i dont have anything major to add,
but market volatility is easily avoided by buying residential real estate, since the rental rates will basically rise and fall with your cost of living.
i think living off the 1m can easily be done, and it wouldnt be nearly as terrible as some poeple seem to think it would be.
there are tons of cheap hobbys.
one that stands out is the internet. countless communities where people get around to talk about whatever the **** they want to. even henry - the guy who supposedly has the dream, stress free, balling life spends a significant portion of his day browsing this forum. there must be something to it.
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I think someone with a job can live on $30k. It is the lack of a job that causes the problem. I don't work. I haven't worked or gone to school for ten years so I have a good idea of how much time we are talking about. Having a job not only fills up a lot of time it also fulfills the need to socialize as you interact with co-workers. Being at home alone unless you are some extreme form of introvert is going to be unbearable but the second you leave the house you are burning money and at $10 a day you are not getting far.
i think there are a lot more things to do than you think.
im starting to get into playing squash at the recommendation of a friend who, for a stretch of time, played almost every day.
just at a local club with a low monthly cost, and the equipment is dirt cheap... and he has something that fills a lot of hours.
i can easily see some friends just playing music their whole life, learning to play songs, writing music, etc.
other people organize advocacy groups for whatever their issue de jour happens to be. or volunteer to feed the homeless. or whatever.
i have family members who live in a rural town because he like to go fishing/hunting all the time. minimal expense.
i have friends that spend ridiculous amounts of time watching tv series. they follow like a dozen different series, and have a regular schedule of what to watch and they try to never miss an episode. personally i cant stand watching that much tv, but i've gotta imagine there are plenty of people who wouldnt mind it.
and, as someone without a 'real' job - i can say that i fill a lot of my time sleeping.
anything less than 10 hours just feels wrong.
Last edited by Abbaddabba; 01-11-2010 at 07:33 AM.