Hung saved his rent, along with up to 80% of his paycheck, to retire in his early 30s. Here's how he's adjusting to life without deadlines.
He finally decided to move the savings into low cost index funds in 2013. By then, he lost some of the gains from the recessionary depths. But the market has moved forward 8% annually over the past five years, giving him the chance to capture a good portion of the bull market.Despite living in the Bay area and earning, at his peak, $180,000 a year, Hung spends about $33,000 aHe doesn’t spend an exorbitant amount of money on rent, since he has a roommate.
As an example, he doesn’t own a car. Instead, he primarily rides his bike. If it’s a walkable distance, then he will do so. There’s also the train. In some cases, if he needs to get around town, then he will take a Lyft. But it saves him on the cost of parking, insurance, maintenance and buying a car. In 2019, he spent a grand total of about $1,000 on transportation.
, the further he can keep expenses below 4% of the portfolio, the better chance he has to make the money last, even in his later years.Besides reconnecting with friends and family, Hung has become a dedicated mountain climber. He has a goal of climbing three days a week this year, with trips planned to visit Brazil and Cambodia, where he will do some climbing, along with seeing family and other sites.
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