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.
This is what you should keep next to your bed (if you live in earthquake territory—the suggestions are good for fire as well though)
- Crowbar or wrecking bar
- Bath robe or similar “suit” that can be put on in two seconds.
- Sturdy work gloves
- Boots that can be put on in two seconds.
As a bonus you can also keep a small bag with real clothes. Make modifications accordingly. If you live on the second floor, keep a rope ladder.
Additional supplies should be kept somewhere else, where the roof will not cave in on them, such as a small (lockable) shed outside—use a combination lock, lest you forget the key in the house.
As a side note, I have experienced three earth quakes. Two in Switzerland and one in California. None of them were more than a small tremor that lasted a couple of seconds—most of that time I did not spend running out of the house but trying to determine what was going on.
Originally posted 2009-07-21 10:05:34.
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