Quote: (01-31-2016 06:28 PM)Onto Wrote:
One thing to consider is there may come a point where you just can't work anymore. Not just physically, but psychologically. I'm at that point now with software consulting. I just can't stand it anymore. Maybe if I take 4 months off I'll have the desire to do it again for a while. I don't know, but I do know my current gig will be my last for a while
Nasa is right about needing to feel psychologically comfortable with the money you have, but we won't know what that is until we just dive in and start swimming and sometimes you just have to make do with what you have anyway. I don't want to waste the rest of my mid-late 40s in a cube working on yet another shitty project with shitty people.
Minimum monthly expenses for most anywhere in the world is going to be $1,000/month. You can get by in many pussy-paradises with that. Won't leave much for extras, but if you want to bootstrap for a while it's do-able and in some places for less than that.
The main thing is developing the three things necessary to keep your boat afloat.
1) Passive Income
2) Savings
3) Low Expenses
Even if you're in your 20's you should be building your ark, because you never know when the storm might come.
This is spot on. I will add that there is a trade-off between building up a large nest egg and putting up with bullshit at work for those of us who weren't born into rich families.
You can bust your ass until age 60 and become a multi millionaire if you have a decent job and know how to handle money, but where is the fun in that?
Alternatively, you can retire in your 40s or even 30s with a fraction of the money and live within your means.
Also, why would anybody choose a place like New York to live as a location independent person is beyond me. New York is good for two categories or people: those who make good money and those who live on government benefits. If you are anywhere in between, you're better off elsewhere.
I could live even on 1K/month in today's dollars in many places in SEA. This kind of life would be quite boring and monotonous, but better than the life of some poor soul who is struggling in New York on say 50K/year.