FI/RE Diaries: A software engineer living in Monterey Peninsula, CA and FI/RE-ing in 6 years with $530k
/
Follow @the.retired.millennial on IG here!
Occupation: I'm a federally contracted Software Engineer, I maintain and develop software for the U.S. Department of Defense
Industry: Tech in Government
Location: Monterey Peninsula, CA
Salary: $70k/year
FI/RE Number: $532,862 -- 4%SWR
Years Until FI/RE: 6 years
Current financial situation: I am living at a university staff/faculty housing neighborhood (from my part time job), which provides under market housing. I make way under market pay for my position because it's in the government sector. I turned down a six figure salary in SF to live a slow life on the central coast.
Ethnicity: Hispanic/Latinx
How did you first hear about FI/RE?
While I was using Chris Hogan's RIQ calculator in early 2020, it let me input in how many years I wanted to retire, and it clicked that it didn't have to be when I turned 65. After seeing how much I had to contribute a month to retire at 50, then 45, then 40, and 35 and seeing how doable it was, I decided that I would document my journey to early retirement in a blog called "The Retired Millennial." I searched "The retired millennial" on Google and found an article written about Grant Sabatier, who retired at 30 and was part of the FIRE movement.
Why do you want to reach Financial Independence/Retire Early?
I want to be able to own my time, and have the flexibility to plan my life around my future family. I don't want to plan my life around work.
What is your % savings rate?
62% After Tax (after 401k contributions). This does not include my part time or side hustle income.
Are you doing anything to achieve FI/RE faster? If yes, what?
House hack to save on rent, increase my income by flipping <3
Any advice you'd give to someone who has a similar FI/RE lifestyle as you, especially if it seemed hard or unattainable?
Check to see how you can cut back on your most expensive expenses and increase your income 😊. Follow other people who have done it or are pursuing your goals as well. It's also okay to start with a number and revise down the road.
Favorite FI/RE resources you’d like to share?
Follow the #firecommunity hashtag on Instagram!
Disclosure: Some links are affiliate links, meaning, at no additional cost to you, I may earn some compensation. All opinions are 100% my own! I truly appreciate you and your support. :)
