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.
The primary purpose of blog reading should be to gain understanding. Reading without increasing understanding is essentially a waste of time. If you find yourself readily agreeing with the author, chances are that you are merely reading along to have the author stroking your ego or feeling less alone. If you find yourself readily understanding what the author is saying, he either writes very well, but chances are that you have already achieved this particular level of understanding and that by further reading you are merely collecting information without increasing your understanding. Only when a blog continuously causes you to stop and think and revise your thinking will this blog increase your understanding.
Those are the only blogs worth reading(*). Unsubscribe from the rest.
(*) If you find yourself laughing out loud, you are being entertained; I suppose that is alright too.

Originally posted 2009-08-12 00:21:25.