If you're new here, this blog will give you the tools to become financially independent in 5 years. Here's how I did it and here's a few dozen online journals from other people who are currently doing it. This is not some stupid get rich quick scheme. The method is robust and replicable (no need to win the lottery, sell your business, or win at real estate), but not easy; much in the same way that a diet results in weight loss but is hard to follow persistently unless you set your mind to it.
The key is to save 75%+ of your net income and invest it in income producing assets (bonds and dividend stocks). This is done by running your personal finances much like a business, thinking about assets and inventory and focusing on efficiency and value for money. See this post on how to enjoy a middle class lifestyle on $7,000/year (Please read it, especially the part about the lentils!). There is a "21 day" step-by-step plan for how to get beyond 75% in the left side bar. Also, check out my answers to Frequently Asked Questions which also covers common misconceptions regarding my personal budget, blog income, retirement, marriage, children, health care, etc. I also suggest reading About ERE in the top menu bar.
I have added a link to bicycletutor.com in the right sidebar under useful tools. What I like about this site are the video tutorials, which for me is the most effective way to link how to do anything manual—I can’t put the things together by reading about them.
In addition, the tutorials describe what tools are needed (very important to a tool challenged person like myself—when it comes to tools, I’m the equivalent of asking “how did you know where to find the “save button” in Word?”—AND they provide an easy way of acquiring them via amazon.
I used the instructions for cotterless crank removal and cone and cup bottom bracket overhauls to fix the bottom bracket on my folding bike. Hence, I was finally able to do something more complicated than fixing flats and cleaning my chain. As this was quite empowering, I plan to do all repairs and tune-ups myself in the future.
Originally posted 2009-06-23 13:21:47.
Permaculture articles!
