If you're new here, this blog will give you the tools to become financially independent in 5 years on a median salary. 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 of losing their jobs.
Here's almost a thousand online journals from people, who are following the ERE strategy tailored to their particular situation (age, children, location, education, goals, ...). Increasing 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.
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 looking for the crowd's wisdom for your particular situation in the forum journals.
If you enjoy the blog, also consider the book which is much better organized and more complete. You can read the first chapter for free, listen to the preamble, or see the reviews (1,2,3,4,5,6,7,8,9, A,B,C,D,E,F,G,H,I,J,K,L,M,N,O,P,Q,R,S,T,U,V,W,Z). Subscribe to the blog via email or RSS. Get updates on the facebook page, join the forums, and look for tactics on the ERE wiki. Here's a list of all the ERE blog posts.
I like to collect links to interesting articles and sites that introduce new concepts which may or may not be useful to understand or model other things in life. I figured I’d share some of them with you. Incidentally, this is ERE post number 301 for those of you who are keeping count.
- Motivation at your finger tips. The length of your index finger determines how often you want to be physically active. Often it says nothing about how often you should exercise. Thanks to this I’ll sneak a peak at the index finger of the next person that carries too much weight.
- Fifty ways to challenge over-commercialism. My journey towards financial independence started with a hefty dose of anti-consumerism. Later I joined the dark side and became a capitalist. Hey, when you’re wealthy, you too will suddenly find yourself with a negative opinion on the capital gains tax! 😛
- Bill Gross on CQ or common sense quotient. If you ever hung around a Mensa chat room, you’ll see exactly what he means 😀 Incidentally, his uranium analogy is not very good.
- As We May Think. An article from 1945 on the problems of distributing knowledge. Replace microfiche with the internet and you’ll realize that nothing has been fixed yet. This is a systemic side-effect from the ways we do research and collect information. Does this mean that my work so far has been mostly for nothing?
Originally posted 2008-11-06 06:24:11.
