I'm retiring from my tech job at 31. A Coast FIRE lifestyle and side hustles will make me a millionaire in my 60s.

Business Insider

23-04-2025

This as-told-to essay is based on a conversation with Elena Kodama, a 31-year-old software engineer in Cambridge, Massachusetts. It has been edited for length and clarity.
I started my career in 2017 as a contractor and software engineer.
I recently decided, at age 31, to soon quit my six-figure job as a software engineer to pursue a Coast FIRE lifestyle and spend more time with my family. I'm married and have two children.
Saving aggressively in my 20s is what will allow me to do this.
With a Coast FIRE plan, I no longer have to work full-time
Coast FIRE is a version of financial independence combined with a retirement savings strategy. It's about easing up, stepping away from high-pressure careers, and living on your terms. With this method, you continue working part-time at a job you love.
I first learned about it while attending the Rose-Hulman Institute of Technology. It's essential to learn about personal finance early and start saving so you can benefit from compound interest when time is on your side.
Once I started working, I maxed out my Roth IRA and 401(k), saving about $100,000 in four years. Throughout my 20s, I saved and invested about $150,000 total.
With the power of compounding at a conservative 5% annual growth rate, I only need to contribute around $12,000 a year for the next 30 years to reach over $1.5 million in retirement funds and fully retire in my 60s.
A side hustle will help me reach my yearly savings goal
In 2023, during my first 18-week maternity leave, I started a reselling side hustle, purchasing products on sale and selling them for a profit on Amazon. Finding the optimal product to sell is a lot of trial and error.
In the beginning, I went into stores to find profitable products. After weeks of market research, I learned that you can get 50% ROI on a specific brand of shoes. Based on that, I niched down product categories and brands.
Then, I would purchase sneakers online during sales and resell them on Amazon for full price. I use an app that provides data such as product sales estimates and the number of sellers.
I was privileged to have plenty of help with my newborn, including a work-from-home husband, parents, and in-laws who would switch off babysitting. This allowed me to invest enough time to master this new side hustle.
I scaled the business to over $200,000 in revenue within a year, with a net profit of $14,000.
My business has expanded to YouTube
In 2024, I shared my reselling story on YouTube, and it went viral, gaining over 2 million views and 50,000 subscribers. This led me to join the YouTube Partner Program, where I create one to four videos a month and earn around $500 monthly from YouTube AdSense.
Along with my reselling business, this generates enough income to cover living expenses and the $12,000 I contribute annually toward my retirement fund. I currently earn between $2,000 and $5,000 a month as an entrepreneur.
My husband's 9-to-5 job covers our family's health insurance and mortgage. His income is in the low six figures, and he enjoys his job, so he isn't looking to retire early. I pay for all the other bills, like utilities and groceries.
I plan to quit engineering for good this summer
I've worked as a software engineer at Tulip Interfaces for almost four years and will officially leave when my maternity leave ends to embrace freedom and flexibility. I like my job but don't prefer working for a company. I want to work for myself at my leisure.
I'm on my second maternity leave and focused on creating content and launching new side hustles while spending more time with my family.
Early retirement will bring freedom
For me, retiring means having the freedom to do anything I want. I won't sit at home and do nothing as a retiree. My hobby is starting new businesses, learning, and sharing my knowledge.
I'm focused on testing different businesses, such as an AI automation agency, and launching additional e-commerce businesses. My core business currently focuses on content creation from YouTube.
Ultimately, I want to travel around the world with my family.
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