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 how I how I enjoy a middle class lifestyle while only spending $7,000/year.
More importantly, here's more than a hundred online journals from other people, who are following the same strategy tailored to their particular situation (age, children, location, education, goals, ...). They have increased 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.
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 on losing their jobs to the next wave of downsizing.
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 delving into the forum journals and looking for the crowd's wisdom for your particular situation.
Fun fact: According to alexa.com, which is a widely used site for tracking web usage, earlyretirementextreme.com has more web traffic than the peacecorps.gov, speaker.gov (Nancy Pelosi’s website), recovery.gov (website tracking where the stimulus money gets spent), supremecourt.gov, …
You can compare earlyretirementextreme.com’s number (~69000) to a long list of other government sites.
If you want to compare them to another pf blogger instead of this blog, you can find their alexa ranking on wisebread’s list.
My operation costs abut $100 a year in hosting fees. I am one person and the occasional guest poster. I think it is safe to assume that any of the above organizations employ substantially more people and spend substantially more money as well.
While the only function of my “operation” is having a web presence, it is nevertheless interesting, that more people will be reading this post because it is posted here than if it was posted on any of the sites above.
On the other hand, more people probably listen to Lady Gaga than the President, so …
Originally posted 2010-05-11 18:54:11.
