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Old 04-27-2009 | 07:15 AM
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SkyHigh
Self Employed.
 
Joined: May 2005
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From: Corporate Pilot
Default Financial Independence

My favorite book in college was Henry David Thoreau's "Walden". I especially liked his thoughts about living financially independent. Another good book is "Five Acres and Independence" Much of my focus since then has been on how to recreate a modern "cabin in the woods" like Thoreau did.

Though today we can't just squat on a vacant piece of land and live on soy beans we can recreate a similar situation even in the city. In my case I decided that rental housing would be my garden and a four plex would be my cabin. Instead of buying a starter house I bought a four plex instead. I lived in one of the units and rented all the rest. The proceeds paid me a small sum and I got to live in my unit for free.

As a pilot it is often difficult to accumulate the assets required for such an endeavor due to the nature of the job. The constant travel, moving and low wages make it difficult to get the financial momentum needed. In fact it seems that the profession leads to employment dependency more than most, though financial independence is still attainable. However, it takes a lot of sacrifices up front and a different mindset.

My advise is to start by reading Henry David Thoreau's "Walden, or my life in the woods".

Skyhigh
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