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.
Welcome to Lazy Man and Money readers,
Lazy Man and Money was the first personal finance blog I found and started reading and which inspired me to start this blog. In case you haven’t heard I have a slightly unorthodox take on personal finance: very high savings rates, little use of retirement accounts and index funds, a DIY attitude, and car-free living. This allowed me to leave my full time job after a handful of years and “pursue other interests” as they say. You can find more on my philosophy here and if you want to step up your own retirement plans, you can read my makeover series, which is summarized here. In particular, read the post on finding a place to live and the post about going car-free. I think those are the key determinants to retiring early.
Regular readers might have surmised that I have a guest post over at Lazy Man and Money today. Go check it out.
Permaculture articles!
