Eleven years left, then Oliver made it from Hanover. If everything goes according to plan, then he retires. He wants to stop working at the age of 40 - and live off his savings!

What Oliver has planned sounds inconceivable to many of us: the 29-year-old does not spend a lot of money, but invests a large part of his money and soon does not want to have to work anymore. He calls himself a frugalist, someone who knows how to lead a good life with little money.

Thriftiness and a cheap apartment

Together with his girlfriend Joana he lives in a 46-square-meter apartment, both pay only 300 euros per month rent. On his blog frugalisten.de, Oliver reports on how he is progressing - and how he managed to lead a thrifty yet fulfilling life.

Oliver's idea behind it is clear: He wants to be financially independent, set aside so much money that he can live on it. For this, the software developer waives any unnecessary consumption - but not on the fun in life.

© Oliver Nölting / Private

In his blog, he describes how he has enjoyed saving: "It works quite simply: no matter what happens, you just do not buy anything, something breaks down, you do not buy anything, you want change, you do not buy anything. You see something cool in advertising or with your work colleagues? Fine, but you do not buy it, not even as a pastime, my life suddenly became more relaxed, no more shopping in the mall, no shopping day in the crowded IKEA, no senseless surfing on price comparison But the really amazing thing about non-buying was something else, because something completely unexpected happened: just nothing. "

When Oliver talks about his lifestyle, he usually looks in disbelieving eyes: Can you really have a full life with very little money? Yes, says Oliver. And: "For us Frugalists saving is of course something totally positive and to avoid unnecessary clutter sounds super obvious to us."

And Oliver also likes to explain that he does not give up consuming anything, but simply spends much more conscious money than most of us: "Do not buy does not even mean that you do not buy anything anymore, it just means you do not Run more to Amazon or the mall every time you're sick, but add some options to your repertoire of problem-solving and job opportunities. "

Oliver saves up to 1500 euros a month

Oliver earns in his job between 2000 and 2500 euros a month - but he only needs about 900 euros to life. The rest, ie up to 1500 euros, he invests in stocks and so-called ETFs (quasi share collections). So his money increases (if all goes well) so to speak by itself. And Oliver has an exact plan of how long it will take before he can live on only the money (or the value) he has in his depot. At 40, he wants to have taken care of and completely financially independent.

And then? OIiver tells us: "What I want to do at the age of 40, I'm completely honest: no idea! Eleven years are still a long time, hard to say what I'll have for hobbies and interests then Maybe I'll have one too If I look back eleven years (I was 18 at the time), I probably would not have imagined what I'm dealing with today, so if I'm financially free, I can do what I want without necessarily doing so And that's always an advantage, I think, regardless of what kind of activity you want to pursue. "

As examples he mentions things like jogging in the forest, building a dam with children or growing vegetables in the garden - does that sound like a completely relaxed life?

This tells Olivers girlfriend to his thrifty life

And how does Joana feel at the side of her thrifty friend? Oliver: "My girlfriend and I basically live a pretty similar lifestyle, maybe it's just not as consistent as I. Our apartment (small compared to other couples) we share, for example, it makes a little more expensive holidays or picking up the car where I would ride my bike, but she does not have the plan to have it out early, we have separate finances, and the goal of having taken care of 40 is just my own. "

With economy and perseverance in financial freedom - Olivers project may be extreme, but in any case it is remarkable with what meticulousness and with how much élan he pursues his goal. And we are sure: if nothing comes between, he will have achieved his goal in eleven years?

The Coming Retirement Crisis Explained and Explored (w/ Raoul Pal) (May 2024).