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New York Lawyer who Earns $270,000 Lives on Rice and Beans to Retire Early!
What's your choice - living a luxurious life with current income or saving it to retire and relax earlier! A 36-year-old Manhattan corporate lawyer Daniel who earns $270,000 a year, lives on rice and beans to retire early. He lives in New Jersey to avoid city taxes, takes only rice and beans, wears a patched suit for work and tries to save money in every possible way.
By doing this, he is saving 70 percent of his salary. He has saved more than $400,000 and is going to retire in three years. Being content by having the things that meet the needs and rejecting the luxurious is the key here. Frugality is important to achieve the dream of a person to retire early. Many millionaires told that living on less helped them to become rich. Even the people who are not getting high pay can also do it by being frugal.
Most of the world's rich people won't live in luxurious houses and they won't have expensive cars too. For them, house is for shelter and car is a vehicle to reach their destination, but not a matter of prestige! Spending above your requirement, without saving for retirement will make you slave to the pay-check, many rich people opine.
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