34-year-old works remotely from Mexico City, makes $350,000 a year

This story is part of CNBC Make It’s Millennial Money series, which details how people around the world earn, spend and save their money.

When the Covid-19 pandemic shut down courts in early 2020, Derrick Morgan Jr.’s work at an Indianapolis-based law firm slowed dramatically.

Faced with reduced contingency work, he started looking for new ways to earn income. Around that time, his cousin was starting a business and asked for help registering a trademark — something Morgan had studied in law school.

“I did the trademark for it and was like, ‘Oh, that’s not that bad, I remember it,'” the 34 year-old tells CNBC Make It. “It’s just like riding a bike.”

Morgan began offering trademark services on Fiverr, an online freelance platform.

“After a few months, it really took off,” he says. What began as a side project quickly grew into a full-time business on track to earn nearly $500,000 this year, of which he will pay himself over $350,000. He also earns $440 per month in rental income from a condo he owns in Chicago.

Trademark law gives him the flexibility to work remotely, which fits his lifestyle. A lifelong traveler who has visited more than 60 countries, he now splits his non-travel time between Dallas and Mexico City, where he’s put down roots.

“Mexico City is home for the foreseeable future,” Morgan says. He’s hired a Spanish tutor, made friends with locals and tries to live, he says, as a “neighbor and not as a tourist.”

Here’s a look at how Morgan juggles travel, his business and his plans for early retirement.

Morgan’s trademark services found an early audience on Fiverr, where his customer-friendly style stood out to small business owners and entrepreneurs. He became a Top Rated seller, the platform’s highest designation.

“A lot of these prospective clients, they’re first-time business owners … they’ve never dealt with a big fancy attorney who’s going to be charging them hundreds of dollars to confuse them,” he says. “I get a lot of clients because I’m approachable and I meet them where they are.”

By the time Morgan quit his day job in 2021, his boss wasn’t surprised. “He said he saw it coming,” Morgan says. “I’ve always been someone who has an entrepreneurial spirit.”

Morgan’s company offers trademark services ranging from searches and filings to brand enforcement. “It’s A to Z for trademark services,” he says. Much of the work is procedural, which lets him serve more clients efficiently.

He typically charges between $600 and $800 per client, depending on the scope of the service. While he still uses Fiverr, much of his business comes through word of mouth and social media.

What began as a solo operation now includes a small team. “I have myself, my paralegal and an AI assistant where everything is a lot more streamlined,” says Morgan.

His business is fully remote, allowing him to set his own hours and work from anywhere. “There are no requirements for me to be in the States,” he says. “Trademark law is federal law, so it doesn’t matter where you’re licensed, as long as you have a U.S. license. With the state bar, you can practice anywhere.”

Morgan used to work up to 90 hours a week when he was running the business solo. With a team in place, he now works closer to 45 to 50 hours a week — including some evenings to accommodate clients in different time zones.

Before budgeting for anything else, Morgan sets aside at least 40% of his income — often $12,000 or more each month. “I make sure I invest as much as I can and then live off of the remainder,” he says.

Morgan’s low fixed costs allow him to invest consistently across both tax-advantaged and taxable accounts, including a solo 401(k), a SEP individual retirement arrangement, a health savings account and a brokerage account.

Recently, he’s paused contributions to his investment accounts and is directing most of his earnings toward a boutique hotel property development project in Mexico. He says he expects to complete his payments within a few months, and plans to catch up on his retirement contributions later in the year.

“I invest in real estate because I don’t want all my wealth tied to the stock market,” he says.

Here’s a look at how he spent his money in March 2025:

• Real estate investment: $14,500
• Housing and utilities: $2,032 for a furnished rental in Mexico City, including Wi-Fi
• Food: $1,085 for a mix of groceries and dining out
• Student loan repayment: $1,000
• Discretionary: $557 for household items, pet boarding and a visit to the barber
• Transportation: $173 for Uber rides and bike rentals
• Life insurance: $44
• Subscriptions and memberships: $29 for Netflix, Spotify and Apple

Morgan says his apartment in Mexico City costs about half of what he’d pay for a similar place in a major U.S. city like Chicago.

While he lists Texas as his U.S. home base, he spends most of the year abroad. “I spend nine months in Mexico City, three months, wherever the wind takes me,” he says. “Texas is where home is — that’s where my family is — but I might be in Europe or traveling around other parts of the U.S.”

Morgan first developed his “travel mindset” in college. He studied abroad in the U.K. and volunteered in rural Vietnam, then kept that momentum going in law school, visiting about three countries a year. In 2018, he even skipped his graduation to fly to South Africa because the flights were cheap.

He recently spent several weeks exploring countries in South America and often joins friends on spontaneous trips abroad.

Morgan also enjoys eating out frequently. He lives in a walkable Mexico City neighborhood known for its cafes, lush parks and late-night taco spots. “I do like to splurge on food and eat out a lot,” he says. “Outside of food, I try to keep a lot of my expenses low.”

He doesn’t own a car, choosing instead to get around with rideshare apps, rental bikes and public transit. Some of his expenses, like his phone, are covered through his business. All health-care expenses are paid out of pocket.

His only debt is $42,000 in student loans, and he pays off his credit card balances in full each month.

Morgan is inspired by the principles of the FIRE movement — short for financial independence, retire early — and wants the option to stop working in his 40s.

For him, it’s less about building wealth and more about “being able to do what I want, when I want,” he says. When he does retire, he plans to focus on passion projects “instead of working to make money.”

“As a business owner, you don’t know how long your business is going to thrive,” he says. “So I ensure that I pay myself first and I front-load my investments because I do want to retire as early as possible.”

For now, Morgan remains focused on growing his business, traveling frequently and maintaining an affordable lifestyle in Mexico City.

“My goal isn’t necessarily to just be rich,” he says. “My goal is just to have options.”

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