Being Financial Free - A man who retired comfortably at age 30 explains how much money he had to save.

I have finally cleared 3 out of my four credit cards. I cleared almost RM25,000 in 4 years. I was a real spendtrift. But reading great books like Rich Dad Poor Dad, Richest Man in Babylon and the Wealthy Barber. I made a pact with my self to be financial free. The road was hard, there were temptations along the way but I pulled through with the help from my loving and understanding wife. I have even paid up my housing loan using my Employee Providence Fund. Something I only found out that I could do recently. Well I might not stop working or retire early as I love being in the Food and Beverage Business but I will be financially free. Here is in article on Business Insider on how much money you need to save to be financial free.

A man who retired comfortably at age 30 explains how much money he had to save

After a mere 10 years of working as software engineers, Peter Adeney (better known as “Mr. Money Mustache”) and his wife Simi had enough money to retire comfortably and debt-free.

That was in 2005, right before Mr. Money Mustache’s 31st birthday.

“This was achieved not through luck or amazing skill,” he emphasized to Farnoosh Torabi on episode 38 of “So Money,” her personal finance podcast. “But simply by living a lifestyle about 50% less expensive than most of our peers and investing the surplus in very boring, conservative Vanguard index funds and a rental house or two.”

Mr. Money Mustache clearly figured something out — and he shares tips and strategies on his personal blog — but just how much sacrifice did it take to set himself up for such an early retirement? How much of his and his wife’s combined $134,000 salary was going to savings?

“I saved about two-thirds of our take home pay,” he told Torabi.


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