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.
I would like to thank my commenters for harassing me about getting a library card every time I have been ranting about swapping books or otherwise buying them used as a way of saving money. While this does indeed save money, it does not beat free. The same goes for DVDs. While the library or even interlibrary does not have the same selection as amazon or netflix they do have most of it. I can order and renew loans online and walk over to the local branch in less than 10 minutes, so I have been a frequent customer over at the local branch. Actually, they now know me by name over there and greet me like a Tokyo restaurant (“Hellooooo Mr. #####, so how many books are you picking up today?”) which is getting kind of embarrassing along with the 15-20 checked out books I continuously carry. Oh well
So if you haven’t gotten a library card yet due to general procrastination, try it out.
