tl;dr I want to become a mountain man at 24 with ~$70k to my name. How do I make my money last and keep the tax man away?
When I was 19 (4 years ago), I brilliantly spent ~$8,000 of my money on land in Colorado, and don't live there. Vacant land. In the middle of no where. There's road surrounding it, not more than a mile around. Less than a dozen houses in about 5 sq miles around it. Nothing but trees and dirt. Property tax is worked out, and pretty negligible.
Since then I frequently travel to it. Bout 10 hour drive, camp and smoke weed, fish, etc, then head back for work on Monday. I've thought a lot about moving there, but never seriously because obviously it'll cost hundreds of thousands of dollars to build a fully furnished, nice home.
I've been talking to this company in my area that builds 'tiny houses', and gave me an estimate to build my own. Under $10,000 and for something that I would consider reasonable. Put it on a trailer, bring it to my land, and boom done. I can move and live there and quit my job.
*So spiele aside, let's get into numbers and specifics so you can help with my actual problems. In the 3 years of owning the land, I've paid less than $2,000 in taxes on the land. Since I graduated high-school I've done nothing but work. I've got roughly $70k in my savings (still live at home... live very cheap). I own a car, and less than a dozen items worth more than $1,000. And the land. That's everything.
Realistically, if I paid for a tiny house, I'd probably spend ~$15k total furnishing it and transporting it. Then after quitting my job, I'd have somewhere around $50k to live my life. I love gardening, hunting, and can eat mostly 'free' stuff. Electricity, gas, water, etc is established in the area already and won't cost too much to use.
Last questions, how would taxes change after moving states, and not having any income? And I feel like may sound crazy but I love the lifestyle and would do this if possible.
Submitted April 01, 2017 at 07:56AM by 3ads4 http://ift.tt/2omzwgL
