How 2 engineers quit their jobs to retire early and travel full-time, with Kristy Shen and Bryce Leung

#42: A big reason why I started HYW was to show how you can “hack systems” in large and small ways – whether related to taxes, travel, real estate, etc – to achieve FI and retire early…

…and to continue growing wealth even in retirement.

That’s probably why many readers are engineers: you likely know a thing or two about hacking / optimizing systems.

That’s also probably why there are many ex-engineers in the FIRE community.

Today’s guests, who were engineers before early retiring, were one of the first folks in the FIRE community I started following a few years ago.

So it’s a real treat to talk with Kristy Shen and Bryce Leung, millennial early retirees who quit well-paying engineering jobs to travel the world, initially, for one year…but decided – after analyzing their spend that year and realizing it cost less to travel than to live in their hometown – to do it for good. (Along the way, they also wrote a popular FIRE blog and best-selling book.)

Their story is about applying simple rules of thumb to saving and investing to build a 7-figure portfolio and retire early, then optimizing your investments efficiently to withdraw safely into perpetuity.

We discuss:

• What motivated them to leave well-paying engineering jobs
• How they came up with their FIRE number and what they invested in
• Why they rebelled against conventional wisdom to buy a home
• How they stayed focused as friends and colleagues upgraded their lifestyles…and how they eventually became the envy of peers back home
• Why their parents objected but eventually came around (and what convinced them)
• The moment they realized it was cheaper to travel than to stay at home
• How big their portfolio was on the day they retired and how big it is now (after traveling over the years)
• How they use a “yield shield” to structure their withdrawals so they never have to sell in a down-market (and how long their cash buffer will last)
• How their mindset shifted from “traveling to consume” to “traveling to learn”
• How they deal with loneliness when traveling for long stretches
• How they handle health insurance after losing their universal coverage
• How getting older and potentially starting a family may change their travel lifestyle in the future

Would you travel long-term – potentially forever – in early retirement? Do you agree with Kristy’s and Bryce’s views on homeownership? What are your reactions to their safe withdrawal strategy (yield shield)? Let me know by leaving a comment!

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Links mentioned in this episode:

• Millennial Revolution
• FIRE explained in Mandarin
• Kristy's and Bryce's book: Quit Like a Millionaire
• HYW private Facebook community

Intro/Outro: Old Bossa by Twin Musicom.