by davep » Fri 26 Mar 2010, 17:14:59
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')And what have you genuinely accomplished in the last five years apart from hoarding wealth?
First it’s not called “hoarding wealth”. It’s called preparing yourself financially so there is no dependency on others for money. Freedom from a working for money, freedom from debt, and the freedom to buy whatever I need/want to buy without worrying about money.
Major Accomplishments Bought over 135 acres of hill country ranch land, free and clear (aka paid cash), for our future homestead which is almost 900 miles away from our current home in SoCal.
So far saved over 85% of my goal needed to be able to live off of interest/dividends at my current salary rate using 4% yield (which is quite a low yield but I like to be conservative). Barring any major financial catastrophe or major personal emergency then we should reach our goal in 7 years. This will allow us to maintain my current level of income without having to work for money or touch the principal investment. Since we will be greatly reducing our costs of living then we should be able to save money each month further growing our principal.
Random Minor Accomplishments Cleared 60 acres of the flats and controlled burned
Drilled 2 Water Wells
3 3,000 gallon Water Tanks
John Deere 4000 Series Utility Tractor
1 Month Worth of Stored MH Food and Water
Vegetable Gardening for around 12 years
Organic gardening for 2 years
Seed Saving for 2 years
Growing fruit trees for 3 years
Composting for 3 years
Vermicomposting for 6 months
Raising fish for 2 years
Small & Big game hunting for 13 years
Fishing for more than 15 years
Skilled in butchering small & large game, foul, and fish
Well done. But, if you have your place bought outright and can grow your own food, why would you need to continue to have your current salary yield? To a large extent, living sustainably and practically involves reducing your perceived dependency on the material goods that make us consumers. It's liberating.
As a proviso, I did tried achieving that liberation when I bought the current place, but didn't have enough capital behind me to get over the hump. So I'm back in work, but I've set myself a limit of two more years before I go home definitively and carry on my endeavours full time, this time with a more realistic approach.
Just be careful, because the pursuit of enough capital to make you safe can become a goal in itself, and it's a question of knowing when to stop before you become someone you don't recognise.