Early Retirement Extreme
As explained by Jacob Lund Fisker, blog host of Early Retirement Extreme,
If you’re new here, this blog will give you the tools to become financially independent in 5 years. Here’s how I did it and here’s how I currently do it. The method is robust and replicable (no need to win the lottery, start a blogging business, or win at real estate), but not easy; much in the same way that a diet results in weight loss but is hard to follow persistently unless you set your mind to it. The key is to save 75%+ of your net income and invest it in income producing assets (bonds and dividend stocks). There is a “21 day” step-by-step plan for how to get beyond 75% in the left side bar.
Early Retirement Extreme is one of my favorite blogs (and I’ll eventually get around to ordering Mr. Fisker’s book). The key word in his early retirement plan is “extreme.” He cut his expenses back to a point that most people wouldn’t be willing to do. However, if you want what most people don’t have, then you have to be willing to do what most people won’t do.
Even though I’m not willing to cut back on my creature comforts and pleasures to the degree that he did, his ideas have greatly helped me streamline my expenses. I fall into the “Expeditioner” category the Sovereign Man blog host talked about in his post The 7 Expat Categories:
EXPEDITIONER: You are a classical traveler in the mold of British merchants and explorers– you want to make the journey overseas, but you want your amenities too, complete with a triple mocha latte.
You want to storm the plains of the Serengeti… with an armed guide. You want to see India up close and personal… then go back to your five star hotel.
I want my hot cocoa whenever I want it . . . and my pillows fluffed up “just right” with a chocolate mint left on them. I don’t want to cut my own hair or give myself manicures. I want others to do that for me. I’m not into “roughing it” sorts of lifestyles. Nevertheless, it IS possible for people to combine:
- the creation of multiple passive income streams, and
- the tips and strategies for reducing expenses described in great detail at Early Retirement Extreme
to create a lifestyle for themselves in which they DON’T have to trade their life for money with the daily grind of a 9-to-5 job. At minimum, it’s possible to significantly reduce one’s dependence on a job.
As Sojourners, we already know we can create our own “luck.” And make our daily lives more about what we want to do, as opposed to what we have to do. Take a look around Early Retirement Extreme.
Tagged as: lifestyle optimization