I ran into an interesting article on CNBC about a couple in the USA that retired in their thirties. It is a concept that I'm really fascinated by because owing to the life that crypto provides me in this cheap little bubble we call Nigeria, I am pretty much retired.
In America where life is a lot more expensive, I found it very fascinating to see people getting off the workforce early and making concessions in their life. This is particularly even more impressive when you consider all the credit facilities in place for the citizens.
According to this story, Steve and Courtney, both in their mid-30s in 2016 decided to retire from the 9-5 life. They amassed roughly $850k and then put money into various strategic investments that earned them dividends.
The couple have a flexible budget that adjusts to the performance of their investment. They also have savings in the event of a cataclysmic market event, like the COVID-19 situation.
The couple had to make multiple budget cuts and lifestyle changes that include pretty much living in the middle of nowhere. They rely on solar power, purify their own water they get from rain, made their own septic tank, and use cheaper health care plans. They even drive all the way to Mexico for dental because it is much cheaper.
They are "retired" but not in the literal sense of the word. Steve is a software designer and programmer, while Courtney is an engineer. However, they only work when they want to and not because they have to.
To be completely honest, this is a huge budget for someone in Nigeria and if I lived off this amount, I will be balling. In America, life is different and so this is actually a tight budget.
Through this budget, they fud a pretty modest lifestyle that includes paying for subscriptions that they use for their freelance jobs, food, and other things. Well things considered, it isn't really that bad when you think about it.
They have a large area of land, electricity, a home gym, and everything else in their quiet life in a desert somewhere in Arizona. They switched from the whole 401k lifestyle to the simple life and self-sufficient, and debt-free lifestyle.
The interesting thing is that they haven't always been like this. Now in their late 30s, the couple had to completely alter their way of life. Despite being the one who initiated the idea, Steve was hit the most by the lifestyle change because he was a bit of a splurge. Steve said;
“Before we got married, I spent a lot of money. I had a supercharged Corvette convertible. I had a brand new Cadillac CTS. I had a Yamaha sportbike. I had all the toys,” he says, noting that they have all since been sold. Now, the couple shares one pickup truck, which they use to pull their Airstream when they travel around the country.
I'd like to retire in my 30s
Being away from the 9-5 lifestyle gives you time and energy to actually do things you enjoy. You also get to discover yourself and realise what matters most to you.
Steve talked about how he earns from Youtube and social media activities. Naturally, that resonated with me because that has been my life on hive and crypto as a whole. I write posts here and earn through upvotes, then reinvest a hefty chunk into various projects that earn me dividends.
Assuming I decide to live out my years in Nigeria where our requirements aren't much, I would actually live a pretty "fancy" lifestyle but it comes at a steep cost. I will have to live in a country gripped with insecurity, a potential war on the backburner, and multiple problems that no amount of personal comfort can fix.
I'll like to be able to retire in my 30s but in a less dangerous place. So for now, I'll keep working and who knows? Maybe by the time I'm 33, I'll also be in a comfortable position to move to an affordable country where my passive income from crypto will allow me to live a simple life.