Millionaire who saved 70% of his income and retired at 35: 'We should all live by these 6 basic principles'

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Millionaire who saved 70% of his income and retired at 35: 'We should all live by these 6 basic principles.' (via CNBCMakeIt)

The first rule is the most important, and it has little to do with money. It's about wanting to achieve a goal enough to make it your top priority.

I started a financial site and wrote on it consistently. Eventually, I was earning a monthly average of $1,000 through the site. Courtney and I also started a YouTube channel documenting our travels, which brought in another $400 to $500 per month. And with the bit of free time I had left, I made an extra few hundred bucks through freelance writing.

The idea behind this is simple. You buy an asset for a certain price. Over time, the asset appreciates in value. And boom, now you have something that's worth more than what you paid for. Over the subsequent years, thanks to investing in appreciating assets, we grew our savings to more than $1 million. When it comes to investing, late is always better than never. If you haven't started, there are plenty of resources online or you can talk to a trusted financial advisor.I always like to take the hands-off approach whenever possible, especially when it comes to money.


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MakeIt Dude sold his motorbike beforw retiring...

MakeIt I know that guy. He’s broke now.

MakeIt Where's the part about not having kids?

MakeIt TLDR: get a high paying job, significant other with high paying job and don’t have kids. So much wisdom in this article 😂

MakeIt Why do you post so many tweets that make so many people ENVIOUS. If we all retire at 35, who will actually work to keep the country funded. Retirement is far too over-rated. Get a good job, serve your community and help those less fortunate than you.

MakeIt Not exactly retirement when you are freelance writing, blogging, and YouTubing to supplement your meager savings. The better story would be to do what they did until he was 40 or 45 and then actually retire with $5 million with no strings attached.

SteveOnSpeed MakeIt Early retirement isn’t the end game for many, but the principles here are rock solid. I’ve chosen a sales career to help advance my desires. Higher incomes, greater schedule flexibility, and quicker asset accumulation. Sales roles are everywhere! Get one!

MakeIt Really great article Steve🔥 SteveOnSpeed

MakeIt Amazing 👏 and well done 👏

MakeIt Thanks Dave Ramsey.. but this advice sucks to most people.. why because people can’t seem to follow the basic laws of investing, due to the Instant gratification world we all live in.. ha suckers

MakeIt But for most people the first million will be harder

MakeIt Yay, the selfish dude that never had kids yippie! Of course he saved that much !

MakeIt How are his appreciating assets doing?

Just savings is not enough. People should invest them wisely. Beginners can read this book to learn to invest their money wisely 👇

Why retire? Just take a less stressful job

Pure propaganda. Get rich, but don’t enjoy your life. Live frugally. okcnbc

i could retire long time ago... but that would be boring!!

Dumb advice.

Such a lovely sentiment to post for the holidays MadMoneyOnCNBC FastMoney ! I would guess that you’d first need a fucking job.

It only takes 30 - 50 years to get paid a million dollars. Save every penny. Don't spend even a penny.

What was his effective tax rate?

Never give to charity is one.

AnYbOdy CaN bE RiCh! YoU’Re JuSt SElfISh and LaZy.

Don't listen to people

Have a six figure job, probably

MakeIt Easy to say when you're making millions and not living paycheck to paycheck

MakeIt SteveOnSpeed - seems like some commenters likely need some no BS personal finance knowledge

MakeIt Biden about to take 70% of your income give to the lazy who guarantee him a vote

MakeIt A lot of these articles are basically, earn six figures, save a buttload which isn’t hard to do when you earn that much, and then have about a million or more at 35 to retire early if you want.

MakeIt Saving...2020...interest rate at 1%...😀😅🤣😂😆😁🙂😐😏😒😧😢😭

MakeIt Oh stfu

MakeIt “I quit my six-figure job in software development” - first step in saving $ is making $. This article is for upper/upper middle class people, not everyone else...🙄

MakeIt Back of the napkin calcs say he made 136k-ish for 14 years, 100k after taxes at 70% saved means 30k spent a year. 50% of US jobs pay less than 36k BEFORE taxes. So, it would take them 333 years to do the same OR 43 yrs living on 10k a year, which is 3k under the poverty line

MakeIt How the fuck do you get a six figure job with a learning disability? This smells more fishy than my piss.

MakeIt 70%? Don’t need to pay tax? I am in deficit after paying tax and mortgage

MakeIt Sounds horrible honestly. I had means to retire at 45 and I looked at my parents in retirement....enough said

MakeIt Did he worked for his billionaire unky?

MakeIt Retired at 35? He must bored out of his mind.

MakeIt Stopped reading he simply got 6figue salary lol

MakeIt 'Be gifted money by your parents to start'

MakeIt 'Inherit'

MakeIt Rule first - earn way more then national average. If you can’t forget about retiring.

MakeIt Always pay attention to your numbers is well worthy of being on the list.

MakeIt more tras , bullish

MakeIt Can I still give to charity?

MakeIt Good job creating all those alternative income streams

MakeIt The first basic principle is have a parent worth a lot of money. That solves about 60% of life’s problems.

MakeIt Retired at 35? I took a few years off after selling a company. It got very boring, stay hustling

MakeIt Principle 6 Stop watching CNBC, start thinking

MakeIt 1. Always be a tight ass.

MakeIt Repost maximum exceeded...please delete this permanently from your hard drive!

MakeIt The article said the guy had only saved a little over $1M. How does a 35-year old live on only $1M for the next 55 years? Ridiculous. A 60-year old couldn't even retire on that small amount. He's missing at least another 'zero' on that just to get by.

MakeIt Instead of having high taxes, a certain percentage of income should be mandated to flow into a personal provident fund, like it is done in some Asian countries. The idea is that it’s going to grow over time and is tax sheltered. Everyone can achieve financial freedom early

MakeIt This guys has lost his best years of life in dark instead of partying! He should sit down and listen to a highly paid software consultant with super flexible hours 😂

MakeIt There seems to ba a lot of rage against being young and successful. Who would have thought that? AOC?

MakeIt Step 1: forget about kids, ever.

MakeIt First, living a life of whatever the opposite of generous is Then, tell everyone what to do

MakeIt 100k for software development ok...but the value isn't in 2 bit programming but 4 bit genetic editing for reverse ageing. So this is me at least also JusticeforBreonnaTaylor

MakeIt We don't give af what the millionaires say.

MakeIt You know I could be cynical and ask how many jobs did this person destroy because they decided not to spend the money they took out of the economy?

MakeIt These articles are always so funny because the first step is to get a six figure day job. Thanks for the advice.

MakeIt Why one should retire at all at any age?

MakeIt Who is we all? Not with the pay scale America has , not to mention to live good you can not be a millionaire . Also there isn’t enough money for each human to be a millionaire, but there is enough for better living/conditions

MakeIt You have exceeded repost maximum! Try some new lame material!

MakeIt Retirement planning is most important, but who less spend means less contribution to the economy. If we have people like him for the sure market will be in recession

MakeIt Great article! And he could have retired sooner had he invested in Bitcoin and HEX.

MakeIt Easy to say, hard to do! :)

MakeIt I don’t look to retire in my 35, just looking for independence job an decent life, mountain 🏔 🎣

MakeIt These type of articles are so unrealistic

MakeIt Successful people hardly tell us the truth......

MakeIt Don’t have kids. That will save you a whole lot of problems, and money most importantly.

MakeIt He's bald from stress and his woman ugly! This article is fake news like everything else at CNBC!

MakeIt Quit his “6 figure job” hmmm 🤔 of course he could afford to save 70% of his income. No kids, living with a partner that has her own income AND HE HAS A 6 FIGURE JOB. 😅

MakeIt What? Advice- “In addition to you and your spouse making $250,000 a year and then also earning and extra $1500 in random online gigs- you, too can retire early”

MakeIt should be read


MakeIt Shut up with these articles.

MakeIt many white people

MakeIt We ain't millionaire 😔

MakeIt Principal 1: Don’t have kids

MakeIt Principle 1: Money begets money.

MakeIt This is the worst article of all time - not only for how tone deaf it is, but for how preposterously inaccurate it is. Nobody entered workforce in 2009 & retired by 2020 without serious help. Give me a break

MakeIt Attention all McD cashiers that can somehow save 70% of income... Retire at 35 😕

MakeIt Rule 1: Have a 6-figure job.

MakeIt A million is not enough.

greta MakeIt 🤣😂🤣 30% of this guys income is more than I have ever made annually. If I made SIX figures I'm sure I could retire early too. GTFOH!!!

MakeIt Stop showing the same article

greta MakeIt Are you going to continue this lifestyle when you have children or do you want children.. if it’s only you and your wife it sounds great.. and if you’re happy with this decision enjoy!

MakeIt Wait until have a kid or two...

greta MakeIt Not healthy to retire that young.

MakeIt The guy was making 6 figures a year. The rest of us are working poor jobs. No way for that to happen to most of us.

greta MakeIt Looks like he married his mother

MakeIt Yeah, I did the same thing, and it isn't all that it's cracked up to be. I enjoy working.

MakeIt While his daddy and mommy gave him a nice backboard!! All BS!! CNBC is a joke..

greta MakeIt 35 is too young for retirement

MakeIt I didn't read this article but I suspect it's insensitive.

MakeIt But he is not really retired right? He works as a financial planner, does You Tube videos and speaking engagements. Their jobs just changed. It’s all BS.

MakeIt Saving 70% of your income is no burden when the remainder leaves you with 300k a year. What did he sacrifice? A second boat? State college for the kids and not ivy league? His advice is useless for a family making 60k a year.

MakeIt I loathe these articles.

MakeIt They never tell you how papa helped them by not having student loans in college or having a place to stay at home.


MakeIt And he did all that without a protest or saying that he was overlooked because of who he was! What does that prove Life doesnt owe you anything!! You work hard get your head down you become successful! Well done 👏🏻👏🏻

MakeIt If i save 70% of my income ill be left with

MakeIt I don’t think YOU ought to be deciding what “WE should all” do.

MakeIt Here's some 'reading' material iamkoshiek

MakeIt Miserable existence

MakeIt Some people actually love what they do and work because they love it and don’t want to retire. Just a thought.

MakeIt Same here , I have also retired when I was 37 years old.

MakeIt Gonna have to go back to work if democrats win White House.

MakeIt He should have bought some hair. So let's say 65%.

MakeIt What an annoying person

MakeIt Not retire ... found alternate means of income ... blogs, YouTube’s and travel trends.

MakeIt Anyone who thinks they can retire on $1mln is a complete imbecile. Especially at 35. A decent life style needs $5mln to allow retirement and age 62.5 with a 95% chance of outlasting your nest egg. This sort of crap is totally misleading on many fronts.

MakeIt Thanks for the advice, I was going to invest in depreciating assets but this saved me

MakeIt It’s funny how they all call themselves financial expert. Be like me....I retired in my 30s. Oh yeah btw check out my blog and Youtube videos because I still need to make money because...I’m retired! Ugh.

MakeIt I’m all for financial empowerment and wellness. It’s my job. But this piece does my head in. We see the destructive effects of glorifying goal 1 (“Make financial freedom your No. 1 goal”). How about: Do what makes you happy, spend time with family, etc? No wonder kids day trade.

MakeIt If he was saving 70% of his income he must have been earning what many people would consider one hell of an income. Just how meagre was his existence while saving? And if he converted his savings into an annuity, how meagre will his existence be now he is retired?

MakeIt If we are white men. The rest of us have to earn our accomplishments.

MakeIt Had a six figure job. Not relatable to most.

MakeIt Tio who can save 70% of income? How much one need to earn to be able to do so? How one will pay for RENT-UTILITIES-TRANSPORT-FOOD-Etc? Give me a break! 😷👍☕🏡 Come On Now!

MakeIt $1 million and he's retired at 35? I assume he's going to move to, like, the Dominican Republic to pull that off. Nothing wrong with that, but I'm sensing there's a story-behind-the-story here.

MakeIt Don’t tell the fed someone saved! They must be so selfish to save like that!

MakeIt I'm saving 24% right now. Hoping to get to 30% by the end of the year. 70% would be amazing 😂

MakeIt cant retire at 35 with only $1MM

MakeIt The whole world cannot be rich stop selling dreams.

MakeIt Sounds stressful 🤡🤡🤡

MakeIt ☹️

MakeIt Would be nice but most people have to spend 75% of their income on housing. If you can save 70% your already in the top 1%.


MakeIt Boring


MakeIt In most cultures people want to stay engaged, active , productive as long as they can maybe bc they get 6-8weeks vacation every year 🤣🤣🤣

MakeIt What do they do now?

MakeIt Wonder if they ever made donations to charity.

MakeIt Again: 'Retired', 1 Mil is not going to last you 45 years.

MakeIt I’d love to retire early. That was awesome to read.


MakeIt Certain lives are Foreordained by the Providence!

MakeIt Now do it if you earn 80,000 between the both of you with 4 kids.

MakeIt Wasted all his best years in his 20s. Thinks he will live forever. Dummy.

MakeIt Para ahorrar el 70% del sueldo hay que ganar muchodinero, digamos 6000-8000€?

MakeIt Assets aren’t guaranteed to appreciate its sort of an important assumption

MakeIt They only needed one principle: have a 6-figure income and no dependents so there's lots of extra money to put in the bank. Basically 'you can't afford to retire because you're spending too much money on avocado toast.' Such helpful and realistic advice for everyone!

MakeIt 70 % saving from annual earning habit is really good. Cut unnecessary expenses and save.

MakeIt Six figure salary, dual income and no mention of kids. Just an average family🤦🏻

MakeIt I noticed he doesn’t mention anything about family. I’d be more impressed if he had 3 well adjusted kids and a stable marriage.

MakeIt HouseDemocrats SenateDems would be out of the job if people did.

MakeIt we all should make $200k a year

MakeIt Saving won't make you rich okay. investing

MakeIt Good on him

MakeIt There are only two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle.

MakeIt Its a lot easier to save 70% of your income if your income is high enough to cover the essentials. What a dumb headline... Millionaire retires cause he is rich.... no shit.




MakeIt So paid his 30% taxes off the top and never spent a dime of anything else... sounds legit

MakeIt It seems like the biggest saving this couple has made is not having kids.

MakeIt It's a mistake to lose one's momentum...

MakeIt He’s 35 looking 45. I’ll pass living like him.

MakeIt Work and live a rich life vs retire early and live a frugal life?

MakeIt If we could only stop spending, this could be us. See the value of saving.

MakeIt This will work great for the millions working at or near minimum wage. Just save 70% of your income, poors! Stop being poor!

MakeIt Most of these very early FIRE 'retirees' still have side gigs, mostly blogs, with many generating substantial income on the side. I'd call them self-employed semi-retirees.

MakeIt Guy who is privileged continues to be privileged. Next...

MakeIt Because they never give to charity.

MakeIt Rioters in London are assaulting police horses.

MakeIt not everyone wants to retire at 35

MakeIt should be read

MakeIt The amount of times y'all posted this lol 😂

MakeIt 1.Seize the means of production

MakeIt Rule 1 have a 6 figure job in your 20s.

MakeIt 1) Have a job that pays a six-figure salary 🤦🏻‍♂️

MakeIt 30%+ is taxed if you’re making six-figures, so not sure how this adds up. Also, hate to break it to this guy but not sure $1m is going to cut it for his remaining 50 years.

MakeIt Tomorrow isn’t guaranteed. Live life to its fullest now.

MakeIt Same tone-deaf energy.

MakeIt Millionaire will be poor in his old age if he stops working

MakeIt “Retired”? You should just call it an extended vacation... 1 Mil is nothing if your going to live 55 more years... and that is just if he lives till 80.

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