If you're new here, this blog will give you the tools to become financially independent in 5 years on a median salary. 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 of losing their jobs.
Here's almost a thousand online journals from people, who are following the ERE strategy tailored to their particular situation (age, children, location, education, goals, ...). Increasing 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.
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 looking for the crowd's wisdom for your particular situation in the forum journals.
If you enjoy the blog, also consider the book which is much better organized and more complete. You can read the first chapter for free, listen to the preamble, or see the reviews (1,2,3,4,5,6,7,8,9, A,B,C,D,E,F,G,H,I,J,K,L,M,N,O,P,Q,R,S,T,U,V,W,Z). Subscribe to the blog via email or RSS. Get updates on the facebook page, join the forums, and look for tactics on the ERE wiki. Here's a list of all the ERE blog posts.
Most people have been told
what to think and what to think about,
Most people have been rewarded by focusing on
what they have been told to focus on.
Most people, therefore, are not curious.
Most people are told
what to do and get rewarded accordingly
Most people follow
procedures and tradition.
Most people, therefore, are not creative.
Most people hope
that their dreams will come true
Most people believe in
positive thinking
Most people, therefore, believe in magic, but wishing or praying does not make things true.
Most people look to
others for clues.
Most people prefer
to hide in the crowd.
Most people, therefore, are not independent.
Most people do not
ask questions.
Most people adopt
the opinion of pundits and the advice of experts.
Most people, therefore, do not think for themselves, but rely on others to do it for them.
Originally posted 2008-09-10 00:33:36.
