Meet man, IIT Bombay graduate, who gave up high paying job at Google, joined world’s largest bank, later took retirement at 29 because….; now is…

To reduce his tax burden, he focused on maximizing his retirement accounts and kept his expenses below 10 per cent of his salary.

New Delhi: In the late 20’s, many individuals focus on working hard to fulfill their career goals and secure a stable future. However, for some people, this is the time when they begin thinking about long-term goals, including financial stability, and might even consider early retirement planning if their career path allows it. One such individual is Daniel George, an IIT Bombay graduate, who worked at Google and JP Morgan and later took retirement at… due to…Read his story below.

Although the idea of saving enough money to retire by 29 might seem unbelievable to many, IIT graduate Daniel George has turned that unusual dream into reality. At just 24, George decided on early retirement. By then, he had finished his summer internship and secured a position at tech giant Google in 2018, with a reportedly staggering salary of $265,000 (around Rs 2.2 crore) annually.

Meet man, IIT Bombay graduate, who gave up high paying job at Google, joined world’s largest bank, later took retirement at 29 because….; now is…

Daniel George, who completed his bachelor’s degree in engineering physics from the Indian Institute of Technology (IIT) Bombay in 2015, mentioned that he had run the numbers and realized that after saving for a few years, he could easily return to India and retire if he wished. Now, at 29, it is said that the AI expert has accumulated enough wealth to no longer worry about earning a salary and can choose to retire whenever he desires.

The IIT Bombay graduate mentioned how he was able to save such a huge amount of money in his 20s. It all began with his well-paying job at Google in 2018. IIT Bombay graduate Daniel George was quoted as saying, as per a Business Insider report, “Working for Google X was my dream job. It was like working in a magical fairyland. There was unlimited food and drinks and amazing facilities, including ping-pong tables, video-game rooms, soccer fields, a gym, tennis courts, and free massages in the office.” He further said, “After a year at Google, I started teaching myself more about finances and taxes. I was making more money than ever before but paying nearly 50 percent in taxes.”

A year into his career, George became interested in finances and taxes, realizing that nearly half of his income went to taxes. To reduce his tax burden, he focused on maximizing his retirement accounts and kept his expenses below 10 per cent of his salary. Instead of indulging in luxury, he chose frugal options, such as walking or biking to work, sharing an apartment to cut rent costs, and taking full advantage of Google’s free meals. According to his LinkedIn profile, he studied Master of Science – MS, Astronomy and Astrophysics at the University of Illinois Urbana-Champaign.

Through consistent saving and investing a significant portion of his earnings, George was able to contribute over $75,000 annually to tax-advantaged accounts. By 2020, he had accumulated enough wealth to contemplate early retirement. However, after meeting his future wife, an AI scientist at Google as well, he chose to remain in the US and focus on further growing his wealth.

Later in 2020, George joined JP Morgan to lead applied AI projects. This move effectively doubled his income. Despite his increased earnings, George remained committed to living modestly.

In August last year, at the age of 29, George made the bold decision to leave his role at JP Morgan and co-found ThirdEar AI, a startup. With a solid financial foundation and passive income from his early investments, he felt ready to embark on his entrepreneurial journey. George believes that his investment strategy has given him the freedom to pursue his passions without the worry of relying on a paycheck. As he and his wife look ahead to their future, including the possibility of starting a family, he is confident that their investments will generate enough income to cover their expenses.