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.
Andrew Lahde, the manager of a small hedge fund, who returned 800%+ by betting against the subprime mess, decided to end operations at the peak. He left this goodbye letter. While I do not agree on the tone of the letter, I think 90% of his points are valid and that they need to be raised. Also, not only do they need to be raised, but something needs to be done.
I am currently working on some aspects of this (yes, on top of everything else) which explains why posting will remain sporadic for a while. Sporadic means that I will write a post whenever inspiration strikes me.
Meanwhile if you have any questions, send them to myfirstname @ earlyretirementextreme.com (or leave a comment below). I’m generally reluctant to give advice since everybody’ situation is different, but I almost always have an opinion on everything 😉