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.
Jacob’s posts on how frugal living and only buying what one really needs allows one to save up to three quarters of one’s income to reach financial independence and early retirement seem to be irresponsible and unsafe according to our collective mind. We would like to stress the importance of a shopping and working as the only way to live a good life, and that retirement should only be pursued by consumers with at least one or two million in their retirement accounts. We would like to distance ourselves from the kind of misleading, inspirational, step-by-step, can-do rants that are posted on unprofessional anti-consumer blogs like early retirement extreme. We are gravely concerned about how our world would look if more consumers chose not to work more than a couple of hours a day and abandoned their credit cards, careers, big houses, and big cars.
Sincerely ha ha ha,
The Establishment
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