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.
Invest it Wisely has a competition, where you can win a copy of the ERE book. See here for details.
If you mainly read this blog via email or RSS you might have missed some of the other reviews. You can see them only in the box at the top center going something like (1,2,3,4,5…..A,B,C,…). This box is only shown if you’ve visited the blog more than four times, so here they are again (1,2,3,4,5,6,7,8,9, A,B,C,D,E,F,G,H,I,J). Many interesting comments there.
I’m still trying to figure out whether to write a second book and if so, what to put in it. There are two competing ideas.
- An abridged version including an audio-book; about 75 pages long. This would be a severely shortened version of the current book.
- A how to book which is similar to the 21 day makeover; less than 100 pages long. Such a book would be intended for people who are overwhelmed by the first book and don’t know where to start or those who would prefer to follow a “do this, then do this, then do this, prescription”.
I’m still mulling it over, but now that 3 months have passed since the release of the first one, I have regained the desire to start writing again.