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.
One of my informal theories is that a great deal of human performance metrics span about an order of magnitude. A very strong person is about 10 times stronger than a very weak person. A very fast person is about 10 times faster than a very slow person. In particular
- There are some for whom a marathon is just a training run.
- There are some for whom a 5k is just a training run.
- There are some for whom 500m is just a training run.
- There are some for whom walking is just a training … walk.
- …
It is very interesting how wide the range can be. I use it as a reminder: Whenever I think I have accomplished something which I think of as impressive there are probably someone out there for whom what I just did was routine.
Originally posted 2010-05-04 16:48:52.