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In early retirement at 32: This is how Naz Avo lives in the paradise of Thailand!
Naz Avo, 32, lives in Chiang Mai, Thailand, achieves financial independence through the FIRE principle: saving, investing, living a minimalist life.
In early retirement at 32: This is how Naz Avo lives in the paradise of Thailand!
Financial freedom seems out of reach for many, but Naz Avo has achieved it. At just 32 years old, the former software developer lives in Chiang Mai, Thailand, and enjoys the benefits of financial independence. He owes this lifestyle to the F.I.R.E. movement, which stands for “Financial Independence, Retire Early” and aims to retire as early as possible. Savings and investments play a central role in this, as Kapitalcheck.de explains.
To achieve his goals, Naz saved 60 to 70 percent of his income and invested wisely. During his time as a software developer for a US company, he lived in different countries to keep the cost of living down. Today he says his monthly expenses in Thailand are just $500, which allows him to invest more. Particularly important is Thailand's tax regime, which does not tax foreign travel, which gives Naz additional financial leeway.
The path to financial independence
A key factor in Naz's success was the accurate calculation of his "magic number," which served as a benchmark for when he would achieve financial independence. Following the principles of the FIRE movement, it is often necessary to save 50 percent or more of one's income. This requires discipline and a minimalist lifestyle to avoid unnecessary spending, which, as Changejournal.com describes, many followers also find an enriching experience.
In addition to his modest lifestyle, Naz invests his money in ETFs, bonds and stocks. He also rents out two apartments in Ukraine and Poland via Airbnb, which gives him an additional source of income. He is also no stranger to the idea of minimal consumption; Avoiding unnecessary things not only has economic benefits, but also brings less stress and an improved quality of life, as the FIRE principles provide.
New life – new projects
After achieving financial independence, Naz quit his job and celebrated this important step with a festival in Bangkok. He enjoys his free time and now engages in activities such as yoga, surfing and jiu-jitsu. At first it was a challenge to break away from the world of work, but he has now settled in well. He has also launched a new project: Feedback Pulse, a digital survey tool for companies that he only works on when he feels like it.
His advice to others who also dream of financial freedom? Set goals early, save consistently and invest in yourself. These tips are also reflected in the foundations of the FIRE movement, which clearly emphasizes long-term planning, budgeting and strategic investing.
The journey to financial independence may be challenging, but with the right strategy – saving, investing and reducing spending – it can become a reality for many. Naz Avo is an impressive example of how you can shape your own future with commitment and a solid plan, as Bluewin.ch reports.