At the age of 32, the frugalist Manuel Streifeneder has accumulated a fortune of over 350,000 euros. He currently finances his frugal lifestyle from the distributions from his portfolio and through options trading.
His assets consist of cash and book money reserves, precious metals, ETFs and an options portfolio, whereby he focuses on value stocks and stocks with high dividends.
He blogs monthly reports detailing his income and expenses, and offers coaching on finance, options trading, and frugalism.
At the age of 25, Manuel Stricheder finished his electrical engineering studies. Seven years later he quit his job as an electrical engineer. Stripeder – or the financial nomad, as his blog is called – has accumulated a fortune of over 350,000 euros thanks to discipline in his spending and smart investments. Today, the 32-year-old Bavarian is no longer dependent on work because he generates enough monthly income from his assets to cover his costs.
The frugalist are people who stand out passive income much earlier than when normal is reached retirement age to be freed from the obligation to work. On a business trip to South Korea, while bored surfing the internet in his hotel room, Manuel came across the movement. There was this blog that claimed that for every 1000 euros invested, around 2.5 to 4 euros net per month would come out again. “I then roughly calculated that I need around 1,500 euros a month to live and that assets of between 400,000 and 650,000 euros would be enough.”