Sunday, June 12, 2022

How to live for free

Today I will tell you how to live for free. No, it is not living with your parents in the basement. You can do much better than that. My advice is to buy a big house with two seperate entrances. One side of the house is yours and the other one must be rented out. All you need to do is take a rent which equals the ammount of your expences like mortgage, interest, electricity, water and trash. I wish I knew this before buying my first home.

Another tip I have is much more expensive. If you are in your 20s or 30s you can start saving in the stock market. With dividends reinvested and high savings rate you could save millions in 30-40 year period. Those millions give around 3-4% in dividends every year. Use that money to live for free. Hundreds of people already doing it and its called FIRE (financialy independant, retired early). Is it easy? No. Is it possible? Yes.

There is also a possibility to buy a huge house with 4 apartments and rent the whole thing out. From the profits you should be able to live for free in your own home. Just like the other two advices, a massive capital is required. A lot depends on your living expenses as well. The more frugal you live, the easier it is to live for free. 

The whole point of living free is to make someone else to pay for your expences. Imagine Harry Potter books. Now the writer is collecting royalties without doing anything. She put in the work at the start and now its done. Same with investments, both real estate and stocks. 

Another great advice I have is for single people. It will not make you live for free but it is close to it. Imagine you find a person you love, you move in together and at the same time everything becomes half price for you. Since you live together, most things you buy or do is shared in half. Rent, a new TV, a car, food and stuff, everything is much cheaper for you now. Isnt it amazing? It is even possible to marry rich and never work again, but that is just mean, or what do you think? 

People are made to work, one way or another. I believe it would be boring not to do anything. Find your passion instead, there must be something you love doing. Make it a hobby, make it a job, make money from it. Me and my wife have many hobbies and all of them gives us money. Some more, some less but in the end, its a good hobby to have.

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  1. Love this! Great advice. However for me personally it would not be an ideal situation to have tenants in the same house as where I live. If I would buy rental property it would have to be a separate house. Investing is very good advice as is moving in with a partner that has the same goals as you and to not increase expeses as many tend to do as their income grows (The Two Income Trap). Have a lovely Sunday!
    Kind regards,

    1. My wife is not that happy of having tennants either. I hope to change her mind someday, it would be nice to live for free... :)

  2. Anonymous12 June

    good post