• Video
  • Shop
  • Culture
  • Family
  • Wellness
  • Food
  • Living
  • Style
  • Travel
  • News
  • Book Club
  • GMA3: WYNTK
  • Newsletter
  • Privacy Policy
  • Your US State Privacy Rights
  • Children's Online Privacy Policy
  • Interest-Based Ads
  • Terms of Use
  • Do Not Sell My Info
  • Contact Us
  • © 2025 ABC News
  • Living

How one dad retired in his 30s and achieved financial freedom

3:19
How some people were able to retire in their 30s
ABC News
ByJessica Mendoza
June 20, 2023, 2:49 PM

Michael Quan was just 36 when he retired. Today, the father of two from San Diego is 46 and living a life of his choosing, having achieved his goal of financial independence.

"The goal wasn't necessarily to retire super early. It was to really get to a place of financial independence or financial freedom where I didn't have to work for money, where I could ultimately choose what I want to do with my time," Quan told "Good Morning America."

To achieve his goal, Quan started investing when he was 26, learning to make passive income from his uncles who had business and real estate investments.

"I was like, 'You know what? That's great. You get to focus on what really matters to you most and you get to be super intentional with your life,'" Quan said he remembered thinking at the time.

Quan adopted the F.I.R.E. method, short for "Financial Independence, Retire Early," and began aggressively saving his salary. He started investing early, in his 20s, before he married and had children. He was also diligent and intentional from the get-go and was active and investing over time.

Editor’s Picks

This couple retired at 43 using the FIRE method

  • Oct 17, 2018

How this single mom got out of debt and retired at 41

  • Jul 26, 2021

How one couple paid down $100,000 in debt in 3 years with budget tweaks

  • Jul 12, 2022

But instead of putting all his eggs in one basket, Quan invested his money into various stocks and index funds and his money grew over the years.

"I just started investing in the stock market and spending $5 a week, investing into stocks and so that really got me interested into building a portfolio at a young age, even before I started my company," Quan said.

Related Articles

MORE: This couple retired early using the FIRE method. Here are their top tips.

While working full time, Quan began to build an information technology consulting business that then led him to diversify his investments even more.

"Because I was building a business, I had the opportunity to cash out some of that equity and put that into real estate," Quan said.

Michael Quan, the author of "The F.I.R.E. Planner," used the "Financial Independence, Retire Early" method to retire early in his 30s.
ABC News

Quan worked on building his business for a decade until he received an unsolicited offer to buy out his company.

"I decided, I have a unique opportunity to be home and present with the kids. I have a lot of shots to build another business but only one shot at being a great dad," Quan recalled thinking at the time.

Quan, who wrote a guide called "The F.I.R.E. Planner," said one of the key tips he recommends to find success with the F.I.R.E. method is to embrace the right mindset.

"A lot of times, we are taught in school that you go out, you get a job, and then you work [a] traditional 9 to 5 job. And while that can work for some people, a lot of times, we feel trapped because we get into debt that society tells us is OK to finance your future. And if you remove that idea, you get back to a different belief that 'Hey, I can actually build wealth over time slowly and it doesn't have to be painful,'" Quan said. "It's really the mindset that is the start. Once you have a belief and once you have the action, you'll get the result."

Related Articles

MORE: This couple retired at 32 using the FIRE method. Here's how they did it

For example, if you think about building wealth over time slowly instead of trying to finance your future and set it up to be automatic, such as with automatic deposits into a 401(k) or an individual retirement account, you're more likely to succeed at building a nest egg.

Another way Quan has achieved financial freedom without working is by relying on passive income, which offers a steady flow of cash with minimal upkeep. Popular passive income sources include investments, side hustles or high-yield savings accounts, where the majority of the work happens during the set-up process. Another way to generate passive income is to rent out high-value items you already have, such as your home, garage, power tools or even your pool for a day through services like Airbnb, VRBO or Peerspace.

Today, Quan said he uses the term "early retirement" in a loose way since he still works on different passion projects, such as financial coaching, for which he earns an income.

"I don't think I'll ever go back to work in a 9 to 5. What I will do though, is never stop working," Quan said. "I get to work on incredible things. I love personal development and really helping other people. So I'll definitely take on some coaching clients occasionally to help them in their journey. And then I've been doing some public speaking as well and going out and sharing with university kids or going to conferences and speaking."

Editor’s Picks

This couple retired at 43 using the FIRE method

  • Oct 17, 2018

How this single mom got out of debt and retired at 41

  • Jul 26, 2021

How one couple paid down $100,000 in debt in 3 years with budget tweaks

  • Jul 12, 2022

Up Next in Living—

May's full flower moon is arriving: What it means for your zodiac sign

May 11, 2025

Igloo expands voluntary cooler recall due to possible fingertip amputation, crushing hazards

May 8, 2025

Nearly 60 years after Boston Marathon run, Kathrine Switzer still inspires women to run

May 8, 2025

Hospital announces baby boom with 14 maternity nurses expecting

May 7, 2025

Shop GMA Favorites

ABC will receive a commission for purchases made through these links.

Sponsored Content by Taboola

The latest lifestyle and entertainment news and inspiration for how to live your best life - all from Good Morning America.
  • Contests
  • Terms of Use
  • Privacy Policy
  • Do Not Sell My Info
  • Children’s Online Privacy Policy
  • Advertise with us
  • Your US State Privacy Rights
  • Interest-Based Ads
  • About Nielsen Measurement
  • Press
  • Feedback
  • Shop FAQs
  • ABC News
  • ABC
  • All Videos
  • All Topics
  • Sitemap

© 2025 ABC News
  • Privacy Policy— 
  • Your US State Privacy Rights— 
  • Children's Online Privacy Policy— 
  • Interest-Based Ads— 
  • Terms of Use— 
  • Do Not Sell My Info— 
  • Contact Us— 

© 2025 ABC News