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Man retires at 34 - and reveals his tricks

2020-03-09T08:44:26.131Z


Work into old age? The American Sam Dogen did not want this and developed a plan for retiring early.


Work into old age? The American Sam Dogen did not want this and developed a plan for retiring early.

  • A 42-year-old today is fulfilling his dream of early retirement .
  • He reveals why an economical life is boring and not promising.
  • The American recommends stocks and real estate.

In Germany, younger workers have to work up to the age of 67 . It is understandable that some people think about early retirement *. Of course, this also applies to employees in other countries. One of them is the American Sam Dogen.

You retire at age 34 and $ 3 million

The now 42-year-old fulfilled a dream in 2012: pension * at 34 and a whopping three million dollars. But instead of turning over every cent three times, he invested his money and put his career first. In a post for the CNBC news portal, Dogen revealed why most tips for early retirement are nonsense .

He thinks the advice that you should save your 5 euro coffee a day is wrong. In his opinion, you would have to drink a huge amount of coffee to save a lot of money . Dogen shouldn't throw his money out of the window, of course, but Dogen believes that if you live too sparingly, you won't achieve your goal.

Read more: "I am under enormous stress": pensioner with severe illness (68) only lives on five euros a month.

Therefore, you should definitely not save too much

The abstinence also has too many disadvantages from the perspective of early retirees. On CNBC, he lists what economizing with a human being instead. At some point you would get bored if you saved on essential things like housing, food and transport routes. In addition, the move from a lively district to a cheaper, less exciting city is a bad exchange.

People would save money, but eventually life in the new city would get boring because you would miss a lot of events. In addition, it is difficult to find new friends and many are at risk of becoming lonely. But Dogen ignores the fact that cheaper, smaller cities also offer their advantages - a closer community, more rural recreation.

Economical living also leads to less risk. Instead of buying an apartment or a house, many would simply live for rent. This is the wrong way for Doges . Real estate would be more risky, but there is a chance of a lot of money on the sale. Whoever lives for rent only loses money.

Find out here: Couple indicted - had to leave Germany because "month was longer than pension".

Invest your money instead of saving

Instead, Dogen advises that you should be the best in your field to earn a raise or move to another company with a better salary. The additional money should of course not be acidified in the bank, but invested in real estate or shares *.

Doge's most important tip: keep an eye on your finances and see what you spend money on each month. Try to create and stick to a budget. Check your bank account regularly. In this way, Dogen managed to retire at the age of 34 and $ 3 million.

Also interesting: you only get a pension of 1,000 euros? You can indulge in luxury at these five locations.

Cheap paradises: Those who live here never have to go to work again

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* merkur.de is part of the nationwide central Ippen editorial network

Source: merkur

All life articles on 2020-03-09

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