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 how I how I enjoy a middle class lifestyle while only spending $7,000/year.
More importantly, here's more than a hundred online journals from other people, who are following the same strategy tailored to their particular situation (age, children, location, education, goals, ...). They have increased 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.
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 on losing their jobs to the next wave of downsizing.
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 delving into the forum journals and looking for the crowd's wisdom for your particular situation.
I burned a feed for the forums so you can subscribe via RSS (google reader et. al).
Lots of good info there. In the slightly less than one month, the forums have existed, they have grown to
- 228 topics
- 2405 posts (77 per day)
- 180 users
They include topics I don’t normally cover on the blog, such as specific countries, which states are best for early retirement, careers, etc.
You don’t need to register an account to read the forums, but you do need to register an account to post.
The forums are also the best place to ask if you have a specific question—”I am NN years old and have $XXX,XXX dollars invested in X, Y, and Z, my plan is … what do you think?”—instead of sending it to me (I have an embarrassingly large back-log of e-mail messages).
Incidentally, it is also possible to subscribe to all the comments on the blog or even subscribe to the blog—quaint, I know.
Originally posted 2010-08-20 13:04:18.