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How do I become a self-sufficient old man in a shack?

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41–50 of 98 posts

Re: How do I become a self-sufficient old man in a shack?

#41
Great question. I think more passive income is required for food etc. eg. my rule of thumb $1,000 invested will bring in about $1-2 per week; or, some businesses you own can (theoretically) provide passive income, but in practice it's not totally passive (1 hour per day is quite reasonable though.) But both sources will require more work to setup in the first place, to create the "asset". Another option is part-time consulting work; if you charge $100 per hour, that's $500 per week. Of course, you probably can't get that literally one hour per day; it would be bursty: (say) full-time for a few weeks, then don't work for a year. That's a popular hacker route. But again, you'd have some setup cost, in having the technical skills (and keeping them up to date) + (more importantly) having the business skills to keep getting the work, year after year (and the social temperament.) It's sounding more reliable to work for a whole year, and invest that.

Though my personal experience is that I really missed being productive for other people, and have decided to expend effort doing useful things for others (create the value that I want to create, on my own timetable and terms - largely an intersection of benefiting both others and myself.) It took me 2-3 years of not working to come to that decision, and it seems typical of people who retire. But even knowing that, I still had to see for myself. I expect you too. Of course, it's quite possible to just do that in the first place (I didn't.)

Re: How do I become a self-sufficient old man in a shack?

#43
post #41

Great question. I think more passive income is required for food etc. eg. my rule of thumb $1,000 invested will bring in about $1-2 per week; or, some businesses you own can (theoretically) provide passive income, but in practice it's not totally passive (1 hour per day is quite reasonable though.) But both sources will require more work to setup in the first place, to create the "asset". Another option is part-time…

My contribution would be my research, if it ends up being any good. But i don't want to be a slave to researching just so i can receive funding and continue my studies, I want to be self-sufficient and research exactly what i feel like, independent of others.

Re: How do I become a self-sufficient old man in a shack?

#45
post #40

Earlier quoted context omitted.

The minimum for me . I want in-home internet access for the rest of my days, and of course cover taxes and some other minor luxuries like coffee and ammo. Again, it all depends on what you require and how you want to live. Even if I started out with nothing, with $100k I could probably buy a place outright (a truly run-down shack, mind you) and still have enough to bootstrap myself into life-long self-sufficiency(exc…

ammo?

[deleted]

Re: How do I become a self-sufficient old man in a shack?

#46
post #40

Earlier quoted context omitted.

The minimum for me . I want in-home internet access for the rest of my days, and of course cover taxes and some other minor luxuries like coffee and ammo. Again, it all depends on what you require and how you want to live. Even if I started out with nothing, with $100k I could probably buy a place outright (a truly run-down shack, mind you) and still have enough to bootstrap myself into life-long self-sufficiency(exc…

ammo?

I hunt as well as dispatch livestock for slaughter. Varmint control is a sometimes necessary. Home defense is a side benefit, but not a primary motivator and I hope I'll never need it.

Nothing fancy, just a .22 rifle and a 12-gauge shotgun with a good supply of rounds for each, two of the most humble and versatile firearms one can own.

Re: How do I become a self-sufficient old man in a shack?

#47
post #26

Earlier quoted context omitted.

So is $100k and whatever you already own the minimum you would say this it's possible to do this with?

The minimum for me . I want in-home internet access for the rest of my days, and of course cover taxes and some other minor luxuries like coffee and ammo. Again, it all depends on what you require and how you want to live. Even if I started out with nothing, with $100k I could probably buy a place outright (a truly run-down shack, mind you) and still have enough to bootstrap myself into life-long self-sufficiency(exc…

[deleted]

Re: How do I become a self-sufficient old man in a shack?

#48
What about living in a different country?

One of my friends lived on $100 a month in China. Out there your 10k should get you 8 years and 4 months of living in Beijing. You certainly could last much longer in the countryside.

You can supplement your money by teaching English.

Re: How do I become a self-sufficient old man in a shack?

#49
post #15
post #11

Commit a felony and go to jail. That will meet most of your requirements. You will probably be paroled early, so commit additional felonies as required.

Oh, by "escape the system" i meant escape the system we create here, as in keep my freedom, not be incarcerated, not be prevented from having sex or children for the rest of my life, etc.

But, Peter, they have conjugal visits in prison.

Re: How do I become a self-sufficient old man in a shack?

#50

What about living in a different country? One of my friends lived on $100 a month in China. Out there your 10k should get you 8 years and 4 months of living in Beijing. You certainly could last much longer in the countryside. You can supplement your money by teaching English.

also, if you teach English in China, you typically get 16 hours a week of classes. This will typically net you an apartment and between 3500-6000 Yuan per month (about $450 to $800). You may be able to negotiate to work fewer hours in exchange for less pay and achieve your 1 hour a day or so dedicated to "other activities", i.e teaching.
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