07-21-2008, 04:42 AM
One of the major business oriented keys towards successful "self-reliant" living is to move towards assets that generate "implied" income", rather than "earned income," which is always taxable where the former is not. The classic example is "owning" a residence vs. mortgage or renting, because in a very real sense owning the most modest shack in Hawaii outright generates a very real income of about 1000 bucks a month, as it would be very difficult to rent or finance the same for less--money that would have to be earned and in my case taxed at a near 33 percent rate. So looking from that perspective, it's pretty easy to figure what things are worth.
Many people are drawn to a "self-sufficent" lifestyle because they have no business sense. The fact is, you've got to have a very very refined business sense to make it work.
Many people are drawn to a "self-sufficent" lifestyle because they have no business sense. The fact is, you've got to have a very very refined business sense to make it work.