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.
Jacob’s posts on how frugal living and only buying what one really needs allows one to save up to three quarters of one’s income to reach financial independence and early retirement seem to be irresponsible and unsafe according to our collective mind. We would like to stress the importance of a shopping and working as the only way to live a good life, and that retirement should only be pursued by consumers with at least one or two million in their retirement accounts. We would like to distance ourselves from the kind of misleading, inspirational, step-by-step, can-do rants that are posted on unprofessional anti-consumer blogs like early retirement extreme. We are gravely concerned about how our world would look if more consumers chose not to work more than a couple of hours a day and abandoned their credit cards, careers, big houses, and big cars.
Sincerely ha ha ha,
The Establishment
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Permaculture articles!
