If you're new here, this blog will give you the tools to become financially independent in 5 years on a median salary. The wiki page gives a good summary of the principles of the strategy. The key to success is to run your personal finances much like a business, thinking about assets and inventory and focusing on efficiency and value for money. Not just any business but a business that's flexible, agile, and adaptable. Conversely most consumers run their personal finances like an inflexible money-losing anti-business always in danger of losing their jobs.
Here's almost a thousand online journals from people, who are following the ERE strategy tailored to their particular situation (age, children, location, education, goals, ...). Increasing their savings from the usual 5-15% of their income to tens of thousands of dollars each year or typically 40-80% of their income, many accumulate six-figure net-worths within a few years. Since everybody's situation is different (age, education, location, children, goals, ...) I suggest only spending a brief moment on this blog, which can be thought of as my personal journal, before looking for the crowd's wisdom for your particular situation in the forum journals.

In reality, what happens happens. However, once an observer or an agent is introduced, the agent will try to model, mold, or change reality. Any modeling or molding of reality has known-knowns, known-unknows, unknown-knowns, and unknown-unknowns (Read more here). Known-knowns follow from certitude. Unknown-knowns follow from incompetence. Risk deals with uncertainty in the form of known-unknowns, which are usually handled statistically, and unknown-unknowns or so-called black swans. With that in mind, I proudly present The Cavalcade of Risk #49.

GENERAL

INVESTING

FINANCE (BEAR STEARNS)

INSURANCE

STARTUPS