You can quit selling your time and toil for money and dedicate yourself to doing exactly what you want:
- If you are able to figure out a situation where you (and your dependents) can today live with an adequate quality of life for 500$ per month (= 33000₹ in 2016) [this is just an example – plug in any number you like],
- if you (and dependents) expect to live x years,
- if you have accumulated 500*12x = 6000x dollars (eg. 420,000$ for 70 yrs) – or if you go by the 4% annual safe withdrawal rate logic – (6000/.04) = 150000$ (for how many ever yrs),
- if you can grow that money at least at the rate of inflation in your place of residence
- (by investing in fixed deposits, index funds, gold, land etc..)
- if you are willing to either face a worse quality of life or are willing to terminate yourself if expenses rise unexpectedly high relative to resources.
What does an adequate quality of life mean to me?
- Clean air, clean water, nutritious food, comfortable housing, comfortable clothes (suited for the place of residence)
- health insurance
- physical security
- electricity, good internet connection, a tablet, smart-phone, computer, books
- freedom to openly pursue scientific, technological and aesthetic/ spiritual interests, and benign-according-to-my-worldview advocacy (PS: this eliminates Islamic countries)
- access to the sky, earth, trees and good people.
- This assumes, of course, that your valiant attempts at earning an adequate living doing exactly what you like have failed so far (eg: owing to family projects, rotten organizations etc.).
- Excellent education for children up to pre-university level: Even if you need to hire people to do this, this costs at most 1-2k$ per per year = 12-24k$ total in such places per child. Ideally, by that time, the child should have adequate skills to gather money for a similar lifestyle in the economy of its time. Or it should be able to acquire such skills by its enterprise.
- (USA specific) 25x annual expenditure = 7% growth – 3% inflation = 4% is annual expenditure rule money mustache article.
- This implies a 1,200,000$ savings in USA for a 4000$ monthly expenditure (as of 2016).
- Success rate can also be estimated here: http://www.firecalc.com/
- Places with low costs of living
- Silicon Valley’s FIRE movement (doing similar “geo-arbitrage”)