Earn $70K a Year? Here's How You Can Retire In a Decade, According to Millennial Money Founder

When Grant Sabatier found himself with only $5 and living back home with his parents in 2010, the then-24-year-old knew he needed to make a big change. Bouncing from job to job and then getting laid off during the recession, Sabatier faced a wake-up call when he couldn’t even afford a Chipotle burrito.

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That moment sparked a mission: Earn $1 million and retire as early as possible. Over the next five years, the self-described “Millennial Money” founder would do just that, amassing over $1.2 million in savings.

Now almost 40, Sabatier believes his path to financial independence in record time is replicable for many Americans if they’re willing to make tough choices. His message to those earning $70,000 or more per year: You can retire within a decade.

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“I think a vast majority of Americans can retire in 10 years or less if they’re making at least $70,000 per year,” Sabatier told CNBC Make It. The key, he says, is consistently saving 50% to 70% of your income, even if that means making significant lifestyle adjustments.

“You’re going to have to live a little bit differently than most people,” Sabatier acknowledges. “But we’re not talking about doing that forever. We’re talking about doing that just for a couple of years in order to bank and save and invest the difference.”

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So, what does that “different” lifestyle look like? Sabatier offers three primary tips:

First, cut your housing expenses as much as possible. “Live in the least expensive apartment that you can, get roommates, house hack, buy a two-bedroom apartment and rent out the other room to keep your housing expenses as low as possible,” he advises. Reducing that often-hefty monthly cost can “10 or 15 years off the time that it will take you to retire.”

Next, start a side hustle. While there are limits to cutting spending, your earning potential is boundless. “Every $1,000 you make and invest instead, that’s going to cut literal months off the time it will take you to retire,” Sabatier notes.

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Finally, stay motivated. Sabatier, who once juggled 13 income streams, admits it’s easy to get discouraged. His solution? “Gamify” your savings, tracking progress daily to watch your money grow– “and that’s all the motivation that you’re going to need.”

Of course, not everyone may be able to hit that 10-year target. But even if it takes 12 or 15 years, Sabatier stresses, “you’ve still retired early.”

The self-made millionaire’s message rings clear: With discipline, creativity and a mindset shift, financial independence is within reach for many. The key, he says, is to see saving not as a sacrifice but as an opportunity.

“The important thing here is to realize that saving is not a sacrifice. It’s an opportunity,” Sabatier said. The payoff can be life-changing freedom for those willing to live frugally for a few years.

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