This 22-Year-Old Making $194,000 A Year Plans To Retire At 35 By Using FIRE Principles

At a young age, many dream of financial freedom and early retirement, but few take decisive steps toward realizing this goal.

Ethan Nguonly, a 22-year-old software engineer, is not just dreaming but actively working towards a future unburdened by financial constraints, a journey he initiated even before becoming a teenager.

Being a steadfast adherent of the FIRE (Financial Independence, Retire Early) movement, Nguonly has been honing his financial literacy and investment skills since the age of 11, a pursuit fostered by his parents.

His early introduction to the financial world has set him on a path to accumulate a wealth of $5 million by the age of 35, a journey chronicled by CNBC reported.

Currently employed at Alphabet Inc.’s GOOG GOOGL Google, he has a yearly earnings package amounting to approximately $194,000 and has judiciously invested around $135,000 in various avenues including retirement funds.

His financial voyage commenced with small yet calculated investments in stocks, a strategy guided by his mother who would help him purchase shares from a select list of companies.

This early exposure to the world of investments fostered a realization in him: “This really exposed me to the idea that my investments could make me money instead of me actually having to actively work for it,” CNBC quoted Nguonly.

Education has been a cornerstone in Nguonly’s strategy to avoid debt. He sped up his educational journey, completing his bachelor’s degree in computer science from the University of California, Berkeley in a mere two years.

Also Read: The Financial Samurai: Unveiling The Man Behind A $4.4M Portfolio

Later, while holding a full-time job, he pursued and successfully completed his master’s degree in less than a year, a testimony to his determination and forward-thinking approach.

Real estate forms a substantial part of his investment portfolio, with properties in Florida and California. Despite the hurdles of managing a property remotely in Florida, he is keen on further expanding his real estate assets, eyeing to acquire a new asset every few years.

His primary residence is in California, where he cherishes his time with his Samoyed puppy, Sakura, and nurtures his hobbies including playing the ukulele.

While his journey has not been devoid of financial missteps, including a considerable loss in the crypto market in 2021, Nguonly remains undeterred.

He has recalibrated his investment strategy to focus more on ETFs and real estate, steering clear of speculative markets to ensure steady growth.

Nguonly is fueled by the philosophy of enjoying life while young, a sentiment echoed in the book “Die With Zero” by Bill Perkins. He envisions a future where he can relish his youthful days without the constraints of a regular job, a vision that propels him in his pursuit of financial independence.

Now Read: Rent The Runway CEO Tells How Early Life Lessons Help Build $95M Company

This story is part of a series of features on the subject of success, Benzinga Inspire.

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