Ethan Guongli, 22, a software engineer at Google, has set a goal of saving $5 million (around 41 billion rupees) by the age of 35, according to CNBC, and is seeking financial independence and early retirement. The aims. Influenced by his parents who emphasized the importance of his investments, Guong Li’s journey to financial stability began early in his life.
Growing up in a coastal home, Guongli’s parents taught him the importance of investing rather than simply keeping money in a savings account, emphasizing that the latter diminishes in value over time. did. This early financial education played a pivotal role in shaping his financial outlook.
Nguonly’s determination to achieve financial independence avoided student loans and earned a computer science degree from the University of California, Berkeley in just two years. At the same time, he also pursued his Master of Science in Information and Data while maintaining full-time employment.
His desire to work for Google became a reality in December 2021 when he secured a position as a software engineer at a tech giant. His annual income totals around $194,000 (approximately Rs 1.6 billion) including bonuses and share units.
Aiming for early retirement, Mr. Guongli invested diligently, raising about $135,000 (approximately Rs. 1.1 billion) in various retirement and investment accounts. Intending to further expand his real estate portfolio, he also entered the real estate market, acquiring properties in Florida and California.
Living with her family for the first two years of her bachelor’s degree allowed Guongli to maintain disciplined financial management and amass an estimated $60,000 in savings. This financial discipline facilitated the acquisition of his first investment property in Riverview, Florida.
Despite the challenges of managing out-of-state rental properties, Mr. Guongli’s dedication has paid off and helped him gain a foothold in the real estate market. He then acquired his primary residence in La Palma, California, giving him the benefits of home ownership and the freedom to pursue his own interests, including musical pursuits such as playing the ukulele and piano. .
Mr. Guongli’s financial priorities are clear, with a significant portion of his income being invested. This effort became even more difficult after his property acquisition, but he continues to strive to invest his 35% of his annual take-home pay.
in the reportGuongli admitted that he experienced a major setback in 2021, investing heavily in cryptocurrencies on margin and suffering losses of around $80,000. The experience taught me valuable lessons and led me to adopt a more cautious approach, especially with a focus on long-term investments such as ETFs and real estate.
Looking ahead, Guongli remains determined to seek early retirement. His plans include continuously expanding his property holdings by acquiring additional properties every few years.
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