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.
If you enjoy the blog, also consider the book which is much better organized and more complete. You can read the first chapter for free, listen to the preamble, or see the reviews (1,2,3,4,5,6,7,8,9, A,B,C,D,E,F,G,H,I,J,K,L,M,N,O,P,Q,R,S,T,U,V,W,Z). Subscribe to the blog via email or RSS. Get updates on the facebook page, join the forums, and look for tactics on the ERE wiki. Here's a list of all the ERE blog posts.
With increasing costs of living in the United States, many [Americans] are looking to retiring abroad. I have lived in 3 countries and based on my experience of setting up base in a new country, the most important things are: First, learn the language fluently, second, respect the local culture (especially if you don’t understand it), and third, adopt some of the local culture to avoid feeling left out.
Very likely, anyone interested will already have adopted some of the culture already. After all, this should be the main reason for living somewhere in my opinion. Respect should be taken for granted, but for anyone with tendencies to inconsiderate/oblivious behavior(*), pay extra attention abroad. The language is crucial! Even though most of the world speaks English, you will never make the same connections to the locals as you would in their native language. in particular, some jokes can’t be translated!
(*) If you don’t know if that pertains to you, it probably does 😉
Well, that’s my two cents. Here is a nice thread discussion offshore retirement in greater detail than I can.
Originally posted 2009-11-11 10:29:19.
