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 see it this way. I need something to get me from A to B. Why own a crappy $1500 car that needs to be replaced in a few years, when I can own a pretty smooth $1500 bicycle that could potentially outlast me. Why the obsession with size and power over quality and longevity?
If you live in a small house, you can pave the floors with gold. If you live in a large home, this is not an option. If you drive a bicycle you can afford to drive the best. Few car drivers can afford to drive the best cars.
Now it may be that finely crafted bikes do nothing for you. In that case, just get a free bike on freecycle or get a cheap used bike on craigslist. If you want to indulge yourself, though, these are some very classy looking bikes.
I’m sure I forgot some here. Any others?

Originally posted 2008-12-19 17:09:12.