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.
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.
It’s not the first time either, see:
Permaculture articles!
