Google IT worker plans to retire at 35 and with savings of over Rs 41 crore; here's how

Ethan Nguonly, a 22-year-old software engineer at Google, is trying to achieve financial independence and early retirement with a target of accumulating $5 million (roughly Rs 41 crore) by the age of 35, as reported by CNBC. Nguonly's journey towards financial security began early in his life, influenced by his parents' emphasis on the significance of investing.

Raised in a coastal home, Nguonly's parents taught him the importance of investing over simply storing money in a savings account, stressing that the latter would result in diminishing value over time. This early financial education played a pivotal role in shaping his financial outlook.

Nguonly's determination to attain financial independence led him to complete his computer science degree at the University of California, Berkeley, in just two years, avoiding student debt. Concurrently, he pursued a master's degree in information and data science while maintaining full-time employment.

His aspiration to work at Google became a reality in December 2021 when he secured a position as a software engineer at the tech giant. He has an annual income totaling approximately $194,000 (roughly Rs 1.60 crore), inclusive of bonuses and stock units.

In his pursuit of early retirement, Nguonly has diligently invested, amassing nearly $135,000 (roughly Rs 1.11 crore) across various retirement and investment accounts. He has also ventured into the real estate market, acquiring properties in Florida and California, with intentions to further expand his real estate portfolio.

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By living with family members for the initial two years after completing his bachelor's degree, Nguonly adhered to a disciplined financial regimen, enabling him to accumulate an estimated $60,000 in savings. This fiscal discipline facilitated his acquisition of his first investment property in Riverview, Florida.

While managing out-of-state rental properties has presented challenges, Nguonly's dedication has paid off, allowing him to establish a foothold in the real estate market. Subsequently, he acquired his primary residence in La Palma, California, affording him the benefits of homeownership and the freedom to pursue his interests, including musical pursuits such as playing the ukulele and piano.

Nguonly's financial priorities are evident, with a substantial portion of his income earmarked for investments. Although this commitment has become more challenging following his property acquisitions, he continues to strive towards investing 35% of his take-home pay annually.

In the report, Nguonly acknowledged a significant setback in 2021 when he heavily invested in cryptocurrency on margin, incurring losses amounting to around $80,000. This experience served as a valuable lesson, prompting him to adopt a more cautious approach focused on long-term investments, particularly in ETFs and real estate.

Looking ahead, Nguonly remains resolute in his pursuit of early retirement. His plans include ongoing expansion of his real estate holdings through the acquisition of additional properties every few years.

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