Thrifty Germans look to escape the rat race early

WebinarsNew
Deep DiveNew
Explore Business Standard

Former meteorologist Lars Hattwig has achieved the "frugalist" dream that is gaining ground in ageing Germany: retiring in his 40s and living on the proceeds of a working life lived sparingly.
"It was four years ago that I realised I didn't need my salary anymore. I didn't have to work any more. So I quit my job," the Berliner, now 47, tells AFP.
Hattwig put himself through a sometimes punishing savings regime for 10 years and carefully invested the proceeds, giving himself the resources to make the leap.
"For one or two years I was extremely tight-fisted" after the 2008 crisis, he admits, as his share holdings lost some of their value before later recovering.
"I avoided turning on the lights at home, I checked the metre regularly, I bought the cheapest food," he recalled. "But that phase is over now."
"I can totally imagine that when I'm 40, I'll say to myself: I've been doing this for 10 or 12 years. Now I want to do something else," the Hanover-based computer programmer says, pooh-poohing the official retirement age of 67. "My goal is just to be happy."
Disclaimer: No Business Standard Journalist was involved in creation of this content
First Published: Jun 27 2018 | 6:11 PM IST