Man who saved 70% of his income to retire at 34 shares why he stopped being 'hyper-frugal'

When he retired as a software engineer in 2016, Scotland's Brandon Ganch was only 34. He managed to amass his wealth by aggressively saving 70 percent of his income and keeping his spending lean. But while he does not regret his decision, looking back now, the MadFientist — as he is popularly known online — said that he and his wife weren't happy to have lived a hyper-frugal life.

Opening up in Afford Anything podcast with host Paula Pant, Ganch said, "I got into deprivation and neither my wife nor I were happy." At the time, he and his wife lived frugally “in the woods of Vermont” while pursuing financial independence.

Their spending habits, however, changed after the birth of his two children. Now, Ganch is focused on spending on things that improve his family’s quality of life. He wants to buy a home in Scotland — a decision he described as “a pure luxury,” compared to his earlier frugality.

“I’m enjoying homeownership for the first time in my life,” Ganch said on the podcast. “I don’t let it stress me out. I know that there’s going to be expenses,” so he doesn’t worry too much about “saving every penny.”