep up. Early FI definitely gives me something to look forward to, as it provides the only means I know of to slow down time. However, it now looks like early FI will be a bit farther away than I had originally planned for. […]

trackback

[…] I won’t deny that I had the time of my life in August; everyday was a unique and incredible experience. So, with all that said, it may seem a little shocking to you as to why I would all of a sudden reverse course and execute a 180 degree turn. After all, I had made an announcement last year about retiring at the age of 30. […]

trackback

[…] extra action and belief in it. So many other people have sworn by doing this, including J Money, FI Fighter and plenty of you readers and other bloggers, so I’m getting on board and giving it the best […]

Close Menu