Daijiworld Media Network – Mumbai (MS)

Mumbai, Apr 24: An excellent financial plan enabled Daniel George, an alumnus of IIT Mumbai, to take an early retirement at the age of 29.

Daniel graduated in engineering physics in 2015 and joined Google in 2018 at the age of 24, with an annual pay package of $265,000. Initially, George enjoyed the lavish perks and facilities offered at the Google campus, such as food, drinks, and recreational facilities. However, he realized that he was paying 50% of his income in taxes. To reduce his tax liability, he started investing in retirement accounts.

George cut down on expenses by biking to work, sharing an apartment, and making use of the complimentary meals served at Google. He spent only 10% of his earnings on expenses. Daniel shifted his focus to saving and growing his money.

By 2020, Daniel had been investing around $75,000 annually in tax-advantaged accounts. The wealth he accumulated was enough for him to retire. Daniel continued to reside in the USA and also met his wife, who works for Google.

George's compensation doubled when he was hired by JP Morgan to lead its applied AI projects. Despite the increase in income, Daniel maintained a modest lifestyle. He saved his first million dollars at the age of 27 through smart investments.

In 2023, Daniel quit his high-paying job at Morgan and co-founded an AI company called ThirdEar AI. Due to his financial stability from smart investments, he was not worried about being unemployed.

Daniel believes that when he and his wife plan to have children and settle down, they will have enough money to cover expenses and lead a comfortable life, thanks to his early and wise investments.