How much per year?

[starshard0]

At this point I would probably prefer living "off the grid" so to speak, but I'm open for anything if it saves money. As far as living, I've been looking at building a tiny house that runs on solar and wind energy. I wouldn't mind having vegetable plots and maybe even some animals. At this point that sort of life is far off for me, since I have to finish out my contract in the Army and then go to college. But after that I should have a good deal of money saved up to try out a few ideas.

[KevinW]

Happily a lot of people share your goal, so there are plenty of resources for this sort of thing. Have you seen Earthships or this post on Tiny House Blog?

Somewhere I saw that a few states still have some form of homestead program going, where they will give you some very remote, unsettled land virtually for free if you commit to settle there for a few years. I can't seem to find that link at the moment.

If you make a detailed plan for all the materials you'll need, and find a local storage space, you could start scavenging from ReStores, Craigslist, Freecycle, and thrift stores. You could probably get almost all the parts and tools you'll need very inexpensively that way.

I'd think about both a large vegetable garden and a protein source. For the latter, popular choices seem to be chickens, turkeys, rabbits, goats, or an artificial fish pond.

I'd also consider learning about this sort of thing when you get to college. You might be able to get a minor or second major in a subject that's relevant to all this. That would also give you an opportunity to try out some of these before you get to the "point of no return."

[Kathryn]

I think one thing you should not leave out of the equation, if you're planning on the long term, is health care.

A healthy unemployed 35-yo could probably live a simple life on 12,000 year in many places without much difficulty. But what are you going to do 20 years down the line and you're dealing with typical age-related aches and pains and no access to Medicare? And what will you do at 75, even *with* Medicare, and you find that medications alone are costing you several hundred a month?

The worst part of it is, that when you look at the long term, you have to take into consideration the fact that medical expenses are rising faster than the overall inflation rate. So while you may be able to safely use an inflation rate figure of 3.5% or 4.0 to figure out how much you need to live on long term, that may not be enough to keep pace with rising medical costs. And if part of your frugal lifestyle in your 30s and 40s involves minimizing medical spending, you may wind up paying for it in the long run.

[starshard0]

When it's my time to go, I'll go. I don't need modern medicine to keep me alive forever.

[Cubicle Person]

Originally Posted by starshard0

When it's my time to go, I'll go. I don't need modern medicine to keep me alive forever.

Yes, but I would hate to die a horribly painful death because I didn't have an extra $100 a month available for medical care. Or have a hospital take everything I managed to save to pay the bill for a broken leg and rehab because I decided to not pay for insurance.

I am planning on early retirement, but I want to make an attempt at covering medical costs. There is no way of knowing for sure how much will be needed, but I can do better for myself than just saying I won't need anything.

[starshard0]

That's a good point, and it's one of the reasons I'd like to save up a lot of money before I retire, so I can use it if I need it for something like that.

[Xin Lu]

I think without the worry of healthcare costs you need very little to live. Especially if you move to a cheap country like Thailand where food and housing are very cheap. My inlaws just moved back to the Philippines and I think they live very well on less than $800 a month for two people. It really depends on what lifestyle you are comfortable with.

[starshard0]

I'm not sure where I'd be interested in living. I think at this point I'd prefer to live in the US, but if there are nice places that are available on the cheap outside the country, then I'd certainly be willing to look into them.

[manageME7]

• Planning for retirement really requires a systematic plan. Need post retirement may vary from person to person. The basic needs may be a house to live, meeting monthly needs in terms of food, clothing etc.
  Savings should be done according to the years left for retirement. Assuming 3% inflation increase over the time one should find out a proper plan.
  Also one should eliminate his debt faster so that he can live a smooth financial life post faster.

Life is so simple, do not make it difficult. Just try to manage yourself.

[manageME7]

• Planning for retirement really requires a systematic plan. Need post retirement may vary from person to person. The basic needs may be a house to live, meeting monthly needs in terms of food, clothing etc.
  Savings should be done according to the years left for retirement. Assuming 3% inflation increase over the time one should find out a proper plan.
  Also one should eliminate his debt faster so that he can live a smooth financial life post faster.