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.
To prepare for downsizing we had a garage sale today. We got rid of a bunch of stuff. The median price was about $1 and the average price was not much higher, and overall we sold for about $60, so all in all we did manage to shed a bunch of stuff. It still looks “crowded” in our cupboards, as most of the suff came out of boxes that were hidden away in the closets and the outdoor shed. This saddens me and I do think we’re still quite far from fitting everything into an RV (if that is the ultimate choice).
Some garage sale tips:
- It was clear that most people came between 9 and 12. After that it was pretty much dead, so next time we’ll probably hold it from 8a to 1p instead.
- We did not buy signs or advertise in the newspaper. Instead we cut up a cardboard box nad made signsout of that which we duct taped to sign posts around the neighborhood.
- We did not rent tables. Instead we put boards (which we had) across the totes and boxes that the stuff was stored in – that worked well.
Since we “only” made $60, I would have been disappointed if we had paid money to sell the stuff.
This week in the carnivals:
