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☆ A Gen Xer who retired early at 34 returned to work a decade later. He only lasted 4 months.
▼ + stars: | 2024-08-07 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

Sam Dogen, 47, retired from his corporate job in 2012 and achieved FIRE status — an acronym for financial independence, retire early — but over a decade later, he returned to the office. Dogen wanted to return to work for extra income as his children got older and to contribute more to the Silicon Valley startup scene. He got a job as the head of content at a startup, where he wrote articles and newsletters. But within a few weeks, he already knew the job wasn't working out. He decided to leave his position and go back to being a stay-at-home dad — essentially retiring early for a second time.

Persons: Sam Dogen, Little, Dogen, Slack, —, you've, renegotiating, microaggressions, would've, he'd, I've Organizations: Service Locations: San Francisco

☆ 'Never quit your job,' says early retiree and self-made multimillionaire: Do this instead
▼ + stars: | 2024-08-04 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

If you're considering leaving your job, here's Dogen's best advice to follow in his footsteps. That he stayed only four months at the new gig is its own story — but it's also worth noting that by leaving so abruptly, he bucked a piece of his own advice: "Never quit your job," Dogen says. How you manage leaving your job is going to depend on your specific circumstances. If you're willing to do something similar, "more often than not, your employer will work with you — especially if you're a better than average employee," Dogen says. Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life.

Persons: here's, Dogen, it's, He'd, I'm, there's Organizations: CNBC

☆ A millionaire early retiree earning $380,000 a year in passive income went back to work—but only lasted 4 months
▼ + stars: | 2024-08-02 | by ( Ryan Ermey | ) www.cnbc.com time to read: +2 min

Last year, after selling a chunk of his stock and bond portfolio to purchase a house in cash, Sam Dogen found himself with too little passive income to support his family's budget. It turned out, this particular gig didn't align with his personal or financial priorities at this point in his life. By last year, his passive income portfolio, which includes stocks, bonds and real estate investments, among others, was bringing in about $380,000 a year. "That shored up a huge hole in my passive income," Dogen says. That won't produce passive income unless Dogen reinvests it, but it gave him the cash cushion to paper over some short-term cracks in his finances.

Persons: Sam Dogen, Dogen Locations: San Francisco

☆ A couple who achieved financial independence and retired in their 30s shares their $280,000 a year budget raising 2 kids in San Francisco
▼ + stars: | 2024-06-16 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +8 min

AdvertisementHow a FIRE family budgetsIn 2012, Dogen reached financial independence after 13 years in banking, predominantly in San Francisco. His wife retired in 2015 at 35 and worked part-time until they had their first kid. Other family expenses include $7,800 for three family vacations, $6,000 for entertainment, including sporting events and social functions, and $4,200 for baby items. He also said he feels safer as an Asian American in San Francisco than in many other parts of the country. He's itching to "fill that void" with part-time consulting work in the tech or startup industry, hoping to get more involved with AI companies in San Francisco.

Persons: —, Sam Dogen, haven't, Dogen, Uber, should've, they're, I'm, he's, it's, Dogen didn't, didn't, you've, I've Organizations: Service, Business, FIRE, Bay Area, Uber Locations: San Francisco, American, Memphis, Houston, Bay

☆ A financially independent couple with 2 kids shares how they both retired by 35 and haven't returned to the office since
▼ + stars: | 2024-06-13 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

Dogen and his wife are FIREs — financial independence, retire early — who make it work with two kids in one of the US's most expensive cities. I'm only 35 years old, leaving a well-paid job behind, losing so much money," Dogen said. They upped their savings rate and tried to maximize passive income during those years. "One of the interesting phenomena you'll see in the FIRE space is how a man will proclaim he's retired early, but he'll have a working wife," Dogen said. She returned to the company after a few months, making more in a part-time position than she did working full-time.

Persons: Sam Dogen, Dogen, —, monetizing, he's, she's, it's Organizations: Service, San, Business, FIRE Locations: New York City, San Francisco

☆ I retired in my 30s with a net worth of $2.5 million over a decade ago. Now, I'm going back to work at 46.
▼ + stars: | 2024-06-12 | by ( Lauren Crosmedlicott | ) www.businessinsider.com time to read: +8 min

Read previewThis as-told-to essay is based on a conversation with Sam Dogen, a 46-year-old in San Francisco. It was easy to save money because I was working so muchI started saving only a month after starting at Goldman Sachs. A promotion and move to San Francisco got me on the property ladderIn June 2001, I was recruited to join Credit Suisse and moved to San Francisco. In 2005, I bought a house for $1,520,000 in San Francisco and rented my condo until I sold it in 2017. Having kids took up a lot of our passive income budgetOnce our son was born in 2017, we began spending more of our passive income.

Persons: —, Sam Dogen, I'd, Mary, Goldman Sachs, San Francisco, I've, I'm Organizations: Service, Business, College of William, San, Credit Suisse Locations: San Francisco, Virginia, USA, Manhattan

☆ Japan launches bullet train service to a region that 'guidebooks rarely mention'
▼ + stars: | 2024-03-15 | by ( Rob Goss | ) www.cnbc.com time to read: +4 min

Japan is launching a new high-speed bullet train, or shinkansen, extension on Saturday that will make an under-the-radar prefecture far more accessible to travelers. The new train will pass through the city of Fukui, the town of Awara and other places guidebooks rarely mention, before reaching the port town of Tsuruga, adding some 78 miles to the Hokuriku Shinkansen's existing Tokyo-to-Kanazawa service. A Geisha walks through a performance hall in Awara, Japan. The end of the lineThe new shinkansen service ends in the town of Tsuruga. Kehi-no-Matsubara in Tsuruga, Japan.

Persons: dino, Juratic, Dogen, it's, Buddhika Weerasinghe, Arief, Sugihara Chiune, Sugihara, Matsuo Basho Organizations: Fukui Prefectural Dinosaur Museum, Zen, Getty, Humanity Museum, Mixa Locations: Japan, Fukui Prefecture, Tokyo, Fukui, Awara, Tsuruga, Kanazawa, Katsuyama, Kanaz, Suishouhama, Poland, Lithuania, Nazi

☆ This early retirement strategy is 'delusional thinking,' says multimillionaire who retired at 34
▼ + stars: | 2024-02-15 | by ( Ryan Ermey | ) www.cnbc.com time to read: +3 min

Sam Dogen is one of the pioneers of the FIRE movement — short for financial independence, retire early. "It's having enough in investments and passive income to cover your basic living expenses," Dogen says. By the time he left his investment banking job in 2012 at age 34, Dogen had exactly that — $80,000 a year in passive income, plus a $3 million net worth. If you think you can live on $40,000 a year, multiply by 25, and you need to save $1 million. Under Dogen's model, you haven't achieved FIRE until you've saved the $1 million, built $40,000 in annual passive income, or some combination of the two.

Persons: Sam Dogen, Dogen, you've, haven't Organizations: FIRE

☆ Early retiree who earned $380,000 in passive income last year: Your 'best option' for making money while you sleep
▼ + stars: | 2024-02-05 | by ( Ryan Ermey | ) www.cnbc.com time to read: +3 min

Sam Dogen is the author of "Buy This, Not That"Sam Dogen knows a thing or two about passive income. By reinvesting his passive income along with money he made through his website and book sales, Dogen was able to boost the family's income over the years as well. In 2023, Dogen's passive income portfolio, which includes stock, bond and real estate investments, among others, generated about $380,000. According to Dogen, the best way to begin earning passive income is through your brokerage account. "If you want passive income right now, I think the best option is Treasury bonds at 5%," he says.

Persons: Sam Dogen, Dogen, Stocks Organizations: U.S ., Treasury Locations: San Francisco

☆ 46-year-old early retiree who had $380,000 a year in passive income heads back to work—here's why
▼ + stars: | 2024-02-03 | by ( Ryan Ermey | ) www.cnbc.com time to read: +1 min

That's the year that Dogen quit his job as an investment banker, having spent 13 years working, saving, investing and generally burning himself out. Over the years, Dogen built his passive income streams to about $380,000 annually — $288,000 net of taxes. That was enough to cover the family budget while living in San Francisco — until now. By swapping income-producing assets for a house, "I basically have a lot more dead money now," Dogen says. That means his passive income streams no longer cover his family budget — so back to work it is.

Persons: Sam Dogen, Dogen, We've, San Francisco — Organizations: CNBC Locations: San Francisco

☆ I bought a bigger house, and the buyer's remorse hurts. My family didn't need it, but I still think it'll be worth it.
▼ + stars: | 2024-02-02 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +9 min

I didn't want to buy the house in 2024 because I think bidding wars are going to return — because mortgage rates will come down. I don't think about it as trying to make a profit anymore. You want to save as much as possible, invest as much as possible, which creates a more lean and frugal lifestyle so you can retire early. But do you really want to live a lean lifestyle — and then retire early to a very lean and frugal lifestyle? Rental properties were what gave me the courage to retire early, along with negotiating a severance package in 2012.

Persons: —, Sam Dogen, It's, Dogen, I've, I'm, it's, you've Organizations: Service, Business, San Locations: San Francisco

☆ All smoke and no FIRE: Early retirees open up about the struggles of ditching their paychecks in exchange for freedom and the new ways they're generating extra income
▼ + stars: | 2023-09-13 | by ( Laila Maidan | Kathleen Elkins | ) www.businessinsider.com time to read: +14 min

Members pose questions from how to save and invest to how to raise a family while on the path to early retirement. Early retirement doesn't mean never working againBut the FIRE movement can be more smoke than fire. Think about what's important to you and what you want your lifestyle in early retirement to look like, Cheng said. One message he shares with his community is that early retirement may not be the ultimate finish line for everyone. He also started coaching high school tennis and grew his online blog that offers tips on early retirement.

Persons: Rachel Covert, Isaac Mizrahi, Covert, That's, subreddit, Gwendolyn Merz, Merz, She'd, Marguerita Cheng, Cheng, It's, Michael Quan, Quan, Winnie Jiang, Sam Dogen, Dogen, Sam Dogen Dogen, Shan Fu, Fu, I'm Organizations: Financial Independence, Social Security, Lean FIRE, FIRE, Fortune, Bureau of Labor Statistics, Credit Suisse, Millennials Locations: NerdWallet, New York City, Mexico, Portugal, Asia

☆ A millionaire who retired at 34 made over $7,000 in passive income in one month from stocks and bonds. He explains how he built a $2.9 million account that pays his expenses while it continues to grow
▼ + stars: | 2023-09-09 | by ( Laila Maidan | ) www.businessinsider.com time to read: +8 min

For 13 years, he invested at least 50% of his salary to grow his retirement portfolio. The latter portion allows him to access his retirement income before the age of 59 and a half without incurring a 10% penalty. The stock exposure in that account is mainly through the iShares Core S&P 500 ETF (IVV), where he has about $1 million invested. This roughly means you need to have $1 million invested into the index to earn $15,400. Therefore, only 1% of his brokerage portfolio is allocated to a few individual tech stocks.

Persons: Sam Dogen, Goldman Sachs, He'd, Dogen, he's, He's, I've Organizations: Credit Suisse, Goldman, Wealth, Fidelity, Treasury Locations: New York City, San Francisco, IVV

☆ The 10 states where $1 million in retirement savings will run out the fastest—Hawaii is No. 1
▼ + stars: | 2022-12-17 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

As it turns out, $1 million may not be enough to sustain you through retirement in certain states. But in a few states, $1 million in savings likely won't last that long, according to recent data from personal finance site GOBankingRates. In Hawaii, $1 million in retirement savings would only cover your living expenses for it about 10 years. It's not just the Aloha state where $1 million likely won't go as far as you hope. Here are the top 10 states where $1 million in retirement savings would run out the fastest.

☆ Should you rent or buy a house? Use the 'BURL' rule to avoid financial regret, says real estate investor
▼ + stars: | 2022-07-19 | by ( Sam Dogen | ) www.cnbc.com time to read: +4 min

BURL: The rest estate investing rule to followAs real estate investor, I always recommend using the "BURL" rule — which stands for "buy utility, rent luxury" — to avoid financial regret. Savvy real estate investors often pay no more than 100 times the monthly rent to purchase a property. In the case of the couple above, an investor following the 100 times monthly rent rule wouldn't pay more than $750,000 because the monthly market rent was $7,500. There are people who pay six-figures a year in rent, but are actually coming out ahead thanks to the BURL rule. The BURL rule says that if you can afford it, buy the Honda Civic and rent the Ferrari on weekends.

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