# The 30-year-old retirees **URL:** \ **Category:** General Chat\ **Created:** [6 May 2018 12:14 UTC](https://community.monzo.com/t/the-30-year-old-retirees/37366 "2018-05-06T12:14:36Z")\ **Posts on this page:** 7\ **Page:** 1
**Author:** ![rolanddeschain](https://avatars.discourse-cdn.com/v4/letter/r/9f8e36/32.png) [@rolanddeschain](https://community.monzo.com/u/rolanddeschain)\ **Post date:** [6 May 2018 12:14 UTC](https://community.monzo.com/t/the-30-year-old-retirees/37366/1 "2018-05-06T12:14:37Z")
> A growing number of young tech workers are expediting the path to financial independence by living frugally and following the “4% rule.” This made for some interesting reading. > **[The 30-year-old retirees](https://thehustle.co/how-to-retire-early/?utm_source=sunday&utm_medium=email&utm_campaign=5%2F6%20-%20retire&utm_content=how-to-retire-early)** > > A growing number of young tech workers are expediting the path to financial independence by living frugally and investing intelligently. > Shortly after Kristy Chen and her partner, Bryce, turned 31, they quit their computer programming jobs and retired. > > The couple had grown disillusioned with the “Boomers’ dream": get a job, buy a house, be a loyal employee, retire at 65. Instead, they devoted themselves to a barebones lifestyle, saved 80% of their annual income, and amassed a portfolio of $1m — enough to live (frugally) off the dividends. > > Millennials are often hounded for their poor financial management. Some 66% of 21 to 32 year-olds have no savings, and one-third don’t actively think about retirement. > > But a growing subculture of young folks — mostly high-paid tech workers, like Chen — are hellbent on achieving financial independence by their early 30s. ---
**Author:** ![TonyHoyle](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/tonyhoyle/32/3357_2.png) [@TonyHoyle](https://community.monzo.com/u/TonyHoyle)\ **Post date:** [6 May 2018 13:08 UTC](https://community.monzo.com/t/the-30-year-old-retirees/37366/2 "2018-05-06T13:08:41Z")
They managed to save $1m just by living frugally? I’d love to have ever had the chance to do that… Whereas I could probably have saved quite a bit… I don’t _need_ a car, or computers, or internet… rent/mortgage have eaten half my income straight away. Then food on top of that… And I’m not badly paid. “Kevin reels in a pre-tax salary of $165k per year” It’s a lot easier if you start earning figures like that… ---
**Author:** ![HoldenCarver](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/holdencarver/32/32425_2.png) [@HoldenCarver](https://community.monzo.com/u/HoldenCarver)\ **Post date:** [6 May 2018 13:45 UTC](https://community.monzo.com/t/the-30-year-old-retirees/37366/3 "2018-05-06T13:45:53Z")
> [@TonyHoyle](#): > > It’s a lot easier if you start earning figures like that… That’s often the ‘secret’ of how young savers have managed to make things work. That or “thanks to an inheritance/gift from their parents/being able to live rent-free…” ---
**Author:** ![garete](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/garete/32/3947_2.png) [@garete](https://community.monzo.com/u/garete)\ **Post date:** [6 May 2018 13:51 UTC](https://community.monzo.com/t/the-30-year-old-retirees/37366/4 "2018-05-06T13:51:47Z")
$165 is about £122k Just less than 2% of the country earn that much. But also bear in mind we are not the US: [http://www.iii.co.uk/articles/390506/why-4-income-rule-flawed](http://www.iii.co.uk/articles/390506/why-4-income-rule-flawed) It’s not impossible, but articles often hide the details. ---
**Author:** ![coffeemadman](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/coffeemadman/32/125134_2.png) [@coffeemadman](https://community.monzo.com/u/coffeemadman)\ **Post date:** [6 May 2018 14:44 UTC](https://community.monzo.com/t/the-30-year-old-retirees/37366/5 "2018-05-06T14:44:33Z")
The average person will never earn a million over the course of their entire life. This is a niche part of the population. Move on. ---
**Author:** ![Chapuys](https://avatars.discourse-cdn.com/v4/letter/c/e9a140/32.png) [@Chapuys](https://community.monzo.com/u/Chapuys)\ **Post date:** [6 May 2018 15:34 UTC](https://community.monzo.com/t/the-30-year-old-retirees/37366/6 "2018-05-06T15:34:13Z")
It would take me 33 years to save up £1,000,000 if I didn’t spend my pay - which is impossible. I guess I could do it quicker, by investing and gaining compounded interest etc. But still a very long time without any money. ---
**Author:** ![WillP79](https://avatars.discourse-cdn.com/v4/letter/w/94ad74/32.png) [@WillP79](https://community.monzo.com/u/WillP79)\ **Post date:** [6 May 2018 16:16 UTC](https://community.monzo.com/t/the-30-year-old-retirees/37366/7 "2018-05-06T16:16:27Z")
Google have the saying “If you can’t reach the stars, at least shoot for the roof” (or words to that effect). Although you may not reach the £1m, it is possible to take inspiration from people who manage to save. I started buying cryptos and shares last year. The shares have made about 25% (despite some early silly mistakes) and the cryptos 400% (despite the recent crash) so good things are possible with a small amount of research…