tag:blogger.com,1999:blog-1694364001063554832.post8771470505895238623..comments2024-03-18T00:42:12.651-04:00Comments on 5 Acres & A Dream: What Can I Live Without?Leighhttp://www.blogger.com/profile/02435811789823712254noreply@blogger.comBlogger37125tag:blogger.com,1999:blog-1694364001063554832.post-32420182204276017442018-05-18T22:17:37.785-04:002018-05-18T22:17:37.785-04:00M.K. I wish we could get our mortgage paid off too...M.K. I wish we could get our mortgage paid off too, but at least we're working on it; a little extra on the principal every month. We're closer to "retirement" than you and hope to get the last of the big projects done within the next couple of years. That will make life easier! Plus building expenses will be behind us. Leighhttps://www.blogger.com/profile/02435811789823712254noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-52054991577483535612018-05-18T15:09:33.960-04:002018-05-18T15:09:33.960-04:00Your post is quite applicable to us, and things I&...Your post is quite applicable to us, and things I've been thinking on long and hard. I think y'all are a bit further along than we are - we're 10 years away. But we also have no retirement investments of any kind. How long will my husband be able to preach? That's a good old-age job :) But our goal now is to pay down our mortgage, to secure housing for our old age. Then, we'll keep paring down our expenses, as you are. And ... I try not to worry. My latest coping mechanism for assist in this area is to tell myself these words: "Today is good." To be content in today. Today I have food and shelter and love and sunshine. I'm not supposed to worry about tomorrow. Thanks for this good reminder.M.K.https://www.blogger.com/profile/09205619221345704689noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-35530786516959828192018-05-09T23:52:21.093-04:002018-05-09T23:52:21.093-04:00Pricket, that's the kind of planning ahead I&#...Pricket, that's the kind of planning ahead I'm talking about! You've laid out a plan that could be helpful to anybody. You bring up a good point about "wealth," i.e. that it doesn't necessarily have to be money. It's more a state of mind, I think. Leighhttps://www.blogger.com/profile/02435811789823712254noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-68580474199724187842018-05-09T21:29:35.936-04:002018-05-09T21:29:35.936-04:00My mother was the oldest of seven children
And 13...My mother was the oldest of seven children<br /> And 13 when the Depression hit. Her mother died before she was 14. Her father and aunts and uncles all had farms and no major debts, however there was no market for the milk and pork they raised and then they were hit with the dust bowl drought. One by one the farms were sold on the courthouse steps for back taxes. There was no cloths little food and 3 families living in the grandparents home. Needles to say my mother taught me the value of a dollar and how to make do and go without. I learned from her the value of Christian love and ethics and the responsibility of helping others. I remember my father saying a house wont build a barn but a barn will build a house. Prior to retiring at 62 I had payed off all debt, had the barn , outbuildings, tractor, equipment, and land. I had planted over the years so had mature orchards, vineyard, gardens and nut trees. I do Back To Eden style gardening and have stockpiled tons and tons of woodchips. Yes a disaster can still occur but I put my money into solid assets and the value has gone up more then the 7% per year of the market and they are directly under my control. I followed my mothers advice and put away enough in precious metals to be able to pay my property taxes for many years when the financial correction occurs. I live on my social security and a small income from a rental property, by Federal government statistics I am in poverty, but by MY statistics I am one of the richest and most blest people in the world. Leigh you and Dan will be head and shoulders ahead of the majority of Americans in the years ahead, you are doing it right.Prickethttps://www.blogger.com/profile/12388548881253679426noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-18350751465585104532018-05-08T12:16:08.351-04:002018-05-08T12:16:08.351-04:00Deborah, those are excellent examples of what I...Deborah, those are excellent examples of what I'm talking about. I'm guessing most people never take the time to actually crunch the numbers to figure it out. When my daughter was old enough to get her driver's license, we told her she'd need to pay for her own insurance. She thought that was fair, but eventually decided to wait on the license. Her reasoning? She figured she'd only need the job to pay for the insurance, and she'd only need the insurance to drive to her job. The circular logic for that wasn't worth the status of having her license. There were no concrete benefits, so she waited until after she graduated college and moved off campus. Leighhttps://www.blogger.com/profile/02435811789823712254noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-1415914454025442412018-05-08T09:28:06.339-04:002018-05-08T09:28:06.339-04:002 vehicles are good, one fills in when the other i...2 vehicles are good, one fills in when the other is under repair.<br />mine is 20 yrs old and john's is 16 but the newer one is going the way of all autos, i think. it is in the shop now. one backs up the other. we could never afford a car payment now and the bank will only finance a used car under 5 years old.<br />as to jobs, i know of women who, after calculating expenses, realized they ere working only to support their jobs, a house they rarely saw, and to the detriment of their kids.<br />two i know quit their jobs, sold the big house, and moved, one just across the river to a lower tax state, and actually came out financially ahead!<br />they also got to raise their own kids instead of after school sitters or daycare. kids much happier.<br />everyone has a different situation but overall is the wife's job worth the hassle and the need for two cars to get to the individual work place?<br /><br />deb harveyhttps://www.blogger.com/profile/05110992898072146282noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-52654875041969105862018-05-03T20:53:44.516-04:002018-05-03T20:53:44.516-04:00Farmer John, I agree it's nice to know others ...Farmer John, I agree it's nice to know others who think the same way and have similar goals. So thank you for leaving a comment!Leighhttps://www.blogger.com/profile/02435811789823712254noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-18022609465079715602018-05-03T17:50:00.613-04:002018-05-03T17:50:00.613-04:00Your post could not have expressed my feelings any...Your post could not have expressed my feelings any better. It's been my life's desire to live simply and rely on old fashioned work and thrift. In this world enough never seems to be enough. Yet no matter how much money and possession's one may have everyone's life still comes to an end. Thank you so much for sharing your thoughts. It's nice to know others feel the same in this crazy world. Farmer Johnhttps://www.blogger.com/profile/00150711564739667840noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-64255529683028277982018-05-03T15:48:57.154-04:002018-05-03T15:48:57.154-04:00Ed, I think that's the only way to go. I read ...Ed, I think that's the only way to go. I read somewhere that folks pay an average of $155,000 in fees and commissions over the lifetime of their investments if they go through someone else. So much better to have that money in your own pocket.<br /><br />Paula, I think you're taking a wise approach. Historically, subsistence farmers and gardeners fare best during economic turmoil. If one doesn't have a source of food, then all the money in the world isn't going to help starving to death. Leighhttps://www.blogger.com/profile/02435811789823712254noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-85843118495701160132018-05-03T11:33:08.123-04:002018-05-03T11:33:08.123-04:00Great post, Leigh. Steve and I have pretty much b...Great post, Leigh. Steve and I have pretty much been doing the same thing- investing in infrastructure, only we don't have five acres- we only have .24! However, we do invest in the market because we're able to, but that's because we've always lived way, way below our means. And that means thinking carefully about what we buy, looking for or asking for deals (the worst that could happen there is they say no, but no guts, no glory, huh?), and growing as much of our food as possible. That last one is tough- I have so much respect for organic farmers! As far as infrastructure investments go, right around seven years ago we invested in a 4.5Kw solar PV system; Steve calculated it all out after I gave him what our usage was, which I got off our bills. At the time, we were able to take advantage of federal tax credits (which I don't know if they even exist anymore) and credits from the Oregon Energy Trust, so the whole system cost us $26K out of pocket, but only $16K after all the various credits. Steve chose to be grid tied because he looked at the connection cost to the electric company as a cheap way to be connected to a really big battery. If things get dicey later, we'll install the rest of it, which I believe would be the battery and the charge controller. Last year we spent money on a length of proper green house film for our hoop house and I rebuilt the ends. It worked really well this winter, and between the brassicas and items in the hoop house, we were able to supplement the grocery bill when things were a little squeaky. This year, I'm extending the chicken coop and re-roofing it, and will build a rabbit house under the new extension. A large garden shed is also planned because we just desperately need one. I'm also installing new raised beds, but instead of building them all at once, I'm building one at a time, and building the soil in it from the ground up by composting in them. Once the first is full (I'm hoping it will be done in time to grow cucumbers and melons it it), I'll build the next one and start composting in it. I used to bring in blended soil, but the last batch was so full of construction debris I swore I'd never do it again. <br /><br />Even though we have investments, I am not relying on them to be there when we need them, and since we paid the house off in 2013, the only other thing I really worry about is not starving to death and health insurance. By eating good food from the yard, I'm hoping the latter won't even be an issue. Unless I stick a spading fork through my boot and into my toe again.Paulahttps://www.blogger.com/profile/16171802310115844104noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-59283825808320027592018-05-03T09:39:10.357-04:002018-05-03T09:39:10.357-04:00Well my grandfather tells me about paying a nickel...Well my grandfather tells me about paying a nickel for a loaf of bread so we are part way there!<br /><br />I was never an expert and still don't claim to be one. What really changed my mind was reading two books. "Millionaire Next Door" by Thomas Stanley was the first one. It isn't really about having a million dollars but is more about what habits people with a lot of money really have. It isn't what most people assume. It is a book I think you could identify with and it really motivated me to become even more of a saver than I already was. The second book is "Bogleheads Guide To Investing" by Taylor Larimore and a few other co-authors. In it he explains essentially why giving your money to financial advisers to invest in the stock market the typical way is a fools errand and how one can invest your own money yourself wisely by using Index funds and gives lots of practical examples. Had I not read either of those books, my life would be much different than it is today. Edhttps://www.blogger.com/profile/13214319366049620074noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-62577947319117652142018-05-03T07:20:07.060-04:002018-05-03T07:20:07.060-04:00Toirdhealbheach Beucail, welcome! And thanks for c...Toirdhealbheach Beucail, welcome! And thanks for commenting. I just took a quick look at your blog and think I will enjoy reading it very much. I think you are wise to plan with that viewpoint. If you end up better off than expected, so much the better!<br /><br />tpals, thanks! I agree that they shouldn't be counted on as one of life's guarantees. Other countries' economic failures are lessons on that. I also agree that staying out of debt is one of the better strategies.<br /><br />Nancy, good point. Those with health and diet issues have a much harder go of it. I'm always thankful for Dan's and my health, while keeping in mind that there's no guarantee on that either.<br /><br />Baili, hello and welcome! I just took a quick look at your blog too and am very interested in reading it. Thank you for sharing your story. People often want to avoid tightening their belts, even for a better goal. You prove that it was well worth it.<br /><br />Ed, so I suppose that means that our grandchildren or great-grandchildren will some day pay a million dollars for a loaf of bread, LOL. It doesn't make sense to me, but I will never claim to be an expert. It's become complicated business, hasn't it, and most people rely on "experts" with no way to analyze whether or not the experts really know what they're doing. One thing I've realized, is that our economic system isn't based on consumerism, it's based on investments. I think that successful economic growth will largely depend on manufacturers and service providers. So many people complain about shoddy quality and service that they begin to turn elsewhere or learn to do without. Without ever-increasing sales, businesses have to look for other ways to keep profits up to investors happy: shortcuts in materials and production, cutting wages, laying off workers, and raising prices. Again, it baffles me how that can go on forever. <br /><br />Mama Pea, well put. So much of it is a mindset, and our kind of mindset requires each of us to actually do some work. Modern thinking admires making money without working. But you and I know that somebody has to do the work! The sad thing is that the actual workers are the ones who are paid the lowest and dismissed the quickest. It's no wonder so many folks are trying to find alternative ways to live.Leighhttps://www.blogger.com/profile/02435811789823712254noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-959739788067662392018-05-02T17:43:50.880-04:002018-05-02T17:43:50.880-04:00The value of the dollar in this country is diminis...The value of the dollar in this country is diminishing so quickly, it's hard to fathom. That's why any extra money we have today goes into our infrastructure here on our little homestead. We rarely purchase anything that is "new." For one thing, much of it is junk, not made nearly as well as the older stuff. We take pains to maintain our tools, equipment, land, buildings, etc. This requires some expense, of course, but we all need to learn to be as self-sufficient as we can in all aspects of our lives. Our vehicles have all been purchased used and our two work horses (tractor and Suburban) are more than 30 years old. But they're simple to work on and we can (most of the time) keep them going ourselves. <br /><br />We sure can't plan on social security or retirement funds or financial investments or any government assistance to always be there for us.<br /><br />It has been said that worrying is spending your time planning for something you don't want to happen. I'd rather plan on building a secure future for ourselves in any tangible way we can. Learning skills, growing our own food, having our own water and fuel supply, investing in secure structures for ourselves and whatever livestock we choose to keep.<br /><br />Keeping up with the Joneses? Not an attractive goal to my mind.<br /><br />Thank you for a really great post, Leigh.Mama Peahttps://www.blogger.com/profile/03649357184167949247noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-60997039753133812332018-05-02T09:11:47.732-04:002018-05-02T09:11:47.732-04:00I understand your reasons for not being able to in...I understand your reasons for not being able to invest. I was mainly commenting for those who may have some money tucked away in a savings account or in a tin can for their retirement to say that while the stock market isn't a certainty, if done right, it is still much better than the alternative. Along that line, I would add that one of the cardinal rules to investing is when you are getting close to retirement, one should be investing in bonds, not stocks. What money I had in bonds, really did well starting about 2008 when everything else was going to pot. Had your friends followed this cardinal rule, they would have been able to continue their lifestyle. But I understand those that don't because it is hard to settle for not much growth in a strong bullish market we had leading into 2008. <br /><br />To answer your question, will the stock market continue to grow forever? The answer is yes, unless the world comes apart at the seams. The stock market is a positive sum game. It increases as long as companies continue to be profitable as a whole. It is very easy to see that not all companies continue to grow their profits but that is the beauty of an index fund. The non-profitable companies eventually fail and are removed from the index while other companies continue to evolve to remain or become profitable. This is why I don't hold any single stock or even individual mutual funds. I essentially own a share of the entire world market. Another factor is population growth. It drives growth in the stock market and hasn't shown any signs of reversing. Even if it reverses, the stock market would continue to grow, albeit much slower, as it continues to increase the gross domestic product per capita, i.e. remain relevant in what they sell to the people. <br /><br />There may come a day when it no longer grows, but that would mean that businesses are all losing money, because people aren't buying anything, which means something huge has happened. As I said before, my money would then have the same purchasing power as the person who stuffed it in their mattress, i.e. none. That is the day preppers step up and rule the world. Edhttps://www.blogger.com/profile/13214319366049620074noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-82097474291330412882018-05-02T08:31:52.014-04:002018-05-02T08:31:52.014-04:00there still 7 years in my husband's retirement...there still 7 years in my husband's retirement and we have experienced ups and downs just like you sharend in your incredible post my friend!<br /><br />15 years back when my husband bought plot for building house separate from my in laws .it was quite tough decision because we knew that with limited monthly income it would be so hard to manage kids school ,various bills and daily purchases<br />after we moved to our new house it was difficult to arrange same lifestyle for the family specially kids they used to <br /><br />we suffered with shortage of money until house loan was finished <br />by the grace of God we are living happily now and bad time has passed ,what mattered all those years was our support and care for each other bailihttps://www.blogger.com/profile/06498012175058870980noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-21938590999686631452018-05-01T23:06:40.108-04:002018-05-01T23:06:40.108-04:00Good article. Life has become a little more diffi...Good article. Life has become a little more difficult to be frugal with having to eat gluten free. Nancy <br /> Cozy Thyme Cottagehttps://www.blogger.com/profile/03933769393226611441noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-35022135903135163542018-05-01T22:55:35.990-04:002018-05-01T22:55:35.990-04:00Insightful and thought-provoking post, Leigh. I...Insightful and thought-provoking post, Leigh. I've looked on SS and the 401K as funds that shouldn't be relied on for future needs; which is why staying out of debt is so important to me. tpalshttps://www.blogger.com/profile/05646231041413714929noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-17512955487894051292018-05-01T20:52:18.290-04:002018-05-01T20:52:18.290-04:00This is a great post and very timely for us as wel...This is a great post and very timely for us as well. We are starting to enter prime age for potential downsizing and I am more than well aware that whatever I find will most likely be much less than what I make now. I would rather plan for it now than be caught be surprise.Toirdhealbheach Beucailhttps://www.blogger.com/profile/14872794169534403463noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-554458534329091022018-05-01T19:43:11.643-04:002018-05-01T19:43:11.643-04:00Ed, I only wrote retirement investments off for us...Ed, I only wrote retirement investments off for us. When one can barely pay normal bills and living expenses, investments aren't a reality. If it comes between replacing outgrown, holey shoes for my kids or investing the money, I'd have to buy the shoes every time. As far as guarantees, I was thinking of folks we know who had large losses in 2008. Some had to postpone retirement for quite a few years and others already on retirement income were having to make unwanted lifestyle adjustments to make ends meet. No, they didn't lose everything, but neither did their investments meet their expectations. When one is 65 or 75, the idea of finally catching up in 10 years time isn't much of a comfort. I think averages make good selling points, but I don't think they make good reality checks. We all remember the kid in school who aced that math test so that our Bs and Cs turned into Cs and Ds. I think Dan and I have made the best decision for us - to invest in the tangible assets of land, tools, equipment, seeds and food producing trees, shrubs, and livestock. I'm curious though, corrections aside, do you think the stock market can continue to go up eternally? <br /><br />Michelle, well said! As to SS benefits, you are absolutely correct. I'm actually amazed that we're getting any! My daughter gets letters from the SSA telling her to make other plans for retirement because SS won't be there by the time she retires. We consider them a blessing for right now, but not a sure thing in the future. <br /><br />Rain, I've had no regrets about living this way and so agree with you about cherishing time with loved ones. <br /><br />Lady Locust, I'll have to do that. I know people often get rid of their old top loaders in favor of the new high speed models. Dan has done a super job of keeping it going this long. :)<br /><br />Ashley, I appreciate that! I think it's important to know that we have choices and that others are choosing to not swim with the crowd. <br /><br />Jaime, good to hear from you! It's interesting how much we assume we need until we no longer have it. It's a gift to learn how well we can thrive and be happy without so many things. And thanks for the book recommendation. It definitely sounds like something I'd like to read. <br /><br />Mrs Shoes, Corrie Tenboom! She's one of my heros. :)<br /><br />Chris, it's tough to figure out which choices are the best. I'm sure many of us second guess ourselves as well. Can't say I've perfected not worrying, but I have to say that I've worried less with Dan's injury and job situation, but had more peace. Looking back, I can see that worrying wouldn't have helped a thing. Leighhttps://www.blogger.com/profile/02435811789823712254noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-65404047968111605862018-05-01T17:48:37.777-04:002018-05-01T17:48:37.777-04:00Some interesting thoughts you've shared today....Some interesting thoughts you've shared today. but not just thoughts, it's reality too. I particularly enjoyed the last paragraph about worrying, and how no-one can predict the future anyway. This is something I've been contemplating recently too. Like which decisions to make, in order to prepare for the future? The future is uncertain though, so you can only do the best in your given situation. Thanks for sharing. :)Chris https://www.blogger.com/profile/13715819899708384147noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-70112609560656660862018-05-01T15:46:04.772-04:002018-05-01T15:46:04.772-04:00"Worry does not empty today of it's sorro..."Worry does not empty today of it's sorrows; it empties it of its' strength." Corrie TenboomMrs Shoeshttps://www.blogger.com/profile/02636736944375337989noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-18261455467269973222018-05-01T15:34:25.546-04:002018-05-01T15:34:25.546-04:00Thank you so much for the wisdom you so beautifull...Thank you so much for the wisdom you so beautifully shared in this post. I’m prone to worry and you’re exactly right - gratitude is the antidote! We went through a very difficult period financially, and learned to live with one car (almost no car, actually!) and I’ve found it works for our situation just fine. We’ve done a lot of what you have as well, including simplifying our diet/food habits quite a bit, and that’s something that not only reduces expenses, but I’ve found to be very empowering as well. <br /><br />Have you read the book “The Fourth Turning”? It speaks to that cyclic nature of human history and each generation needing to learn the same lessons over again. Oy.<br /><br />I hope Dan is continuing to heal well.<br /><br />-Jaime Ngo Family Farmhttps://www.blogger.com/profile/15484243776589015749noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-11040904897506994402018-05-01T15:27:02.080-04:002018-05-01T15:27:02.080-04:00You always make me think Leigh. You’ve really been...You always make me think Leigh. You’ve really been a big influence/inspiration for me these last many years. I truly appreciate it. <br /><br />Ashley in TexasAshley Ahttps://www.blogger.com/profile/09198207643938349974noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-28754738702061532242018-05-01T15:09:38.621-04:002018-05-01T15:09:38.621-04:00Another thought. In this day and age, Social Secur...Another thought. In this day and age, Social Security benefits aren't any more guaranteed than retirement investments. Politicians see the SS fund as a slush fund to balance the budget (something they just voted to do) rather than a retirement fund we pay into from our very first paycheck. I'm glad you and Dan have it to live on, but that may not be a reality in the future for others like us.Michellehttps://www.blogger.com/profile/01550786937196525098noreply@blogger.comtag:blogger.com,1999:blog-1694364001063554832.post-71086393830579993942018-05-01T14:08:31.320-04:002018-05-01T14:08:31.320-04:00Leigh, you are so wise. I was just going to offer ...Leigh, you are so wise. I was just going to offer - might start watching Craigslist for a washer. I see them (working and not working) in the free section every so often. You can also put a “wanted” post. You might be surprised and not have to pay for a new one 😊Lady Locusthttps://www.blogger.com/profile/12661298925602199106noreply@blogger.com