Given the popularity of software development as a career, the rise of people working from home, the spread of high-speed Internet in remote areas, and the explosion of property prices in major cities, I'm dumbfounded as to why we aren't seeing more software developers and those able to WFH move to cheaper regions.
Currently, I live in a mid-price area. I am renting right now but all of my bills are included in my rent which is ~$250 a week. I will be working 50 hours a week for the next 5-10 years and will be able to save about $800 a week before tax as long as I am frugal and stick to the basics. That's about $40,000 a year or about $30,000 a year after tax.
Every week, I will have about 118 hours of each day to myself. If you take away 8 x 7 = 56 hours of sleep, that gives me about 57 hours per week to improve myself (of course, there are also things like eating and showering so the actual figure will probably be closer to 50 hours).
My plan is to use these non-working, non-sleeping hours to become a self-taught software developer using free online resources such as edX, Coursera, Udacity, Udemy, MIT OpenCourseWare, Khan Academy, etc.
By the end of 5 years, I will have saved $150,000 in cash and should be able to start looking for a house to buy without the need for a mortgage. By the end of 10 years, I will have saved $300,000 in cash and should definitely be able to buy a house without a mortgage. By then, I should also have a resume featuring a portfolio of projects that will allow me to work remotely whether it be through freelancing, a traditional job with an employer, or my own startup(s) (or a combination of the three).
Once I am confident in my abilities as an experienced web/software developer and am able to make enough money through software development to support myself, I will take my savings and move to a place in New Zealand where houses can be bought for very cheap (e.g. Gore, Greymouth, Taumaranui, Dannevirke, Wanganui, etc.). I will purchase a small 1 or 2 bedroom house between $150,000 to $300,000 with my savings. The only requirement is that the town should have broadband Internet.
For example, something like this would be perfect.
By the end of the 5 (hopefully) or 10 (more realistically) years, I should have my own house that's fully paid, a valuable skill set, and an income stream that supports me whilst allowing me to work from home. I will grow my own fruits and vegetables, place solar panels on my roof, put any extra income I make towards cashflow-generating assets, and generally lead a happy, peaceful, and carefree life away from the hustle and bustle and rat race of 9-to-5 jobs, bosses, corporate meetings,401ks KiwiSaver, and 30-year mortgages.
Do you think this dream is attainable r/PersonalFinanceNZ/? Is there anyone here following a similar path or who have done so and wouldn't mind sharing their experience?
Currently, I live in a mid-price area. I am renting right now but all of my bills are included in my rent which is ~$250 a week. I will be working 50 hours a week for the next 5-10 years and will be able to save about $800 a week before tax as long as I am frugal and stick to the basics. That's about $40,000 a year or about $30,000 a year after tax.
Every week, I will have about 118 hours of each day to myself. If you take away 8 x 7 = 56 hours of sleep, that gives me about 57 hours per week to improve myself (of course, there are also things like eating and showering so the actual figure will probably be closer to 50 hours).
My plan is to use these non-working, non-sleeping hours to become a self-taught software developer using free online resources such as edX, Coursera, Udacity, Udemy, MIT OpenCourseWare, Khan Academy, etc.
By the end of 5 years, I will have saved $150,000 in cash and should be able to start looking for a house to buy without the need for a mortgage. By the end of 10 years, I will have saved $300,000 in cash and should definitely be able to buy a house without a mortgage. By then, I should also have a resume featuring a portfolio of projects that will allow me to work remotely whether it be through freelancing, a traditional job with an employer, or my own startup(s) (or a combination of the three).
Once I am confident in my abilities as an experienced web/software developer and am able to make enough money through software development to support myself, I will take my savings and move to a place in New Zealand where houses can be bought for very cheap (e.g. Gore, Greymouth, Taumaranui, Dannevirke, Wanganui, etc.). I will purchase a small 1 or 2 bedroom house between $150,000 to $300,000 with my savings. The only requirement is that the town should have broadband Internet.
For example, something like this would be perfect.
By the end of the 5 (hopefully) or 10 (more realistically) years, I should have my own house that's fully paid, a valuable skill set, and an income stream that supports me whilst allowing me to work from home. I will grow my own fruits and vegetables, place solar panels on my roof, put any extra income I make towards cashflow-generating assets, and generally lead a happy, peaceful, and carefree life away from the hustle and bustle and rat race of 9-to-5 jobs, bosses, corporate meetings,
Do you think this dream is attainable r/PersonalFinanceNZ/? Is there anyone here following a similar path or who have done so and wouldn't mind sharing their experience?