Job Hopping for Raises and Retiring at 30 | A Purple Life

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Today’s episode is an awesome chat with Purple from A Purple Life.

Purple has an awesome story and she hits a giant milestone of retirement at age 30 this year.

She covers how she continued to jump jobs in a way to increase her salary 3x while raising job satisfaction.

Listen, learn, and let us know what you think.

Episode Summary

Purple Beginnings

  • Purple was introduced to financial independence by her partner
  • However, she didn’t listen to his advice for two years
  • She felt she had things in order to retire in her 50s
  • Her mom actually retired in her 30s
  • Purples mom also helped build financial understanding
  • She would give purple $1 for chores but remove taxes first
  • Purple talks about being frugal in high school and college
  • Her degree was in American Studies
  • She ended up landing a job in advertising
  • Then New York happened
  • She said she was brainwashed there
  • Expensive heels and purse subscriptions ensued

Job Hopping

  • Her first New York job paid about $35k
  • She was also super unhappy and stressed
  • Purple quit that job without another one lined up
  • She was hired in a couple of weeks with a promotion and $13k raise
  • That made her realize how much she could leverage job offers
  • The next job was another $17k raise which put her up to $65k
  • Then she looked to start dropping her expenses
  • This would take her out to Seattle which was half the cost of Manhattan
  • Job hops would continue until her salary today of $110k
  • In total, she had 3x her income and cut living costs in half between rent and taxes

FIRE Ignites

  • It started clicking that these voices like Mr. Money Mustache were actually realistic
  • She got a lot more serious about all her line items
  • A big one she calls out is learning to cook
  • After things settled, she realized she could and will retire at 30

Her Why of FIRE

  • She doesn’t want to be held to a schedule… that simple
  • Purple doesn’t hate her job and even gets to work from home
  • She also plans to stop renting and slow travel all over the world
  • Purple admits she doesn’t know if being a nomad will be for her
  • Her target date is September 2020

Why her Journey works

  • Never owned a car
  • Doesn’t want a house
  • Will not have children
  • Started investing early
  • Only spends $18k per year
  • Net-worth
    • 2015 – $89k
    • 2016 – $137k
    • 2017 – $234k
    • 2018 – $280k
    • 2019 – $448
    • Projected $500k at retirement
  • She’s super flexible

Un-productivity Advocate

  • Purple is a hard worker and type-A
  • But she recognizes too many people equate being busy as successful
  • There’s no strong desire with her for a side hustle
  • It’s important for her as an introvert to take time and recharge
  • She does, however, plan on continuing her blog
  • And she also uses the app Job Spotter to make some money on the side

 

Key Takeaways

  1. Leverage Yourself: You make $x today but that doesn’t mean it’s what you’re worth. Don’t underestimate your value.
  2. Compounding is Strong: Purple started not making a ton and living in a very expensive place but now she’s retiring at 30. It worked because she started early and just kept saving.
  3. Busy isn’t required: Purple calls out how we don’t have to inject stress, plans and work into our lives, that it’s ok to just relax.

Call to Action

Take a look at your skills and how they could fit in a different role or company that allows you to up your salary.

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Purple’s Information

Her Blog: A Purple Life

Twitter – @APurpleLifeBlog

Instagram – @APurpleLife

 

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