How a young Sydney engineer plans to retire by age 35

A young engineer has shared his secret tips on how he plans to retire at just 35-years-old.

Sydneysider Pat Seyrak, 30, has saved over $300,000 so far, but instead of buying a house he has decided to put in all in the share market.

He hopes to reach a $1 million goal in five years, retire, and live off the interest of $40,000 a year.

Sydneysider Pat Seyrak, 30, has saved over $300,000 so far, but instead of buying a house he has decided to put in all in the share market

Engineer Pay Seyrak has shared his secret tips on how he plans to retire at just 35-years-old

Pat Seyrak, 30, has saved over $300,000 so far, but instead of buying a house he has decided to put in all in the share market

Pat Seyrak, 30, has saved over $300,000 so far, but instead of buying a house he has decided to put in all in the share market

'By saving aggressively and investing aggressively in exchange-traded funds, I plan to have $1,000,000 by the time I am 35. This will produce an income of about $40,000 per year for the rest of my life,' he wrote in an article for ABC.

'My colleague Matt nearly choked on his coffee when I told him I had $250,000 in the share market.

'But I'll tell you what I think is crazy: spending 30 years of servitude paying off a mortgage, just to own a very expensive material possession, when I could be doing other things like spending time with my friends and family.'

Mr Seyrak has a long-term girlfriend who supports his ambitious plan of financial independence.   

While $40,000 might not sounds like enough, Mr Seyrak believes they will be able to live comfortably.

Living in Sydney is too expensive, so he and his partner plan to move to a cheaper city such as Cairns, Adelaide, Ballarat or Hobart.

He hopes to reach a $1 million goal in five years, retire, and live off the interest of $40,000 a year

He hopes to reach a $1 million goal in five years, retire, and live off the interest of $40,000 a year

Mr Seyrak said he and his partner budget much like any other young couple (he is pictured cutting his hair) 

Mr Seyrak said he and his partner budget

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