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.
Ever considered what it means to say that a book is alive? For me a live book is a book where I gain a new insight every time I read it because previous readings + the experience I’ve gained in the mean time unlocks new understanding. In that sense the book is alive because it helps one grow and its impression grows alongside. It changes. It can’t be downloaded into the brain.
Conversely, a dead book is a book that remains the same every time you read it. It does not change you. Even if you change on your own, the book would be dead if you do not gain anything new after reading it.
What’s alive and what’s dead is different for different people.
I tried making the ERE book alive, but the most alive book I know is Musashi’s Book of Five Rings. This book is often used by bankers and business men for its strategic and inspirational concepts. Personally it did not become alive for me before I took up sword fighting. The first time I read it many years ago, it just went over my head.
Originally posted 2010-11-05 13:29:03.
