Investing

[mangyhyena]

I know there are a lot of things you can invest in---401K, individual stocks, gold, silver, ect...

But what about investing in things that will cut your cost of living? Wouldn't that make more sense, in some situations, than trying to accumulate one million dollars by retirement so you can cruise through your golden years living off the interest which may or may not remain stable?

The types of things I'm talking about are a small homestead that is completely paid for, alternative methods of generating electricity, a well for water, livestock and gardens to reduce the food bill, and possibly some way to process your own fuel as with bio-diesel so as to reduce money spent each month on fuel.

I would like to get my cost of living down to $600 or less per month. To do this I need to invest in the above mentioned things now so that in retirement I will not need so much money to live. While I do invest in stock and a 401K, I'm more interested in investing in things that will reduce my need for money each month. BTW, I'm 37 years old now, so I've still got time to set my family and I up.

Anyone else going this route? If so what are your plans?

[JBinKC]

I am implementing a similar plan in a couple of weeks where I will permanently live at my Lake of the Ozarks home and take a year off. I just gave notice at work and will winterize my urban home and will spruce it up for sale in the spring. Fortunately, I think one of the keys to getting ahead is the avoidance of debt which I have done by trading down in real estate from past gains of real estate I had previously owned. Regarding the investment going off grid electric I think the net payback is still negative for most instances so I don't plan on putting my investment dollars there however I did put money into a EPA wood burning stove at my Lake of the Ozarks abode and no trouble obtaining wood for the cost of operating a chainsaw.

[mangyhyena]

JBinKC, congratulations. Sounds like a good plan. Bet you love living there.

I agree that going off grid, considering the prices of electricity right now, would take quite a while to pay for itself. But in time I believe it can pay for itself. The real cost, IMHO, is the effort one has to put into making the electricity when living off the grid. Personally, I believe that in the future electric prices will spike much like gasoline prices recently spiked. If the cost of electricity goes up then I think living off grid will be a more favorible option for more people. But who knows?

That wood burning stove is going to save you a bundle when heating your home in the winter. Good move.

[gump]

The types of things I'm talking about are a small homestead that is completely paid for, alternative methods of generating electricity, a well for water, livestock and gardens to reduce the food bill, and possibly some way to process your own fuel as with bio-diesel so as to reduce money spent each month on fuel.

I would like to get my cost of living down to $600 or less per month. To do this I need to invest in the above mentioned things now so that in retirement I will not need so much money to live. While I do invest in stock and a 401K, I'm more interested in investing in things that will reduce my need for money each month. BTW, I'm 37 years old now, so I've still got time to set my family and I up.

Anyone else going this route? If so what are your plans?

IMHO this is an excellent idea. Given the huge runs in real estate/stocks + ultra low interest rates, I think everyone here should be looking for similar ways to save $$ via personal investments. As returns slow & maybe drop in traditional investments - stocks & real estate, it may be the best way to continue growing our nest eggs. I know investments are not meant to be part of the traditional self-reliance theories but it sure helps to have that part covered :).

[ryanmercer]

JBinKC, congratulations. Sounds like a good plan. Bet you love living there.

I agree that going off grid, considering the prices of electricity right now, would take quite a while to pay for itself. But in time I believe it can pay for itself. The real cost, IMHO, is the effort one has to put into making the electricity when living off the grid. Personally, I believe that in the future electric prices will spike much like gasoline prices recently spiked. If the cost of electricity goes up then I think living off grid will be a more favorible option for more people. But who knows?

That wood burning stove is going to save you a bundle when heating your home in the winter. Good move.


I love seeing people talk about how gas prices spiked here in the U.S. Not many people realize we pay about 1/4 as much for a gallon of gasoline as the United Kingdom does, and far less than 1/4 compared to some other nations.... which should scare the pants off of everyone, when the rest of the world is paying 4x or more what we are for gasoline, it means it is only around the corner for us :( .

[nightshift]

Mangey,
I am with you 100%. We've been working to pay off debt at my house and are getting there. A financial hurdle set us back but we will recover. Car and student loans paid off. Owe a little on the van but not spending extra right now. We want to get the house paid off early too. I will be back looking at land soon. Even a couple of decent acres will be better than my puny 1/6 acre lot.

We are stocking up on the usual items for shorter term emergencies. I would love to be at the point you are. Some famous dead guy....Rosevelt maybe, said "there is no better unemployment insurance than an acre of good land". Good Luck. I've been in your new area....beautiful.........

[tufhelp]

Sniff, sniff, sniff... There it is again... I'm definitely sniffin' SPAM!!! With a healthy serving of pyramid on the side...


THANKS TO ADMIN, THE SPAMMER THAT POSTED HERE HAS BEEN REMOVED!!!

[torenghout]

land is the best investment I've ever made, buy what you can afford.