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.
Paperbackswap.com has turned out to be great for “upgrading” my personal library. I list books I haven’t read for a year and which I can not really imagine reading again. Since books are swapped one-to-one it has turned out to be less great for getting rid of books (and I have a lot of books to get rid of) unless one desires to build up a stash of “credits”.
Certain other books of mine will fetch a hefty sum; I’m thinking of some of the graduate level textbooks that I have never read, but which I bought in case I might read them or in case they went out of print (you can never check these out of the library since it’s always sitting in some guy’s office). The one’s I have never opened are going as well.
Then there’s DW’s giant comic collection (X-men and others) which takes up a LOT of space. We have yet to find a buyer. Maybe J.D. at Get Rich Slowly would be interested – I hear he has a comic book fetish
This week’s carnivals:
