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.
Andrew Lahde, the manager of a small hedge fund, who returned 800%+ by betting against the subprime mess, decided to end operations at the peak. He left this goodbye letter. While I do not agree on the tone of the letter, I think 90% of his points are valid and that they need to be raised. Also, not only do they need to be raised, but something needs to be done.
I am currently working on some aspects of this (yes, on top of everything else) which explains why posting will remain sporadic for a while. Sporadic means that I will write a post whenever inspiration strikes me.
Meanwhile if you have any questions, send them to myfirstname @ earlyretirementextreme.com (or leave a comment below). I’m generally reluctant to give advice since everybody’ situation is different, but I almost always have an opinion on everything
