David Frank, 36, wants to be able to live off his passive income by the time he is in his mid-40s. Here he explains how he creates it.
He can only achieve his financial freedom if he earns money every month with his dividends, Frank is convinced of that.
Every month Frank tells Business Insider how he invests, how his portfolio is developing and whether he is getting closer to his goal.
David Frank has a big goal: He wants to achieve financial freedom – to decide for himself where, how and whether he wants to work at all. In order to receive passive income, he invests money in the stock market every month. He is pursuing the goal of being able to live solely on the dividends. The 36-year-old doesn’t want to achieve this before retirement, but already in his mid-40s – and then maybe even take early retirement. But how is he going to do it?
Business Insider follows Frank on his journey to financial freedom. Every month he gives us an update on how he is getting closer to his goal or what setbacks he may be experiencing.
David Frank has been a manager at the consulting firm PwC for almost ten years. He is married to a doctor. The couple lives with their children, a two-year-old son and a five-year-old daughter, in a single-family home in a suburb of Cologne. In addition to his job, Frank also runs the blog “Young Retired”. If you want to learn more about Frank’s family and career, you can read this article. You can listen to the podcast episode “Money Mindset” with Frank here.
This is how Frank builds up a passive income
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