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- $20,000/yr passive income (increasing with inflation)
- modest home paid off (1000-1500sq ft)
- fuel efficient car paid off
- no debt
- low cost of living part of the US
With an income of $20k/year, health insurance can be had for free (Obamacare).
A modestly sized home of say 1000 sq ft (not small in most countries or even the US 40+ yrs ago) will allow for low utility cost, low property tax and lower maintenance cost.
If a person locates near a decent sized city (50k+) they may even be able to walk/bike/use public transportation.
Here is my personal expenses:
Rent $0
car payment $0 (for the next 7-8 years)
Food $325/month (includes eating out a lot)
Utilities $225/month (includes required $50 cable tv package)
Gasoline $60/month
Cell with unlimited data $40/month
Gym $20/month
Car insurance $60/month
Property tax $67/month
Health insurance $38/month (could get a bronze plan for $0)
home insurance $50/month
clothes/haircuts $30/month
home/car maintenance $??/month
travel/vacations ??
total: $915/month -- as low as $850 if needed.
That's about $11k/year which gives me a cushion of about $9k/year. I also have savings which can be tapped in an emergency.
I don't like work, schedules, mornings, bosses, responsibility, feeling replaceable, consumerism, etc, etc.
I do like coming and going as I please, sleeping until noon, hanging out at the pool, traveling, women, reading BS on the internet, playing basketball, working with my hands once in a while, etc.
Anyone else want to join me?
Sure, anyone can do it anywhere, but there's a problem - your rent is $0 well that pretty much cancels out everyone. You should give an example average person's expenses.
On the other hand, no reason to ONLY make $20K a year. Anyone can do so much better! But SPEND only $15-$20K a year including living expenses and rent, yes, anyone can do that. But it's better to buy a house and be paying for it rather than throwing it away on rent.
I'm with you on living on less than you make. The modest house, paid off car, no debt etc. Where we part company is being satisfied with a 20K income, because you like to sleep in till noon and you don't like being told what to do. The extra income doesn't have to be used to buy Apple products or a $300K house, but it sure would help with building your retirement nest egg. Living this way when you're young is the way most start out, but you don't want to be 60 and still trying to get by on such a small income. You need a little bit of vision and understand that you can plan and budget till the cows come home. You just can't always predict which way your life may go. Always best to prepare for the worst and hope for the best. If you can't increase the income with your present job, you need to find a second job. It sounds like your mornings are open.
- $20,000/yr passive income (increasing with inflation)
- modest home paid off (1000-1500sq ft)
- fuel efficient car paid off
- no debt
- low cost of living part of the US
With an income of $20k/year, health insurance can be had for free (Obamacare).
A modestly sized home of say 1000 sq ft (not small in most countries or even the US 40+ yrs ago) will allow for low utility cost, low property tax and lower maintenance cost.
If a person locates near a decent sized city (50k+) they may even be able to walk/bike/use public transportation.
Here is my personal expenses:
Rent $0
car payment $0 (for the next 7-8 years)
Food $325/month (includes eating out a lot)
Utilities $225/month (includes required $50 cable tv package)
Gasoline $60/month
Cell with unlimited data $40/month
Gym $20/month
Car insurance $60/month
Property tax $67/month
Health insurance $38/month (could get a bronze plan for $0)
home insurance $50/month
clothes/haircuts $30/month
home/car maintenance $??/month
travel/vacations ??
total: $915/month -- as low as $850 if needed.
That's about $11k/year which gives me a cushion of about $9k/year. I also have savings which can be tapped in an emergency.
I don't like work, schedules, mornings, bosses, responsibility, feeling replaceable, consumerism, etc, etc.
I do like coming and going as I please, sleeping until noon, hanging out at the pool, traveling, women, reading BS on the internet, playing basketball, working with my hands once in a while, etc.
Anyone else want to join me?
Good luck with the "women" thing. That's probably not going to happen. Who wants a man who is content to live like that for the rest of his life with no ambition to work (retire in 20s or 30s? Really?) or do anything other than hang out?
The only people I know who actually live like this are on welfare and don't want to work. But I sure wouldn't choose it as a way of life, on welfare or off.
Even in any state with a low COL, including KS, KY, IN, AR, OK, MS, TX, ID, TN and NE (10 least expensive states in which to live according to CNBC), $20K/per year makes for a very menial lifestyle.
Good luck with the "women" thing. That's probably not going to happen. Who wants a man who is content to live like that for the rest of his life with no ambition to work (retire in 20s or 30s? Really?) or do anything other than hang out?
The only people I know who actually live like this are on welfare and don't want to work. But I sure wouldn't choose it as a way of life, on welfare or off.
I already have a gf of 3 years. She doesn't mind at all. She knows my goals in life don't center of material wealth. My goals involve personal knowledge, my religion, seeing the world, becoming a better person and reducing stress. I hear a lot of women have a immature princess syndrome - I couldn't stand that. My gf has started to like my adventurous lifestyle - she now enjoys saving and trying to do more on less. We are currently planning a trip that involves 4-5 states and camping out in state parks instead of staying in hotels.
Check out some of the minimalist, vegans and tiny house people on youtube. Seems like this sorta "hippy" culture is becoming more popular.
Even in any state with a low COL, including KS, KY, IN, AR, OK, MS, TX, ID, TN and NE (10 least expensive states in which to live according to CNBC), $20K/per year makes for a very menial lifestyle.
I'll pass.
I would say my lifesyle is similar/better than many people making $75k+. Heck, I wouldn't trade it for the life of a lot of people making $100k+...especially those that work 60+ hrs/week to get it.
If you can't live comfy in those states on $20k with no house/car payment/debt - you must be spending frivolously. But hey, some people have trouble living on 100k.
- $20,000/yr passive income (increasing with inflation)
- modest home paid off (1000-1500sq ft)
- fuel efficient car paid off
- no debt
- low cost of living part of the US
With an income of $20k/year, health insurance can be had for free (Obamacare).
A modestly sized home of say 1000 sq ft (not small in most countries or even the US 40+ yrs ago) will allow for low utility cost, low property tax and lower maintenance cost.
If a person locates near a decent sized city (50k+) they may even be able to walk/bike/use public transportation.
Here is my personal expenses:
Rent $0
car payment $0 (for the next 7-8 years)
Food $325/month (includes eating out a lot)
Utilities $225/month (includes required $50 cable tv package)
Gasoline $60/month
Cell with unlimited data $40/month
Gym $20/month
Car insurance $60/month
Property tax $67/month
Health insurance $38/month (could get a bronze plan for $0)
home insurance $50/month
clothes/haircuts $30/month
home/car maintenance $??/month
travel/vacations ??
total: $915/month -- as low as $850 if needed.
That's about $11k/year which gives me a cushion of about $9k/year. I also have savings which can be tapped in an emergency.
I don't like work, schedules, mornings, bosses, responsibility, feeling replaceable, consumerism, etc, etc.
I do like coming and going as I please, sleeping until noon, hanging out at the pool, traveling, women, reading BS on the internet, playing basketball, working with my hands once in a while, etc.
Anyone else want to join me?
There are blogs that espouse the same thing such as:
I think 20K is a little low, but if you can semi-retire and just work part time then it can work. However, you do have to have a purpose in life besides reading BS on the internet & sleeping late if you actually want to be happy. You have the right idea here, but most people get bored/depressed with the short list of activities above. Although working with your hands could lead to something interesting.
Yawn, what a boring life that would be. Not near enough for entertainment, I easily blow $200 a weekend on drinks. Food also has a low budget, what are you eating, noodles only? McDonalds?
No thanks, have at it, enjoy.
You're ridiculous. People all over the world know how to be happy without blowing money on food & drinks. It's called having real relationships with family and friends. Consumerism creeps in when our collective ties to each other are weak.
A paid off house really frees you up. It's no different from the way people lived just a few decades ago when they didn't throw their money around on wasteful things that they don't need.
I like women. Living like that can block the loving. Life is go lived as be as best you can, not survive.
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