I am an ex-convict looking to restart my life and reintegrate into society. I am on a life rebuilding mission and want to save as much as I can without having to pay rent. I dreamt about the van life while in prison but do not know where to start. I am studying to become a professional day trader to make this new independent life possible and have a few savings. I am also on a personal journey to become a first time author documenting my life experiences as a legacy to my family.
I have children and will have to stay connected to them in the city but I am weighing up the prospect of buying and living in a van rather than wasting my hard earned savings renting while I get my life on track.
I don’t know the first thing about the van life and it feels like jumping into the unknown. I want to do as much research and advice possible before starting this journey.
I would really enjoy hearing from veterans and other newbies of whether this life for me is possible?
Honestly, I would suggest a cheap bachelor pad or living with roommates, if saving money is your primary concern. Living in a van is already a misunderstood thing that makes many people uncomfortable, and I’d say that is exacerbated by the fact you’re an ex-con. Especially since there are legal grey areas like what you list as a home address when you live in a van.
I’d also highly recommend a different career than day trader. It’s barely a step up from gambling for a living. It can be done, but the majority of people who try fail at it and are the ones paying the wages of the successful few. I would try and stick with something consistent and reliable. It might not pay off as much in the end, but you really don’t want to end up worse off in 5 years than you are now. High risk, high reward, but too many people gloss over the first half of the statement.
Of course, I’m just some guy on the internet that doesn’t know your situation, so feel free to ignore some/all of what I say. It’s just an opinion. Best of luck to you.
Thanks for tip. I spoke to my friend in car industry and he recommended waiting for international travel to open up before investing in van life because the buying market is way overpriced. I am already have great success investing in crypto with a good network of investors and mentors. I am currently studying a university level day trading course so definitely no casino cowboy gambling. I am already trading successfully with demo accounts and not going to risk real money until I have the professional skills to trade confidently and constantly for profits. I am aware of everything you said but know I have the personality and mindset to succeed where majority fail.
No problem with address. My parole is suspended and I can travel wherever I like except overseas. I am use to to travelling challenges and did enough rough surfing trips to remote places in Indo to worry about obstacles travelling in van in first world country.
But everything you said is good advice and has merit. much appreciated.
Greetings & Welcome!
I’m not sure vandwelling is saving anybody any money. You just trading rent for other expenses. For many, buying an RV and renting a spot in an RV park is cheaper than an apartment rental.
I work full time & save my money by not spending it on things I don’t need. I could do the same in a house or apartment in any low cost of living area, and probably cheaper, but I enjoy traveling.
Income is one of the biggest problems many people face. Things change, and rarely for the better, but certain things seem to remain stable regardless. Among them are homeowner services. People everywhere always need something. Car repair is another one.
Having a diverse portfolio of ways to make money is the best road to success. I like to tell people that a reliable income should come first, and everything else later as money allows.
Examples: I have a friend who makes ~$50k/year delivering pizza between his wages & tips. He lives cheaply, and banks most of it. He plans to have enough to retire on before his 40th birthday.
A different friend started a house cleaning service while in high school. During her very first summer, she had more customers than she could handle herself, so she started hiring her friends & classmates. Within a year she was making more money than both of her parents combined. She quit working, and hired someone else to run the business, and has had a very healthy income all of her life. Anybody could do something similar, with pratically no startup costs.
Another friend did something very similar with lawn care, snow removal, pressure washing, gutter cleaning, and outside window washing to make it a year round business. He too retired very early with an income for life.
I’m still working, online, for myself, but I have now built a string of hands off money making websites that are making enough money that I could retire any time I choose. They’re selling advertising, something that nearly every business needs, and is willing to pay for.
Opportunities are everywhere, more now than ever before in history, we just need to re-educate ourselves to take advantage of them. They don’t teach this stuff in school, but the internet is a wealth of information.
Cheers!