Despite being disabled, never having an earned income of over $50k a year, and having worked only half my life, I'm doin' OK... Got 3 houses, 6 motorcycles, winter in Florida and summer in the rural Midwest. So thought I'd pass on my tips for surviving and thriving through poverty, and open the floor to your suggestions. Here's a few of my life hacks for starters:
1. Buy what's outa style when no one else is buying- My first house was over a hundred years old and in the 'hood when I inherited it, I ignored my families advice, fixed it up, and lived there rent and mortgage free for 14 years. The house in Florida was another inheritance from mom, bought out my brothers shares for $10k when the market bottomed. The country house is an earth sheltered home bought for $40k when the market bottomed in 2010, costs peanuts to heat with a pellet/corn stove and never needs air conditioning.
2. Keep stuff forever- Got a 2013 Golf Sportwagen TDI parked in front of the Florida home, but for the last few weeks I've been riding the '84 BMW "airhead" I bought new, 110k miles and still pullin' itself and a sidecar in style. Ride the 5 year old folding bike to stay in shape too.
3. Spend your money on stuff that lasts instead of stuff that's gone in a few hours- My first 2 VW diesels literally paid for the 4th. For the price of an expensive motel you can buy a sleeping bag, next night's savings will pay for the tent and mattress. Gas gets guzzled in a few hours and miles, I paid extra for longevity and economy on my cars and bikes... But decades later they're still keeping me mobile and saving more gas $$$.
4. Don't be afraid to work nights and weekends, and put your overtime pay into IRAs and 401Ks. Sell when the stock market is up, buy when it's down, and buy stocks of companies whose products you'd buy or recommend. Get a self directed account at a low cost broker like Folio or Schwab and don't waste your money being a day trader.
Any more good life hacks? What's yours?