T
Terry Given
Guest
"Mark Fergerson" <nunya@biz.ness> wrote in message
news:qBqrc.755$PU5.521@fed1read06...
[snip stuff I really dont care about. I mean come on, all governments screw
people ;]
That is brilliant. I too have done a similar thing. Hell, I even grow some
of my own food, and am in the process (after I make a cool $150,000
subdividing a couple of sections off my property, which wil pay off the rest
of my mortgage) of setting up a nice little avocado orchard ($3 each at the
supermarket - theres gold in them thar trees). After that comes the
greenhouse. And I set up a small market gardening business to sell my
produce (that I really only intend for myself). I dont want to make a
profit, a loss would be better - after all, I will incur the expenses
anyway. This way it comes off my income before tax is calculated.
I pay very little tax, as I only do enough work to earn what I need (I try
to keep my taxable income at about $40,000). If I earn too much, it gets
"invested" in plant - a nice lathe is next on the list, followed by a
milling machine - so comes off my pre-tax income. Essentially I am moving
myself sideways out of the economic system, which I can then cherry-pick at
my leisure. I sure am lucky I have high-tech skills; Joe average cant do
this. I used to pay a lot of tax, and cant tell the difference now in terms
of benefit received.
My medium term plan is to take the money I have earned from smart property
investment, and buy a 100acre farm (I will be able to afford it freehold
when I sell this place next year), then turn around and lease 90 acres for
grazing, thereby obtaining a work-free income of about $30,000 per annum - a
lot better than leaving the cash in the bank. (I also plan on buying
something above 50m elevation - hows that for long-term strategic
planning?). By making myself entirely self-sufficient in terms water, food
(kill my own goats/sheep/pigs/chickens/rabbits), sewerage and electricity
(quite feasible but needs capital) my overheads become negligible, and I can
do even less paid work. sloth is good.
Cheers
Terry
news:qBqrc.755$PU5.521@fed1read06...
[snip stuff I really dont care about. I mean come on, all governments screw
people ;]
Mark,I keep saying "Act Locally" but you don't get it. Hint: I
don't own a car. I have ordered my life so that I don't need
one, hence I don't need "Big Oil"'s products. I just don't
care what the price of gasoline is. Why do you?
Mark L. Fergerson
That is brilliant. I too have done a similar thing. Hell, I even grow some
of my own food, and am in the process (after I make a cool $150,000
subdividing a couple of sections off my property, which wil pay off the rest
of my mortgage) of setting up a nice little avocado orchard ($3 each at the
supermarket - theres gold in them thar trees). After that comes the
greenhouse. And I set up a small market gardening business to sell my
produce (that I really only intend for myself). I dont want to make a
profit, a loss would be better - after all, I will incur the expenses
anyway. This way it comes off my income before tax is calculated.
I pay very little tax, as I only do enough work to earn what I need (I try
to keep my taxable income at about $40,000). If I earn too much, it gets
"invested" in plant - a nice lathe is next on the list, followed by a
milling machine - so comes off my pre-tax income. Essentially I am moving
myself sideways out of the economic system, which I can then cherry-pick at
my leisure. I sure am lucky I have high-tech skills; Joe average cant do
this. I used to pay a lot of tax, and cant tell the difference now in terms
of benefit received.
My medium term plan is to take the money I have earned from smart property
investment, and buy a 100acre farm (I will be able to afford it freehold
when I sell this place next year), then turn around and lease 90 acres for
grazing, thereby obtaining a work-free income of about $30,000 per annum - a
lot better than leaving the cash in the bank. (I also plan on buying
something above 50m elevation - hows that for long-term strategic
planning?). By making myself entirely self-sufficient in terms water, food
(kill my own goats/sheep/pigs/chickens/rabbits), sewerage and electricity
(quite feasible but needs capital) my overheads become negligible, and I can
do even less paid work. sloth is good.
Cheers
Terry