Does anyone themselves or know of anyone who is young (25 - 40) who lives off a modest amount of passive income or investments. I mean an amount that is maybe $5k a month. Maybe someone who inherited a modest amount or bought some rentals at an early age and just lives off the income from those?
We hear all the time about people who strike in rich in real estate/stocks but I would like to hear if anyone knows the other side.
A few years back I lived on 10K GBP/year in England (not London!). Location was Essex and rent was cheaper then.
car was paid off and old, but I know how to fix things on cars for nothing. Almost never went to restaurants was in the best shape of my life (six pack).
Didn't buy any ties, shirts, suits because I already had a good enough wardrobe. Didn't go on vacation.
oh, I had lots of dates, but no girlfriend. turns out, if you don't eat at restaurants you'll be in better shape. which in turn brings more girls.
10K p.a. was a lot less than what my income and the stock market gave me that year.
If you live a normal lifestyle it is completely feasible. Most spend we have is discretionary and not absolutely required. That year wasn't so boring at all and i kept most of the lessons learned from it. My CoL is still not much higher than back then (better gym, better nutrition now and also more smaller hobbies. )
thanks for sharing, couple questions...how did you eat, how much was rent, where did you go on dates?
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