Mr. G wrote:
... living off the interest of savings? I've been researching homesteading on and off and haven't really confirmed whether it was truly viable or not.
What I did was quit my day job, sold the house, bought a cheap house trailer, and do ebay or other part-time type stuff for cash. Got rid of all the extras - TV, magazine subscriptions, expensive haircuts, eating out, etc. I grow as much food as I can, but can't have animals here. My needs are, fortunately, minimal, the largest expense being the car, which is necessary as this area is rural with little public transportation. 7K total is a bit less than what I've been using.
The interest from savings was pretty much sufficient until the last 2-3 years, and now it isn't enough, as income has dwindled and costs have increased. I have 3 years until Social Security, and finding a job other than McDeath within 40 miles is pretty slim, so for now I'm spending principal. It's not doable for much longer. Have been considering cheap land in WV, KY, or TN, using the last of the principal to outfit an off the grid cabin, but would need young guy muscle and skills to make it work. (Hold the smart remarks, please.) I've heated solely with wood, that works, and can put up food, but growing all
your own food is a huge endeavor, especially considering weather unpredictability. You pretty much have to buy staples, I think.
I still think a communal type setting is the way to go, that way each person doesn't have to pay for all the basics like tools, etc. Not so much one big house, though, more along the lines of a bunch of small cabins, so each person/couple can have some privacy and can practice.