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.
Today I went riding on a 20M loop. I passed 10-12 riders heading in the opposite direction. First the was the solo riders in team wear, then a couple of riders wheel sucking following by other couples (husband & wife). These were followed by the hoi polloi, people riding three or four abreast chatting, a bunch of wavering adolescents on cruisers blocking the cars behind them (argh, you give the rest of us a bad name). Finally there was a lone straggler. It must have been a club ride or something. About a third waved back 
It was the plan to pick up DW and go for an out and back ride in the opposite direction to get to 50M. That didn’t work. So we went fishing instead. Tomorrow we’re going fishing again. After that I’m skyping with my parents; followed by hockey. We’ll be leading the play-offs, if we win tomorrow.
Now, I have to figure out a way to put in some more miles on the bike. If I skip weekday hockey, I can add miles after work without overtraining.
This is necessary. There is no way back. I signed up for the 100M in 2 weeks.
Originally posted 2008-04-19 21:13:15.
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