I have been reading many different ideas from all kinds of perspectives...

I have been reading many different ideas from all kinds of perspectives, and I have finally come to a point where I've decided upon my own views and how I will act upon them
We are all, for the most part, working class. I do not care if someone is a white-collar professional such as a lawyer or MD, at some point if they do not continue to work the realities of life and bills will catch up to them. I do not wish to be part of the proletariat, stuck in the perpetual cycle of wage-slavery.

As for the here and now, what I have done to start myself towards this goal is I've embraced the lifestyle of minimalism. I already am selling & donating most of my material things.

Now, what do I have to do to generate passive income?

My plan
>over the course of 7 years or more, generate over 100k in savings
>find a way to generate passive income
>eventually buy two plots of land at different points in the country, within a couple hours driving distance of major hubs for the sake of eased international travel

Living in minimalism means you won't have any assets or estate. You'll depend completely on your one and only income.

So, passive income is a bit of a meme.

Generally, you should pursue capital appreciation first, then once you're ready to turn on the income tap, you switch your assets over to income producing and go with that.

But, you can do both at once through investments like dividend stocks or real estate, where your capital can grow while you get a bit of cashflow.

I'll be online for a little while, you can ask me questions if you'd like.

Everyone works for their money, even the billion dollar CEOs who everyone thinks just sits back in their office chairs doing nothing have to make calls, attend meetings, make decisions.

This whole proletariet/bourgeoise meme is outdated.

I suppose you have a point there, I guess what I'm trying to say is that I am not going to cave in to anymore impulse purchases and focus more on savings

I actually use a passport so I wasn't LARPing or trying to be epic when I mention the two separate plots of land.

I am in my second year of college, but I have a totally free ride even through graduate school. I don't know what to get for my BS, but I am planning to go to law school once I finish. My plan is to either live as frugal as possible, and if I should get hitched then to find a partner who would be willing to pursue this with me (which would also lessen the time required to save 100k)

How do I even into investing?
I don't know jackshit about this and I'm not going to stick my nose up and pretend I do - I'm just another college kid.

My plan so far was to put the 100k into a high-interest savings account once obtained, and also have enough money to start putting into a Roth IRA for retirement.

How do I even into investing?
How do I recognize what is considered a high and low risk investment? I've head those government bonds are no longer a good idea, but that CDs are something to look into?

this is nitpicky but is there a reason you said two "plots" of land? you just mean two houses, or you plan on buying just the land and building there?

>I've embraced the lifestyle of minimalism.

Have you really though? I understand that its a cool concept but can YOU actually live like that? If you're in the process of selling all your stuff it sounds like you've not even tried it yet.

Seems like an interesting experiment though.

it is completely possible to embrace some concepts of minimalism without going full retard

Yes, I am not trying to be funny, I really meant two houses

I would have one principal home, and one main home. Ideally one in the midwest for access to NY and Chicago, and one in the south, possibly Alabama for access to ATL, and Florida?

Maybe that is counter-productive, but I feel that I would be able to afford that. As mentioned in my previous post I have a totally free ride through college.

You have a point, and I agree with you to some extent, but does what I said not still stand either?

Imagine if you just quit your job right now. How many months would it take for you to deplete your savings?
Would you be able to live without employment?
That is my goal

What got me into this is seeing the suffering of those around me, and recognizing that my education is 100% free, why the fuck not shoot for early retirement?

*(I'm looking at you Alaskan bush-people)

>one principal home, and one main home

..........

You have a point there and I've also observed the quiet misery of those around me.

I have a friend who is actually planning for early retirement (he's 35 now). But he's doing it through a 403(b) retirement plan where the employer matches your investment in the plan. He estimates he'll be able to collect $80k/yr after 15 years of working.

Bro what the fuck are you talking about. Get a job, get some income generating properties, use that as leverage to get more properties and then build equity until yoy can cash out and retire. Damn you are pretentious.

fuck, that is embarrassing
one that is my primary dwelling, one that would be very rural and small, even possibly a poured concrete home or prefab home like the OP pic

>Have you really though?
somewhat, will sage this because I'm about to attention whore

I just blew through all my money I had, 7k.
I suffered a leg injury in feb. 2015 and left it untreated until dec. that year while working throguh pain, and I quit my job and am staying at home with my parents since January.
I began to feel depressed not working, and all of the money I had saved I gradually began to waste on consumerism and impulse.
I am still unable to work until next year, so I have no way to earn it all back. I did a lot of overtime, and would work often.

Then two months ago, I discovered theminimalists. I was recommended it by another user. I didn't take it seriously until this month, and I've started going through all my material possessions and intend on selling all that I can. I've made $300 so far, and I have thrown bags of stuff away, and donated clothes etc.

What I mean is you don't need 2 homes, you need income generating properties.

how do I do that?

Is it as simple as buying a house in a suburb and subletting?
Becoming a franchisee of a chain?

Don't be a dumbass. Living life in this "minimalist" ideology means your life indeed is meaningless in and of itself.

You're young. You've got years ahead of you. Make sure to live life to the fullest and helping other people along the way. Helping others is why we exist as a society and is deeply ingrained in our very own DNA. Being a hermit out in the middle of nowhere and living off passive income is a bit retarded. If you felt depressed now, not contributing to society by being unemployed what then? You will find no meaning, no motivation to keep going. You will just, exist. How is that fun?

minimalism is to me is efficiency, lack of waste and a way to concentrate your time/energy/attention. its a method of organization and productivity, not a fashion trend

This.

Getting rich isn't about money or materialism.

It's about insuring your wealth grows several times more than your living expenses and u hold things of value rather we Zimbabwe or go to the moon. He who has toilet paper and beer in a disaster is king. Why take 3 grand I cant use or spend

Tell us of your real estate.

Slum lord here trying to not be.

you are full of shit, kek

Well, not much to say. I was in a certain sense a slumlord for awhile since I was in Sec8 housing, though I hate that word. I treated all of my tenants with respect and got it back. It was actually really good to me, though, and the tenants were very good. But, I'd like to think I'm pretty good at screening, or I was when I was managing my own places.

But, the neighborhood started to turn worse and the equity in my places went way up, so it made sense to sell and I redeployed the cash into out-of-state purchases as well as RE notes.

Now, my investment income is pretty passive.

Worked a tech job for a long while while I was more actively investing, which is where I got the cash. Still working a contract, but it's now short-term and only until I can figure out my next move. I really want to get into RE full-time, but I'm not sure what that would look like yet. Ideally, I'd like to run my own fund, but I'm still investigating how to do that.