# Use savings for my BOL



## Dirk (Mar 4, 2015)

Currently I am spending a big part of my savings for my BOL. Even if trouble isn't coming, it is a nice place to stay. Further, we later plan to sell our normal house and move to this place. So the question is, is it a good idea to spend a big part of my savings on a BOL?


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## darsk20 (Jun 1, 2015)

Interested to hear responses to this.


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## Prepadoodle (May 28, 2013)

How can you go wrong?

If you plan to live there full time and be more self sufficient, it sounds like a great idea to me. You would be better off if something happens, and better off if nothing happens.

I would love to hear more about your plans.


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## A Watchman (Sep 14, 2015)

Why not invest some of your savings in your planned lifestyle/location change? You have to live somewhere, might as well be your BOL.


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## MaterielGeneral (Jan 27, 2015)

What about your employment. If you move to the BOL how will you work?


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## Prepared One (Nov 5, 2014)

I like the idea of investing in your BOL. That is my plan currently. To buy a place far removed from the cities and then move there. I am currently looking at properties that suite the wife an I. We have a large house now that is way to big for us and we both want out of this damn city so that is our end game. I have logistics to work out of course. As long as you have some reserve money set back I like your idea.


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## Smitty901 (Nov 16, 2012)

Your preps should have a dual pay off any time you can make it happen. That is smart prepping. 38 years ago when I purchased this farm they said I was nuts. I wanted it to stay in the family and paid a bit extra so no one could say I got deal. Well those same people now call me a lucky SOB. Confusing how I could be both. 
Every change to this property even building the new house was weight against preparing and living out our lives here.
Wife's flower and sun room becomes a place to start garden plants early, even grow indoors if needed.
Bike room becomes an armory . Basement becomes living area to conserve heat ect, for now it serves many uses and the reinforce safe room is always a good idea for storms of any kind.. Until SHTF just changes to enjoy.


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## Slippy (Nov 14, 2013)

I know a cool dude who saved for years then stopped investing in his retirement and directed that money toward a piece of land in the country. That cool (and handsome guy) then sold his big ass house in the suburbs with the big ass mortgage and built a small efficient home on his paid for land in the country with no mortage.

He is one Happy Happy Happy cool handsome and smart guy who now has more money to invest and save if he chooses and is not a slave to the man. (Plus cool handsome smart guy really started to hate the neighbors and the dipwads on the HOA and cool handsome smart guy's wife thought he was going to kill them all)


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## whoppo (Nov 9, 2012)

We recently liquidated stocks towards the cash purchase of what will be our primary retreat in the mountains. 
For now it's a great place to park the motorhome. In the 10 years left before retirement we will build the off-grid infrastructure and the buildings using budgeted funds... no loans/mortgages.
On retirement day, our new home will be complete and all ours. We'll sell the property we're in now and put a few hundred thousand bucks into the single malt scotch and cigar funds... good to go.

If the world collapses in the meantime, we've still got a great place to park the motorhome.


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## RNprepper (Apr 5, 2014)

You have determine where you want your investment - in the bank or in hard real estate. Where is your money more safe? How quickly do you want to pay off the new property? Where is the greatest financial risk - having your money in the bank or in a mortgage that is not paid off yet? Do you intend to sell the current residence and if so, how much will that help with paying off the BOL? You are moving your money from one investment to another. Risk, growth potential, and you own comfort level need to be considered. Only you can answer those questions.


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## Ripon (Dec 22, 2012)

I don't think it's wrong so long as it doesn't impact your living expenses and cause credit card or other debts.


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## Camel923 (Aug 13, 2014)

Old Greek saying, moderation in all things. Investing in you BOL especially if your going to live there can be a great stratagy. I would also hedge my bets for retirement .


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## Dirk (Mar 4, 2015)

Prepadoodle said:


> How can you go wrong?
> 
> If you plan to live there full time and be more self sufficient, it sounds like a great idea to me. You would be better off if something happens, and better off if nothing happens.
> 
> I would love to hear more about your plans.


Thanks Prepadoodle,

The plan is that by the end of the year or the beginning of next year the place is finished. The place will be about 800 square feet. If it is only for my wife and me, then we will use the extra space for farming equipment. If trouble starts, I expect we will get some family as well. So it will be crowded. We already found out that during the current season (rainy season) there is some powercuts (the construction guys cannot use their tools). But as we already planned for a small solar solution that will all be fine. the solar will be just enough to run a fridge and some other things on. 
The land is about 1 hectare. We plan to have most of it with crops. It should be a mixture of crops as it mainly will be for own consumption. Actually, we already have all kind of things growing on it without taking care of it. things like bananas, papaya, rice, pumpkin, mulberry, coffee, bamboo.
Once we live there we want to have a few animals as well. Chickens, fish in the pond and goats.

Further, the place is next to a farmers village. Farming is here still very small scale. So no big machinery. The village itself has no airco shops and no ATM. So really simple. Also it is an hour drive from the nearest larger city.

Still working on the water. First of all we hope to catch as much rain during the rainy season. Calculated based on the size of the roof we could maximum catch about 4000 gallons of rain. So part of this we will try to store in tanks. The other part will flow probably in the pond.


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## Dirk (Mar 4, 2015)

All thanks for the supporting ideas to go on with our BOL


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## Dirk (Mar 4, 2015)

MaterielGeneral said:


> What about your employment. If you move to the BOL how will you work?


If we can, we will just live there and stop working. We have enjoying the land so far very much. It is a little too much to combine it with regular work as we take the first flight from our current place there on Saturday morning. Then rent a car to to the land and fly back on sunday evening. But being on the land and working on it is a joy. Besides, we have build up some pension and some savings. Also healthcare is covered as long as the current system is not breaking down. Finally, the cost of living here is extremely low. A good meal cost as little as less than a dollar.


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## Dirk (Mar 4, 2015)

Prepared One said:


> I like the idea of investing in your BOL. That is my plan currently. To buy a place far removed from the cities and then move there. I am currently looking at properties that suite the wife an I. We have a large house now that is way to big for us and we both want out of this damn city so that is our end game. I have logistics to work out of course. As long as you have some reserve money set back I like your idea.


Sounds familiar. Our house is also too big. So hopefully we can sell it for a good price. finding a good place isn't that easy. We have looked around for a few years. Somehow the place we finally bought we are very happy with.


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## Dirk (Mar 4, 2015)

RNprepper said:


> You have determine where you want your investment - in the bank or in hard real estate. Where is your money more safe? How quickly do you want to pay off the new property? Where is the greatest financial risk - having your money in the bank or in a mortgage that is not paid off yet? Do you intend to sell the current residence and if so, how much will that help with paying off the BOL? You are moving your money from one investment to another. Risk, growth potential, and you own comfort level need to be considered. Only you can answer those questions.


Actually, the current house is about paid for. The Bol will be fully paid for as well. But eventually we want to sell the current house as it would bring in a nice amount. Besides, if we would still own it we would have to maintain it as well.


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## paraquack (Mar 1, 2013)

Considering the fact that investments don't bring in very much and savings accounts are 0.3% at best, you're not going to be loosing much. If the banking industry goes under, you're ahead of the game.


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## Medic33 (Mar 29, 2015)

how do you feel about it?
are you comfortable with spending your savings on something you want?


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## Dirk (Mar 4, 2015)

Good points as well. In a way I feel good as I believe it is the right thing to do. Difficult sometimes not to give way to sheeple thinking.


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## alterego (Jan 27, 2013)

If you are paying for a piece of land you can arguably say that you are investing in land. Not spending. Unless you are buying a hamok then you are spending.


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## Medic33 (Mar 29, 2015)

the sheeple are not you -so what you do to make you happy is your own business.


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