News

December 29, 2023

SHARE:

In the pursuit of early retirement, Francis, a 42-year-old electrical engineer, made headlines when he quit his job in 2017 with a substantial $1.2 million in savings and investments.

At the time, he embraced the FIRE (Financial Independence, Retire Early) movement, a concept that advocates for financial freedom and early retirement. However, Francis’s unique journey and subsequent return to work shed light on the misconceptions surrounding the desire for complete retirement.

According to CNBC, upon leaving his engineering role, where he earned a $120,000 base salary plus additional equity and bonuses, Francis discovered that a life without work became “really boring.” Contrary to the belief that most people aspire to retire early, he contends that what individuals truly seek is a sabbatical or extended break from their careers, typically lasting a year or two.

Image Source: CNBC

He had $1.2 million in savings and investments when he quit his job, and he shared that the trick to getting there was spending as little money as possible. First, he paid off his house, which cost $22,000 a year. Then, he tried hard to spend as little money as possible on everything else. 

He cut out things like streaming services and even went without a cellphone for a bit. Francis is also really good at using credit cards to get points, and he has more than 20 of them at a time. This helps him get extra value for his money.

Even though he enjoyed two years of not working and traveling, Francis got a bit bored and decided to start working again in 2019. But this time, he focused on his YouTube channel with 350,000 followers, making videos about money topics. It turns out people loved it, and he now makes around $10,000 a month from YouTube. This money covers his living costs, and whatever is left goes into his savings.

“Now I no longer call myself ‘retired’ because I am putting in my full-time effort into YouTube,” Francis shared to CNBC. “I’d like to put a lot more work into it and grow it … I think it’s a work in progress.”

Featured Image Source: CNBC

Related Articles

Image Source: Ricci Chocolates & Michiko Liquete Facebook

Uncategorized

Mom Without Prior Baking Experience But Through Perseverance Finds Success With Homemade Chocolates

Despite having zero experience in baking, this mom entrepreneur was able to give birth to Ricci Chocolates, now branded as the “Home of the Best Tasting Truffles in Baguio City, Philippines” 

Mitchiko Liquete clarified that she is a dessert lover but never a chocolate fanatic. Initially having no interest in making desserts nor in cooking, she capitalized on believing in herself with the vision of making her products look off-the-peg.

To better her craft, Mitchicko heeded the DTI’s Kapatid Mentor ME (KMME) free online training program in September 2022 to learn about branding and marketing while in a ‘hit and miss’ process in chocolate-making, which she considered as a great help for business-starters like her. 

Mitchiko’s 100% homemade premium chocolates got 20 to 30 boxes of sales per day that eventually reached over and above 2,000 to 3,000 packs weekly and enabled the company to supply more than 100 resellers and distributors nationwide.

The success of Mitchicko’s purely hand-crafted, first-class, and domestically produced chocolates paved the way for opening four stores and actualized $17,000 income in one year alone making Mitchiko more than proud.

She plans to expand her sweet business by making Ricci Chocolates visible in every mall in the Philippines.

Image Source: Plant Habitat Facebook

Uncategorized

This Filipino Millennial Started With $20 To Pursue Hydroponics Farming Business

Nothing is impossible for this 21-year-old Filipino who engaged in modern farming with only $20 as a starting capital.

Despite being dissuaded by his grandfather who wanted him to become an engineer, Harold Zapata was determined to uplift farming, recognize farmers, and attest that farmers are the providers of our staple food and without them, it would be challenging for us to live.

As a farmer, his grandfather believed that farming is tantamount to poverty which made him influence his grandson to pursue a different profession.

However, the farmer’s blood runs in Harold’s veins, with Harold’s minimal capital and resourcefulness, he initially started hydroponics farming using used styrofoams which he asked from vendors in their local market.

Unlike traditional farming, hydroponics farming is cheaper as it is a type of farming where plants are grown in water and not in soil and a farmer would spend money only on styro cups, coco peat, feeds, and nutrients.

As a beginner, he only had a miniature greenhouse that could hold 80 pieces of lettuce and made him earn as much as $300 a month, which gradually allowed him to expand his business.

Harold’s hobby-turned-business serves him as a source of income not only from the harvests but from offering for-sale seedlings, building greenhouses, and providing consultations with his customers.

He also exclaimed that pursuing one’s interest unlocks many possibilities and that farming also teaches life lessons.

Image Source: Boy Isaw Instagram

Uncategorized

Hard Work Pays Off For Bringing Filipino Street Food “Boy Isaw” To New York, Now Makes 14$K A Month

The Filipino street food vendor admits that perseverance and hard work were really his main capitals in achieving his dream.

After introducing one of the most popular Filipino barbeque street food, “ihaw-ihaw,” especially the isaw (grilled chicken or pork intestines), to New York, Filipino street food seller Robin John Calalo has seen the fruits of his labor, earning more than $14,000 each month.

His shop, “Boy Isaw,” became well-known among fellow Filipinos and even foreigners who yearned for a taste of isaw, betamax (coagulated chicken blood), adidas (chicken feet), and other Filipino street food. 

Robin’s success came as a surprise considering that his small firm only had $50 when it was founded in 2019, during the onset of the pandemic. He claims that while in the supermarket, he suddenly made the decision to open his BBQ food cart due to a craving for Filipino food with his friends and family as the first customers.

According to Business News Philippines, Boy Isaw peddles in food bazaars and engages in online selling where he posts for-sale ready-to-grill street foods.

Aside from grilled food including hotdogs, chicken, and others which he posts on his Instagram, he also serves rice and chicharon bulaklak (deep-fried pork intestine) which is also a bestseller.

Image Source: Jane Nguyen / NBC News

Uncategorized

Kenneth Mejia Sits As Los Angeles’ New and First Filipino American City Controller

Taking the lead with a 21-point advantage, Kenneth Mejia, is now Los Angeles’ newly-elected City Controller assuming city-wide office after cutting the edge against City Councilmember Paul Koretz.

The 32-year-old is the first Filipino American to take the position. As a CPA and community militant, Mejia is pleased to embody the distinct community of L.A.

“We have a very diverse population in L.A. and I feel very proud and honored to represent that community and coming from a minority background makes you more empathetic about the people you’re fighting for,” Mejia said as quoted in NBC News.

He achieved a double-sweeping win after attaining more votes than any mayoral candidates and concluding the election with over 100,000 votes higher than Koretz, a radical and experienced public officer, which accordingly is a sign of many Angelenos’ renouncement of the status quo.

Mejia was also once an organizer of the L.A. Tenants Union who initiated the legalization of homelessness and made the concerned authorities liable for it.

The newly-elected City Controller mentioned that he eyes transforming the system and making it worker-friendly. He likewise shared that a controller is “the city’s accountant and paymaster,” which is different from high-profile City Council positions since he cannot promulgate a legislation or amend the city budget. These restrictions fit him wonderfully as a CPA and organizer, making his work more intriguing.

“You don’t really have to push an agenda when you’re running to present data and show numbers,” Mejia continues, “They have a story in themselves,” he added.

After the City Council decided to ban homeless encampments 500 feet from schools and daycare centers, Mejia calculated how many camps will be affected and created a digital map of 1,900 schools and daycare centers in the city, showing that 20% of the walkways would no longer be available as a campsite. Mejia’s staff employed computer technology to be more transparent to the public, especially regarding finances.