Indian Ph.D. Graduate Achieves Financial Independence at 29
At just 29 years old, an Indian Ph.D. graduate has achieved financial independence and retired early. After completing his Ph.D. at the age of 24 in 2018, he worked at Google X, leading AI projects. Subsequently, he held a VP role at JP Morgan until 2023. By aggressively investing his income in stocks, he surpassed $1 million in his late 20s. With yearly expenses of less than 2% of his investments, he made the decision to retire and pursue his passion for building his startup, ThirdEar AI.
Here are the key factors that enabled him to achieve financial independence:
1. Avoiding Educational Debt: Growing up in Kerala, India, where his parents made less than $20,000 a year, he couldn’t afford an undergraduate education in the US. Instead, he studied at a government college in India, making it much more affordable. Through hard work and ranking among the top 0.1% on a college admission test, he earned the opportunity to study engineering and physics at the prestigious India Institute of Technology Bombay. Opting for a Ph.D. program at the University of Illinois instead of pursuing a costly master’s degree, he received a tuition fee waiver and monthly stipend.
2. Aggressive Stock Investing: While earning his Ph.D., he made a side income through part-time work and summer internships at tech companies. Initially, his savings sat in a bank account earning negligible interest. However, in his final year, he began investing in stocks, focusing primarily on the tech market. Upon starting at Google X, he invested all his savings, spending less than 10% of his compensation and ensuring that every dollar after taxes went into the stock market.
3. Strategic City Choices: Working in expensive cities such as San Francisco, New York, and Seattle allowed him to take advantage of higher compensation. By keeping expenses low, he could rapidly accumulate savings. However, his long-term plan was to move to areas with significantly lower living costs to maximize the value of his savings.
4. Effective Pay Negotiation: Recognizing the importance of negotiating pay, he worked on acquiring multiple job offers and learning negotiation strategies. This approach paid off when JPMorgan approached him, resulting in nearly double the initial compensation offered.
5. Finding a Like-Minded Partner: Meeting his wife at Google X proved to be influential in his early retirement journey. Sharing similar goals, they each invested their savings separately and adopted a minimalist lifestyle. This mindset and financial compatibility allowed them to split expenses equally and prioritize experiences over material possessions.
Achieving financial independence at a young age requires a combination of smart financial choices, strategic career moves, and a supportive partner. This Indian Ph.D. graduate serves as a role model for those aspiring to follow a similar path.
Analyst comment
This news can be evaluated as positive. The Indian Ph.D. graduate’s achievement of financial independence at a young age is inspiring and showcases the potential for success through strategic planning and smart financial choices. As an analyst, it is likely that this news will have a positive impact on the market, as it highlights the potential for individuals to achieve financial independence and early retirement through investment and career opportunities.
