Living without working: what are the solutions?
Living without working, everyone has surely already thought about this possibility on Monday morning at work. It is the dream of each of us not to have to work anymore and to continue to provide for our needs anyway. Living without working really means being able to continue paying bills, paying for purchases, or paying off debts. All this while eliminating the constraining profit-generating aspect called work. From this point of view, it seems perfectly impossible and yet it is doable. Indeed, it is quite possible to live without working and at the same time cover your needs.Moreover, there are several simple, but effective solutions that allow you to live without having to work. Discover through this article how to succeed in living your life by stopping working daily. If you also want to make some pocket money on the internet, also think about profitable sites like Moolineo , loonea or Swagbucks.
Living without working: is it possible?
According to statistics, around 50% of French people suffer from fatigue and stress at their workplace , 26% die of boredom and 44% have no interest in their tasks. It is therefore not surprising that 24% of employees have to deal with burnout. Suddenly, many are asking the question: is it possible to live without being forced to work day after day? The answer is yes. With these numbers, it is normal to understand why so many people seek to be able to live without working.
Steps to successfully live without working
It doesn’t seem serious, but even today the biggest magazine like Le Revenu is talking about it. For some people, living without working is mainly a question of adaptation. As such, the material aspects must be put into perspective and rethink. To be successful in achieving this goal, you must ask yourself the key question “How much do you need to live?” And to prepare for it, you will need to act in five essential steps:
- Know your goals,
- Anticipate the consequences,
- Carry out a prospective financial study,
- Analyze the feasibility of your project (s),
- Take the time for your preparation.
The first step is a key phase when it comes to building a new life project. For good reason, you must establish very clearly what you want to put in place and why you aspire to it. Is the fact of wanting to stop working due to your current professional situation? What are you looking to achieve with the new life you envision? Is it a question of organization or of a new living environment? All of these questions are important before making the decision.
How to live without working?
Living without working is not a decision to be taken lightly, you need instructions for use. To prepare for it:
- Do your calculations,
- Assess your needs,
- Balance risky and secure investments in your wealth.
Start by asking yourself if you plan to dip into your capital, keep it by using its fruits or choose a middle way. The choice varies depending on your transmission desires. If you are ready to use part of your capital, the difficulty will be to measure your punctures so as not to exhaust your funds before the time. Conversely, if you want to keep your assets for the benefit of your successors, you will need a large estate.
Next, consider making a provisional budget including retirement. When evaluating your cash flow, don’t forget your future retirement. If you are missing contribution quarters, its amount will be reduced. If so, plan a strategy that will allow you to limit breakage. Also, it is possible for you to continue to accumulate quarters while preserving an episodic activity.
Next, assess your expenses. To do this, the statistics of the INSEE can help you by going around the posts. It is advisable to start from a blank sheet, because no longer working may upset the structure of your budget.
The different solutions for living without working
The first thing to think about is how you are going to realize a sufficient annuity to stop working. Likewise, the best way to live without working is to live without money. Have enough money at least to cover your expenses, that is to say to be annuitant. And many other solutions exist to be able to live without killing oneself at the task in the office every day.
Become an annuitant
Who wouldn’t want to earn money without having to work? This is the very principle of the word annuitant. In other words, earning enough money at the end of the month to support yourself, without having to get up early every morning to go to work. The best way to live without working is to limit your needs and expenses as much as possible. Indeed, there are very simple and effective ways to reduce a lot of expenses within a home, namely:
- Reduce your energy bill by insulating your house, changing energy supplier or installing self-consumption
- photovoltaic panels;
- Renegotiate its loans or insurance;
- Manage your budget correctly;
- Consolidate your credits with a serious broker.
The idea here is to show you that you can become an annuitant faster by spending less.
Invest your savings’
Nothing could be easier than to build up a small savings quickly and then invest it. However, it is crucial to think long term by making small sacrifices today and enjoying them tomorrow. In order to be absolutely sure that you are saving a certain amount every month, you can just schedule a direct deposit. This consists of allocating a portion of your income each month to your savings account. Once your savings have been built up, real estate remains an excellent investment and even represents an interesting source with high profitability.
In addition, you can also build a home and then sell it at a capital gain. You can also buy an apartment and then rent it out. In this case, the goal is obviously for the rent money to reimburse the amount you have invested.
Whatever the goal or the type of investment, saving money can be of great benefit to you in financially complicated situations.