David Frank, 37, 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 them financial freedom achieve – decide for yourself where, how and whether you want to work at all. to a passive income To get it, he invests money in the stock market every month. He pursues the goal exclusively of the dividends to be able to live. The 37-year-old doesn’t want to wait until retirement to achieve this, 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.
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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 know more about Frank’s family and career, you can do this Article read. The podcast episode “Money Mindset” with Frank, you can here hear.
That’s how many dividends Frank received
Business Insider: How much is your portfolio currently worth?
David Frank: “My portfolio was worth exactly 240,000 euros at the end of the month. This corresponds to a minus of a good four percent, which is not due to the poor price development, but mainly to various share sales.”
BI: How many dividends did you get in May?