Almost all workers dream of accessing retirement at the earliest possible age to be able to enjoy the so -called “golden dream.” There are people who go beyond retirement at 60 or 65 and aspire to do it much earlier. This is the case of Derrick Morgan Jr., a 34 -year -old brand lawyer who has decided that his retirement age will be 45 years old and for this he has begun to save 12,000 euros per month.
As Make IT magazine points out, its savings strategy and its investment focus have allowed you to manage your own firm, which invoices almost $ 500,000 annually. As he explains, business instability has led him to prioritize savings: “I don’t know how long my business will prosper, so I make sure I pay myself first: I concentrate my investments at the beginning.”
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Anticipated retirement at 45
Morgan, who began offering his legal services on the Fiverr platform during the pandemic and now leads an office supported by a legal assistant and artificial intelligence tools. He dedicates approximately 40% of his annual income (about 350,000 euros) to investments oriented to early retirement, following the philosophy of “the richest man in Babylon” by George S. Classon. “I simply make sure to invest the maximum I can and then live from the rest,” he explains.
Its monthly budget prioritizes contributions to different investment vehicles, such as an individual plan 401 (K), an Rothy Rear Door IRA, a savings account for medical expenses and a brokerage account subject to tax. In addition, receive $ 440 per month for the rent of a condominium in Chicago.
As he details, he invests additionally in his brokerage account after reaching the limit of his retirement accounts, to be able to have money before the traditional retirement age: “I invest a lot in my brokerage account because I want to be able to withdraw money before the traditional retirement age.”
In addition, he has recently invested in the development of a boutique hotel in Mexico, disbursing $ 14,500 in March 2025, its highest expense of the month. He plans to finish these payments in the coming months and then resume their regular retirement contributions.
As for his lifestyle, Morgan resides in an apartment furnished in Mexico City for $ 2,032 per month, approximately half of what he would pay in Chicago, although he clarifies: “It is affordable, but it is not cheap.” Try to keep your general expenses low, regardless of car and use public transport and mobility applications.
In the interview, he explains how his expenses were during the month of March 2025. For example, in real estate investment 14,500 euros, in homes and other services 2,032 euros, in 1.85 euros spending (includes purchases and restaurants). It also pays 1,000 euros of a student loan, in other expenses 557 euros, in transport 173 euros and in life insurance 44 euros.
Compared to the cost of life in other major American cities, its housing expense is much lower, which makes it possible to allocate a high percentage of its income to investment. In Spain, Morgan’s savings and investment profile resembles that of the so -called “aggressive savers” that prioritize financial independence, an increasing phenomenon, according to reports from the Bank of Spain.
“I prefer to have freedom to have money”
Morgan’s desire for financial independence is linked to his childhood experience. “I grew up in a middle-low-class family, so we didn’t have much. Money was scarce; we couldn’t afford this or that. So it’s like a matter of freedom, he explains,” he explains. Although his goal is to retire at age 45, he does not plan to stop working completely, but to have the freedom to choose in what projects to get involved: “When I retire, it will be to be able to concentrate on living freely, but also to dedicate myself to more projects that I love instead of working only to earn money.”