A data scientist, Yaron Goldstein, achieved early retirement before turning 40 through diligent financial planning.
Graduating with a PhD in computational and applied mathematics in 2012, he embarked on a career spanning Boston Consulting Group, Google, and Meta.
During an internship in New York City, he encountered a Wall Street investment advisor who became an influential figure in his life.
Following the advisor's recommendations, including reading books such as Tim Ferriss's "4-Hour Workweek" and Malcolm Gladwell's "Outliers," Goldstein began contemplating the intersection of happiness and financial independence. This prompted him to envision a future not consumed by a traditional career.
'This guy is making quite a good case for: Maybe 40 years from now, I don't want to be the guy who focuses his whole life on doing a career,' he told Business Insider about his reaction to Ferriss's book.
From the onset of his professional journey, Goldstein prioritized financial security, setting €5,000 ($5,460) per month as his retirement income target.
Starting with modest savings during his post-doctoral tenure at Freie Universität Berlin, he gradually increased his savings rate upon joining Boston Consulting Group, allocating up to €1,500 ($1,638) monthly.
Goldstein adopted a frugal lifestyle, scrutinizing every expense to ensure maximal savings. Instead of indulging in daily Starbucks visits, he opted for high-quality tea, finding it both economically and personally satisfying.
'Even if I buy luxury tea, which is $50 per 50 grams, at the end of the month, it's still cheaper than going to Starbucks every single day and getting coffee,' Yaron said.
His reliance on public transport in Zurich and Berlin eliminated the need for car expenses.
Additionally, Goldstein made astute investment decisions, notably investing heavily in Tesla stock in 2016. After a decade of disciplined saving and investing alongside full-time employment, he retired in May 2023, adhering to the principles of the "financial independence, retire early" (FIRE) movement.
Despite achieving financial independence, Goldstein continues to prioritize financial prudence, aiming to further reduce his withdrawal rate below the standard four percent. His journey exemplifies the possibility of redefining success beyond conventional career paths.
