MicrostockGroup

If you're planning on doing stock I would suggest a large supply of your favorite lubricant. 

The only thing on that list that I would have a hard time doing without is Lightroom.

The rest of it depends on what you're shooting. I would wait until you determine there's a need and then buy stuff.

I use 1 camera, 2 continious lights, 1 tripod, white background paper and photoshop. I only shoot objects, one photoshoot cost me around 12$ which I can normally get between 90$ to 500$ at the end of the year.

I must worked around 3 to 5 hours for that photoshoot.

Is any gear really "essential"? I mean, for stock there are some minimum technical requirements that have to be met, and only some cameras have the capability to meet those requirements. But beyond that, I can't imagine there is anything you absolutely need to have.

1) DSLR, two minimum

2) The best lenses on the market, not cheap knock off lenses or kit lenses.

3) Camera mounted flash ETTL - with diffuser

4) Monopod

5) Spare camera batteries, flash batteries, second charger 12V and extra memory cards

6) Camera bag(s), lens protectors, rain gear, comfy shoes, wide brimmed floppy hat to keep the Sun off your head and viewfinder

7) Editing software - Elements is actually just fine for photo work, but if you are spending, Lightroom.

Fast computer with loads of memory and a high quality color balanced monitor. It makes no sense to shoot pictures and try to edit them on something that doesn't show what you really have.

9) Good solid tripod and remote shutter release

10) Retirement pension that pays all living wages so you don't need the pro-photo income, or optionally independently wealthy.


Things you won't need: (to start with)

Big Ass color photo printer (or any printer!)
fancy "studio"
Photoshop
Ball head for the monopod, or some carbon fiber device. A stick with threads on the top will work!
reflectors,
soft boxes,
umbrellas,
Lighting systems,
wireless remote strobes
white balance cards
all kinds of other devices and toys that are not essential to taking good photos,
most of the filters (except carry a CPL just in case you need one!) and I use UV to protect my lenses but that's a whole debate in itself

Details depend on what you are shooting and what direction you want to go.

Start with the essentials and fill in the rest as your path defines itself.

Here is a short list of items that most of the serious hobby photographers doesn't have (even if they boast with their cameras, lenses and studio flashes):

Big and heavy light stands (used where lighweight stands just aren't enough)
C-Stands or other leveling leg stands
Long and sturdy boom arms
Big Scrims, silks
Light gels (extensive collection of colors and sizes for both color correction and effects)
Aluminum step ladder
Clamps, super clamps, magic arms, goosenecks, adapters etc.
Duct tape, fishing line, steel wire, blu tack, styrofoam etc.

Things I need to shop someday: (this is the real pro stuff )
Portable power generator (you know the kind that works with gas, for lights and stuff)
Portable flash systems (Elinchrom Quadra or such)
Haze machine
Wind machine
Megaphone
Walkie talkies

These are better rented when needed:
Small skylift
Scaffolds


Oh, one more thing about street cred. It isn't the new and shiny stuff that makes you a credible pro, it's the old, worn and beaten stuff that gives you street cred

Creativity.