SubscribeHave you ever wished you could just step out of the rat race and start living a simpler, self-defined and more fulfilling life? It’s been a topic on my mind, on and off, for years now.
I envision a life “of the earth”: connected to my surroundings. Living in a low impact way, off the grid and in tune with nature. I’ve read homesteading websites, [Mother Earth News](http://www.motherearthnews.com), various books but nothing seems to tell you how to go from the typical North American norm (demanding job, good salary, mortgage and debt) to my ideal (job is living, almost no income, no mortgage and no debt).
Strikes me that without some large cash influx it’s a challenge that is almost insurmountable. Sure winning a lottery or coming into a large inheritance solves a lot of life’s challenges, but what if you want to make this change on your own power?
Looking at the numbers, it’s depressing:
- sale of house less mortgage (+300k)
- resolution of debts (-25k)
- good sized piece of land to homestead (-100k)
- build an eco-friendly, off grid house (-100k)
- remainder +75k
Assuming a family of 9 (2 adults and 2 dogs, 3 cats, 1 bird, 1 rat) can live, off the grid and with no debt, for $500 month and property taxes are $2500/year, that remaining next egg would last for 8 to 10 years depending on the interest earned on the egg.
Unfortunately $500 a month is probably unrealistic. Things not factored in there are car and home insurance, something I cannot imagine not having when all you have is invested in your homestead. A car/truck would be absolutely required. So maybe that $500/month is really closer to $1000/month. Nest egg now lasts 5 years.
You say garden to reduce your living expenses. Great idea! But if you can generate more than 10-20% of your food requirements for a year by gardening, I’d be VERY surprised. Especially if you’re in central Ontario. Perhaps if you’re in a warmer climate (say southern BC near the coast) you may have better luck.
So it strikes me that you need an income because you’ll have costs that are beyond your control.
I suppose that a small job can fit that bill – perhaps a few days/week unfortunately this is 100% at odds with the stated goal.
Catch .22 :/
Comments are closed