Last night, we ate dinner with a buddy of mine along with his girlfriend. The reason that I am writing about this is that my buddy, in a sense, is retired. Of course, I should note that he is about a year older (I am 27, so I think he is 28).
How did he do it?
Well, after college, he went and worked in the oil fields. He has an engineering degree, so I am guessing that he didn’t have the typical “grunt job” (which still pay well), but was a little higher up on the food chain.
Also, I believe he bought a house around that time in that area, and then housing prices skyrocketed (western ND has some of the highest rents anywhere in the country, even rivaling NYC, which tells you a little bit about the market there), which I am sure helped his bottom line. A couple of years ago, he was planning a climbing trip to Argentina, and his boss wasn’t going to give him the time off he needed, so he just quit his job, having enough in savings to not have to worry about money.
Plus, it goes without saying that he is very frugal, and did whatever he could to cut his costs. He is also in the National Guard (and has been for a few years), which gives him a little bit of an income boost. But, before any objections – he is not in the National Guard for the money purposes, and is doing it more because he wants to, not for the sake of having a job.
He confessed to me last night he is starting to get a little bored of not having a job, and might go back to school. He is also potentially going to be deployed to Afghanistan next year. All in all, a cool story, and it always inspires me to think about how he was able to become financially free at so young of an age! Even with a high income, it’s always impressive for me to think about it!