Despite the high income, George spent less than 10% of his earnings on expenses.
Daniel George contemplated early retirement at the age of 24 when he secured a job at Google with an annual salary package of $265,000. After graduating with a bachelor's degree in engineering physics from IIT Bombay in 2015, George had the financial foresight to plan for early retirement by diligently saving money.
Starting his career at Google X in 2018, George enjoyed the perks of working in a luxurious environment with unlimited amenities, including food, drinks, recreational facilities, and more. After a year, he began educating himself about finances and taxes, realising he was paying nearly 50% of his income in taxes. To optimise his retirement accounts and minimise tax liability, he invested as much money as possible into these accounts.
Despite the high income, George spent less than 10% of his earnings on expenses. He walked or biked to work, shared an apartment to reduce rent and ate the complimentary meals at Google. Rather than spending on luxuries like expensive cars or houses, he focused on investing most of his earnings to allow his money to grow and compound over time.
George invested over $75,000 annually into tax-advantaged accounts, and by 2020, he had accumulated enough wealth to retire. However, he chose to stay in the US and continue growing his wealth after meeting his future wife, also an AI scientist at Google.
In 2020, JP Morgan hired George to lead applied AI projects, doubling his compensation. Despite the increase in income and net worth, he maintained a modest lifestyle. At the age of 27, George reached his first million dollars in savings, thanks to prudent investing and saving a significant portion of his earnings.
In August 2023, at the age of 29, George left JP Morgan to co-found a startup, ThirdEar AI. With financial stability and passive income from investments, he is now confident about taking entrepreneurial risks. George's early investments have provided him with the financial freedom to pursue his passions without worrying about earning a salary in the future.
"Now that I never need to worry about earning a salary, I can afford to risk starting my own company," he said, adding, "Eventually, when my wife and I decide to settle down and potentially have kids, I'm confident that all our investments will earn enough passive income to meet our family expenses. Because I invested early, I won't have to worry later."
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Daniel George")
){kind=small}
){kind=tracking}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}