Several people are now considering leaving their tedious 9-5 jobs to get away from the city noise and soul-sucking city life and moving to much calming and quitter localities. These places often act as a stressbuster to these people.
However, in doing so, one is faced with a harsh reality of life – it is difficult to keep up with one’s income as one moves farther and farther away from the city. Some may counter that this would happen along with the expenses shooting down, which might make me it manageable. However, this might not always be true. If you set up a venture of your own, or experience medical bills or any other emergency creeping up, or have certain financial dependents relying on you, you might fall short of funds.
However, with proper financial planning and management, you can make your dreams turn into reality by settling in a quitter and calm place. With waiting further ado, let’s understand how we can achieve this lifestyle.
- Setting up an alternate source of income
It goes without saying that you must have enough funds to afford to live the luxuries of your regular paying 9-5 job. For this you need an alternate source of income. One way of doing this is by setting investments in a way that it fetches you regular income at regular intervals. One such investment option that offers this facility is mutual fund investments. Mutual funds can offer regular income to investors which can be used to supplement your income. In worst case scenarios, returns from your mutual fund investments will ensure that you are not left high and dry and have some financial cushion to fall back upon. - Lifestyle switch
Moving to a quieter and calmer place is more than just a landscape change. One must be prepared to learn to live life in a different way. This would require certain shifts – physically, mentally, and emotionally. You may also need to cut down on your expenses to ensure that you do not fall short of funds. You may begin by switching to a sustainable lifestyle. - Mint on your hobby or talent
If are unsure about how you would replace your steady income, you can substitute it with something that you are passionate about or talented in. This will have two-fold benefits – it will help you to nurture your talents and also provide you with a source of income that others find value in. This talent can range from teaching yoga, dance, singing, gardening, etc. Just find your niche and monetise from it.
If you have made up your mind to leave the city life behind and get on a new venture of settling in a quieter place, take a year or two to settle certain aspects. Be mentally and emotionally prepared for these changes and the lifestyle adjustments you would need to make to sustain a life in the mountains or something. Happy investing!
