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I have a number, well 2. The first being a stepping stone, a marker to reach, the point where I can step back for a year, re-evaluate and consider if I want to

I have a number, well 2. The first being a stepping stone, a marker to reach, the point where I can step back for a year, re-evaluate and consider if I want to shoot for the next target. Neither of the numbers are high, the first with some savy investments I could make last the rest of my life but I'm a relatively simple guy, I could live on ~12k a year easily. That includes rent, bills, food, clothes etc. For me, it's not about stopping work. I generally love the things I do, the projects and concepts I develop in my spare time. For me, that's not working, it's a passion. My second number is all about that, it's about being able to buy the ability to do what ever the fuck I want. Ideally I want a nice plot of land in a relatively remote area with some workshops and enough in the bank where I don't have to worry about bills and I can fund whatever project takes my interest.

conwy 9y ago
Yep, I have the same goal. If/when I manage to get to $600k (~12k p/year assuming 2% yield) I'll take 3 months totally off work of any kind, just recuperating, then another 3 months to plan out the rest of my life.
- nickthemagicman 9y ago
  Isn't inflation 3% a year?
  - conwy 9y ago
    Don't depress me please :(
    - sl8r000 9y ago
      I still think 2% cash yield is reasonable. Say 5% gross, 2% to inflation, and 1% (1/3 of the remainder) to taxes. Leaves 2% to spend.
- lorenzq 9y ago
  Why would you only have 2% yield?
ladberg 9y ago
Just curious, where do you live where 12k a year is enough for everything? That doesn't even cover rent in the Bay Area.
- conwy 9y ago
  Bay Area is one of the most expensive locations in the world. Been living in London and 12k USD (8.5k GBP) is roughly doable even here. Obviously not luxurious living, but doable.
- jamocon 9y ago
  London, UK. As conwy mentioned, it's not luxurious but it is doable. It helps I'm not really all that social, I don't like crowds, nor wasting money. Don't get me wrong I've done my fair share of both and I still go out once a month, but I have a limit on what I will spend because trust me it is far to easy to go into central London and end up spending a ridiculous amount of money. Most of my socialising in the past 6 months has been staying in or going to a friends house. A couple times a week, we will cook each other dinner, maybe have a beer and generally just relax. It's basically a "habit" now and 1 that I really quite enjoy, all of our cooking levels have improved and we experiment a lot both with simple dishes and different styles. There's only been 1 occasion when we've all said no and thrown it out, admittedly my fault. I seriously misjudged some chillies, lol. Also, as cowy said the bay area is 1 of the more expensive places to live. You make a choice to live there, I know it might not be that simple, but it is a choice none the less. If travellings your thing, on a 12k/y budget you could do most of Europe, Asia and probably more. I did the calculations once when considering travelling for a couple years, of course your not going to be staying at 5* hotels in a gated community, fine dining, but that imho isn't travelling.
  - ajeet_dhaliwal 9y ago
    I live in London and do not understand how you could possibly manage on 12k a year unless you live with your parents or own your home outright and pay almost no bills and/or barely leave the house. You says it’s not luxury but I’d say it’s barely a step above poverty, how can you manage and what part of London do you live in? You must have to watch every penny and it must totally miserable or I just don’t understand anything at all. Can you describe your life in general? What sort of food do you eat? Do you have children?
r0brodz 9y ago
Most people need something to do. Idleness just degrades existence and accelerates dis-ease. A simple mind is a key skill to survive our current situation filled with so much conflict.

conwy 9y ago

Yep, I have the same goal. If/when I manage to get to $600k (~12k p/year assuming 2% yield) I'll take 3 months totally off work of any kind, just recuperating, then another 3 months to plan out the rest of my life.

nickthemagicman 9y ago
Isn't inflation 3% a year?
- conwy 9y ago
  Don't depress me please :(
  - sl8r000 9y ago
    I still think 2% cash yield is reasonable. Say 5% gross, 2% to inflation, and 1% (1/3 of the remainder) to taxes. Leaves 2% to spend.
lorenzq 9y ago
Why would you only have 2% yield?

ladberg 9y ago

Just curious, where do you live where 12k a year is enough for everything? That doesn't even cover rent in the Bay Area.

conwy 9y ago
Bay Area is one of the most expensive locations in the world. Been living in London and 12k USD (8.5k GBP) is roughly doable even here. Obviously not luxurious living, but doable.
jamocon 9y ago
London, UK. As conwy mentioned, it's not luxurious but it is doable. It helps I'm not really all that social, I don't like crowds, nor wasting money. Don't get me wrong I've done my fair share of both and I still go out once a month, but I have a limit on what I will spend because trust me it is far to easy to go into central London and end up spending a ridiculous amount of money. Most of my socialising in the past 6 months has been staying in or going to a friends house. A couple times a week, we will cook each other dinner, maybe have a beer and generally just relax. It's basically a "habit" now and 1 that I really quite enjoy, all of our cooking levels have improved and we experiment a lot both with simple dishes and different styles. There's only been 1 occasion when we've all said no and thrown it out, admittedly my fault. I seriously misjudged some chillies, lol. Also, as cowy said the bay area is 1 of the more expensive places to live. You make a choice to live there, I know it might not be that simple, but it is a choice none the less. If travellings your thing, on a 12k/y budget you could do most of Europe, Asia and probably more. I did the calculations once when considering travelling for a couple years, of course your not going to be staying at 5* hotels in a gated community, fine dining, but that imho isn't travelling.
- ajeet_dhaliwal 9y ago
  I live in London and do not understand how you could possibly manage on 12k a year unless you live with your parents or own your home outright and pay almost no bills and/or barely leave the house. You says it’s not luxury but I’d say it’s barely a step above poverty, how can you manage and what part of London do you live in? You must have to watch every penny and it must totally miserable or I just don’t understand anything at all. Can you describe your life in general? What sort of food do you eat? Do you have children?

r0brodz 9y ago

Most people need something to do. Idleness just degrades existence and accelerates dis-ease. A simple mind is a key skill to survive our current situation filled with so much conflict.