"I watched my bank account grow" Ukrainian retires at 32 - now he lives in paradise
Naz Avo worked as a software developer - today he lives as an early retiree in Thailand. With a strict savings strategy, the 32-year-old has achieved what many only dream of: financial freedom.
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- Ukrainian Naz Avo achieved financial independence at the age of 32 and moved to Thailand.
- He consistently saved 60 to 70 percent of his income and invested the rest.
- The method known as the Fire Principle is controversial - for him, it was the key to success.
As the British newspaper "The Sun" reports, the Ukrainian Naz Avo has already reached retirement at the age of 32 - and now lives in the northern Thai city of Chiang Mai. His way there: consistent saving, smart investing and a minimalist lifestyle.
The former software developer began setting aside up to 70 percent of his income in his twenties. "I found out that if I lived like a student but earned a developer's salary, I could invest 60 to 70 percent," says Avo.
He joined the FIRE movement (Financial Independence, Retire Early), which aims to retire decades earlier through extreme savings rates and long-term investments. FIRE adherents calculate their so-called "magic number" - usually 25 times the annual cost of living - to know when they will be financially independent.
"I watched my bank account grow"
Avo worked for a US software company and took advantage of the opportunity to work remotely. He lived in countries such as Poland, the USA, Dubai, Spain, Malaysia and New Zealand - always where life was cheaper. His monthly expenses were between 1,500 and 2,000 US dollars, while he invested the rest in ETFs, bonds and shares.
"I lived modestly and watched my bank account grow," he recalls. Avo now owns two apartments, in Ukraine and Poland, which he rents out as Airbnb accommodation. This rental income and the earnings from his portfolio finance his everyday life.
His current home in Thailand costs him around 500 US dollars a month - including cleaning, gym, pool and 24-hour security. "In London, the same apartment would cost 3,000 pounds," he says. Luxury hardly plays a role for him these days: "I don't want to be owned - the more you own, the more it owns you."
Avo also benefits from Thailand's territorial tax system: foreign income is not taxed. "My portfolio is growing faster than someone living in Germany or the UK," he explained.
Today he does yoga and goes surfing
When he reached his "magic number", Avo quit his job. His employer tried to keep him - without success. He celebrated the transition to the new phase of his life with a five-day festival in Bangkok.
Today, he spends his days doing yoga, surfing and jiu-jitsu. The first few weeks of freedom were unusual, he says: "We are creatures of habit - my work rhythm was suddenly gone. It took three months for my mind to really switch off."
In the meantime, he has started a new project: Feedback Pulse, a digital survey tool for companies. He only works on it when he feels like it. "I guess I've become unemployable," says Avo with a laugh.
His advice to anyone dreaming of early retirement: "You have to set yourself goals early, save consistently and invest in yourself - the rest will take care of itself."
