- Grant Sabatier turned $5 to $1.2 million in 5 years, and believes $70k earners can retire in 10 years by saving.
- Sabatier's key steps; reduce housing costs, start a side hustle, stay motivated – focus on progress, not sacrifice.
- A new wave of value and momentum stocks could be setting up for major moves—and Tim Melvin will name them live this Wednesday. Secure access here.
This story is part of a new series of features on the subject of success, Benzinga Inspire.
In 2010, 24-year-old Grant Sabatier found himself living with his parents, unemployed and with only $5 to his name.
A sudden realization led him to set an ambitious goal: Earn $1 million and retire early. Today, Sabatier believes anyone making at least $70,000 per year can achieve financial independence in just a decade.
Sabatier, founder of Millennial Money, hustled his way to an income of over $300,000 per year through multiple income streams. He also saved 80% of his earnings.
Sabatier, now 38, was able to reach his goal in just over five years, amassing a savings of $1.2 million.
His advice for those seeking early retirement: Consistently save 50% to 70% of your income. This may require lifestyle changes, but the self-made millionaire emphasized that saving is an opportunity, not a sacrifice. Living frugally for a few years can pave the way to financial freedom.
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To retire within a decade, Sabatier suggests three key steps:
- Reduce housing expenses: Housing is often the largest monthly expense. Lowering housing costs by living in a more affordable space, having roommates, or renting out a spare room can significantly impact savings and shorten the path to retirement.
- Launch a side hustle: While there's a limit to cutting expenses, earning potential is limitless. Sabatier recommends making extra money and investing it, as each additional $1,000 earned and invested can shave months off the time needed to retire.
- Stay motivated: Maintaining motivation is crucial for those pursuing early retirement. Sabatier suggests gamifying savings, tracking progress daily, and celebrating milestones to keep enthusiasm alive.
Photo: Generated with AI using MidJourney
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