Tag: finance business

Are you interested in early retirement? Today, I have a great interview with Kristy Shen, who retired with $1,000,000 at the age of 31.

You probably know Kristy from the blog Millennial Revolution. Millennial Revolution is a popular early retirement resource, so I’m excited to share this interview with you on how she reached early retirement.

In this interview, you’ll learn:

• How they calculated how much money to save
• What made them want to retire early
• Whether they live comfortably or not
• How much time they spend traveling
• The careers they had before early retirement
• The sacrifices they had to make

And more!

This interview is packed full of valuable information on reaching early retirement.

Enjoy!

Related content:

1. Tell me your story. Who are you and what do you do? Can you go into detail on how much you saved for early retirement, how you chose that amount, etc.?

We are Kristy and Bryce, and we are world-traveling early retirees, having left the rat race in our early 30s back in 2015.

We were both working as computer engineers, but after almost a decade of trying to follow the “traditional career path” of buying a house and working until we’re 65 to pay it off, we realized that those old rules didn’t really work for our generation and we tried something different.

So we saved and invested our money instead, and when our portfolio hit $1,000,000, we retired and never looked back.

2. Can you explain how early retirement

Filing for bankruptcy is never an easy choice.

But sometimes, it can feel like the only way to escape the vice grip of debt and move on with life.

Most personal bankruptcy files will turn to a Chapter 7 bankruptcy, which offers almost total debt forgiveness and a quick discharge time.

But before you can get a fresh start from a Chapter 7 bankruptcy, you should know the basics — and what to expect from the bankruptcy process.

What Is Chapter 7 Bankruptcy?

In researching your options, you’ll find there are two common types of bankruptcy for individuals and couples: Chapter 7 and Chapter 13. While similar in many ways, they differ in some big areas.

Chapter 7 bankruptcy, also known as “liquidation bankruptcy,” is a bankruptcy by which individuals or couples who are deemed to not have a high enough income to pay back debts can absolve themselves through liquidating their assets. You can include both secured debts and unsecured debts.

If the liquidation doesn’t cover the entire debt, then the remaining balance is typically forgiven.

Chapter 13 bankruptcyalso known as “wage-earner bankruptcy,” is for those whose income or other qualifiers make them ineligible for Chapter 7.

These individuals or couples will work with a trustee to create a payment plan lasting three to five years to repay most of their debt, and they won’t have to liquidate any assets unless they choose to.

Of the two, Chapter 7 is by far the most popular. Here’s how

The employment landscape shifted drastically over just a few short years. The pandemic showed us that most of today’s non-blue-collar jobs can be done remotely and the subsequent economic turmoil showed how fragile relying on traditional employment is. These and a few other factors combine to demonstrate to many Americans that:

1. You don’t have to work under a conventional corporate structure.
2. You don’t necessarily need to be a stereotypical small business owner with a storefront or eCommerce site.
3. You can get paid while working anywhere in the world if you have in-demand skills.

The natural outflow from this series of realizations is the power of freelancing. Freelancers can harness skillsets from education or past work experience, effectively market those skills to clients, and maintain a steady income while working from home or traveling. It’s a surprisingly practical reality for many Americans — believe me, I know.

Post-pandemic, I was dissatisfied with my job and career trajectory. I had an advanced degree in finance, but my talents were underused. At the same time, I worked under a series of bosses of questionable intellect and ability. So, I pulled the trigger and left my job. I had enough cash on hand to float. At the same time, I looked for a full-time remote position before I realized: “I’m skilled and credentialed — why should I look for another salaried position where I’m dependent on the whims of others?”

So, I broke into freelancing.

It wasn’t easy initially, but I learned many valuable