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EARLY RETIREMENT EXTREME BOOK

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The book provides the principles and framework for a systems theoretical strategy for Early Retirement Extreme and millions of other books are available for. If I had to sum up the Early Retirement Extreme book by inventing my own title for it, I would call it, “The entirety of human civilization and. Start by marking “Early Retirement Extreme: A Philosophical and Practical Guide to Financial Independence” as Want to Read: Early Retirement Extreme shows how I did it and how anyone can formulate their own plan for financial independence. In the Early Retirement Extreme Jacob Lund.


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The title of the book is “Early Retirement Extreme — A philosophical and practical guide to financial independence”. You can find the links to. Early Retirement Extreme: A Philosophical and Practical Guide to Financial Independence: Jacob Lund Fisker: Books - myavr.info Early Retirement Extreme by Jacob Lund Fisker, , available at Book Depository with free delivery worldwide.

You must write a lot. Think of it as writing on high school length essay on pretty much the same topic every single day for the next three-four years. If you can do that without losing your mind, you can be a successful blogger. In comparison, I guesstimate the ERE blog to have about , words—the book itself is about , In addition you need to be interested in monetizing.

This may be fun for you or it may not. This is something to keep in mind. I was in my late twenties, working a full time job as a nurse aid, and I spent my free time playing expensive video games.

Am I just going to keep working for most of my life, then mindlessly consuming media to entertain myself? I wanted a business, and one that was largely passive. I sold my video game systems and devoted all of my spare time to creating websites. At first, I had no idea what I was doing, and nothing worked or made me any money at all. In fact, I lost small amounts of money at first. Not luxuries like a TV or a BMW, luxuries like a police department, electricity, fire department, armed forces and everything else you seem to take for granted.

Remember that I did work for my money thus providing an employment input. I did not inherit it, nor did I get it handed out. You can search for my name in google scholar for my work output. I did write more than 25 journal papers during my career. I covered what would happen if more people did like me in comment I think it would be an improvement! The basic initial rational behavior in an economic environment is that of self-interest, and the ecosystem sorts itself out.

All ERE transactions are voluntary. I am not forcing anyone to borrow money from me. In other words, if more people started doing it, interest rates would go down. This would require more assets to live on interest income and people would either have to spend less or work more.

The economic balance will adjust smoothly. There are no discontinuous collapses. Just an adjustment to a more sustainable way of life. There are things on the federal ledger that almost anyone would disagree with some more than others , so paying less towards that bill is a worthy goal. There is absolutely, positively nothing wrong with enlightened self interest.

In fact, it may be preferable to your system of servitude. And he did all of this through enlightened self interest rather than some harebrained idea that he owes his live to his fellow people.

This is the very essence of why free markets work — people will be compensated for providing something that people want. Fisker, but why would we want to? We get a lot of joy from watching our kids succeed which sometimes means private lessons. Maybe that makes me shallow? How about the money we are able to use for the less fortunate? In fairness to Mr.

Also, one final comment. And sometimes I get bikes from freecycle, fix them up and send them on to the shelter. I see no virtue in paying taxes. I do what I can to minimize mine.

See a Problem?

I also see no moral obligation to work in order to pay more taxes. I have taken rising health care expenses into account. This is not the case. Nothing wrong with fashion as long as you recognize it for what it is.

I had a physics teacher in high school who liked to do this kind of mock apology thing with gender pronouns all the time. Of course, he was a sexist jerk in many many ways outside of the pronouns he used. I would stop if I were you. I found this sexist attitude to exist on the ERE site as well. It was what turned me off from visiting there.

They are genderists or sexists or simply expediently trying to please those who are and that is not good! Now, I suspect some will say that gender issues is still a problem and in some parts of the world and for some people it is. However, I say the problem is in the way you think and for those specific countries or people. Not in the words we use today. It is the s now… not the s and 60s. But this is now! I do not feel the need to explicitly point out that men and women are equal in all regards in every sentence I write.

Feel free to substitute she for he and her for him and -person or -woman for -man.

The equivalent for a male was wap resulting in wapman. The wap has subsequently been lost and so wapmen are now just called men. For someone bent on challenging the norms, you are sure quick to hid behind them in this case. But the gist of my argument is: Consider that there are now more females going to college today than males.

Is this a problem? Not to me.

Even though this will likely mean that females on average will have a higher income than males in the future. However, women also tend to go into fields which pay less on average than men.

My answer. Nurses are not paid more than scientists, who are mostly male, because they are mostly female. They are paid more because they are nurses. If I wanted more pay, I could have just become a nurse. If a couple decides to have the dad stay at home instead of the mom, the dad will be earning less when he goes back.

This is not a gender issue. This is a couple issue and most couples choose the mom. If we had a kid, the one to stay at home would be me.

This will look good for the income data in terms of equalization but my retirement really has nothing to do gender issues.

I guess this goes back to the main issue. An individually perceived problem. It is seeing something that is not there. Even after accounting for all that, women still are paid only Also what you might think is but a footnote in history is still alive and well today.

Early Retirement Extreme : A Philosphical and Practical Guide to Financial Independence

Even in your dismissal you start to probe at cultural bias. Surely educating children or being a nurse is more important than shuffling around some papers, yet if salaries are a thing to go by, then we certainly place less value on work that is traditionally associated with women.

This makes it much harder for people to accept because the truth is more in statistics, and minds tend to not operate on that level. We may no longer shun unmarried women, but promiscuity is still looked down one whereas it is encouraged or even expected for men.

Though even without calling someone sexist, I can understand how just the idea that sexis, still exists might be threatening. After all if sexism is putting women down more than men, that means that someone who I might think my equal would actually be better than me.

With divorce rate what it is? Is ERE something achievable in that case? Or is it more like NTER not-that-early-retirement for them? Jacob takes a more philosophical view as opposed to here are some money saving tips.

I think the way he puts it is it is more important to do the right things than it is do to things right for financial independence. He attacks large expenses housing, food, transportation in a big way.

Book Review: Early Retirement Extreme

Now I plan to retire much sooner. Less looney-binnery please. Living like this guy has appeal to readers of this blog the same way living like Robinson Crusoe or the Boxcar Children does: I for one would much rather experience and enjoy culture, both in my country the US and abroad, and enjoy food, and enjoy other weathers and views and peoples and languages.

I would much rather have many experiences and enjoy my life without wondering which minor illness and resultant MRI is going to wipe out my perfectly planned shoe-string retirement. The value of doing things yourself and making things I can appreciate I work in construction and help build incredible public buildings , but you can do and value those things while also doing other more costly things. Need a can opener? Get stronger. Bike broken? Car needs an old change?

Learn to fix it. Dead trees lying around? Learn to use a chainsaw.

Early Retirement Extreme : A Philosphical and Practical Guide to Financial Independence

Because I enjoy it. Then I saved that much and found that, hey wait, the past performance of the stock market is no indication of the future performance in any way really, so I increased the target amount to 1 million. Then I realized that, oh yeah what about the currency itself, what happens if the USD declines relative to other world currencies or commodities in the future.

Then there is inflation.

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Of course that means you need more money in many different kinds of investments to cater for any possible outcome in the future. Children, living a life your happy with, health care, these are all road bumps, to me the central problem is that it is impossible to forecast the future far enough out to retire at There is a diminished return in certainty for the future as it takes exponentially more money to get incremental amounts of certainty that you can cover your expenses indefinitely.

This has historically been safe and survived world wars, thirty year wars, collapses of nations, etc. Having 5M instead of 1M is probably not going to buy a whole lot of additional security for a complete currency collapse think s Germany hyperinflation.

Pop quiz: When is QE2 ending? For more safety, you would need to diversify away from financial resources to provide your wealth. For additional security, you need to get hooked up with the local power structure so to speak. I have yet to focus very much on that aspect. There is a magic number that if you could see into the future and make the correct investment decisions at the right times then you will be fine financially.

I think some got the impression that I now work full time as some kind of homesteader. This is far from the case. I only do the things myself where the return on effort is high, e. So what I think is that diversification is the key. This means acquiring economic resources with different methods instead of just one, money. And it means being able to get money in different ways too, not just a job or a nest egg. It is surprising to me how diversification is strongly recommended for investing whereas concentration is strongly recommended when it comes to ones job.

This dichotomy is very hard to make sense of. I currently have three streams of income assets, book, blog. I have an option on a fourth editing. I think this kind of resourcefulness is vital or at least helpful during the zombie invasion, etc. For example, when the Great Recession hit, I barely noticed it. It did change for a lot of people who were planning to retire on their nest egg and suddenly found it cut in half and it did change for a lot in the one-job-one-walmart model of personal finance.

This will become worse as the population grows even larger and when a bigger fraction of the rest of the world becomes able to compete directly for US resources simply by buying us out—hopefully not by starting another world war. Not exactly rocket science and better illustrated with a picture as in YMoYL. Though both are assuming a parabola rather than diminishing marginal returns. With simple concepts like that, some folks try to communicate and some folks prefer to intimidate.

I was trying to tell JD that he sent me a draft of the review but he wanted to make a point about me using [too many? The whole section discusses the law of diminishing returns and how to optimize. So I provide a way for those who want to gloss over the math to understand it as well as a way for those who are frustrated by books who just pull a graph out of the hat.

The other equations in the book have similar graphs. In addition, I provide the detailed derivation rather than just providing the end result leaving the rest as an exercise for the reader or simply quote some source. Some readers have thus been able to easily replicate my graphs in their own spreadsheets, see e. So consider that while equations are [unfortunately] intimidating to some, which I think we can blame on the educational system, they are also very helpful to others.

Your blog motivated me to do a LOT of thinking and reassessing. Many, many thanks! I had the exactly same reaction when my son pointed out the site to me! I read the book and it radically changed my outlook on Personal Finance and life.

Jacob, thank you for the blog. Still have to read the book. I want to be where you are at. I wonder how many people are FI-ers?

I am sure there are quite a good amount of them. How many are willing to share what they know? Something to think about. I thought the formulas were pretty boring and I skipped through those pages.

Its style is too academic. Personally I think there are better books that cover the subject better and are much better organized. I hate that, sometimes people will thumb down people just because they disagree with them on one issue. I think what Jacob did, and what he continues to do, is pretty amazing. I have been inspired to start my own blog and chronicle my own journey to early retirement and financial independence.

I canceled cable. I hope that Jacob inspires more readers to stop saving to spend and earning to buy. Sounds like an interesting book. I know that people can live like this, I even know people who enjoy living like this. However, I think this as with most approaches depends on the person. I for one would not be happy on this plan.

Plus I enjoy my work, I want to write and teach. I prefer to have a bit more entertainment now and retire when I am older.

Keeping your personality in mind is key to finding a plan that works for you. Not sure I understand the math on this. In other words, he saved three times more than he spent 75 divided Where does the 25 come from? I am 40 pages into the book and all I can say is: Seriously, hire an editor. Your email address will not be published. Fisker notes that the book only has about twenty equations, and sixteen of them belong to one argument about investing.

This is true. But Early Retirement Extreme does read like a textbook, and there's other math, even when there aren't complex calculations involved. Plato's allegory of the cave — like The Matrix for ancient Greeks. Think Early Retirement Extreme sounds too extreme?

Check out these journals over at the ERE forums. Here's where other people are documenting their experiments with this lifestyle. My real millionaire next door is an example of someone who adheres closely to the lifestyle Fisker describes.

Evidence that this works? Something else entirely? Roth In , J. Like What You've Read? There are reader responses to "Book Review: Early Retirement Extreme". Canned grits? I had no idea there was such a thing. Good to know where things really stand, I guess. I got it. But still there is alot of food for thought here. Most fans of ERE are very interested in resource efficiency, peak oil and self-determination.

Apparently if I hit reply, I can see all 14…. I would love this feature. It is much like personality typing psychology.

Many personality typing theories work with a limited finite number of types, like 9 or However, obviously there are more than 9 different kinds of people. People tend to be a blend of several types. It is a way of thinking or a starting point for discussion.

It is not leveraged and the goal is to maximize efficiency rather than profit As mentioned in the book, dividing populations into four types is VERY common and done in many theories because it derives from 2 independent dimensions.

Oh, please, ERE. Substitute person for man. How hard is that! I agree with J. Even when subtle, language can be dangerous. I still want to know which kind of man I am. For that matter, which kind of man is your wife? Oh my God, people!

His lifestyle intrigues me though. I may have to investigate: His wife does it too.

Not all women want to shop til they drop! His wife is still working. Well said, Nerdo. Who would I cite? Sometimes I found that others had said the same before, but then in many cases, I found that the ideas were dated even earlier. I have included enough of the arguments in the book so that readers may decide for themselves whether they are correct without having to consult authority.

I am an Engineer so this sounds like a good book for me…lol We are thinking along the lines of semi-retirement but maybe this book will help us reach it earlier. Hey, all.

The thumbs were a surprise to me, too. Sometimes the technical elves are sneaky. Definitely the right direction JD — just need the kinks worked out! The book does address spouses and children.

Anyone remember Amy Dacyczyn of the Tightwad Gazette? She had 6 children. The thing I like most about ERE is the way it encourages you to think outside the box.

Most people will continue to some form of work but my goal is to be able to pick and chose what I do. Great point on healthcare- that occurred to me as well, but I guess you got there first. So his funds never run out as such assuming it works! I overshot my savings for my needs and thus my investments are generating more money than I can spend. I think providing health care for a family greatly increases the amount you need to have saved.

Oh, I so badly wanted to make this point, and not surpisingly Tyler beat me to it. This argument jumped into my head when I read the little point about in-sourcing everything. If I had kept working, I would have been a millionaire next door at age As for my early 30s— too late for that though: You could also say, as some do, that I changed my career to writer. What people want to do with this freedom is up to them.

The most accurate short hand description for this is: This guy might as well endorse The Welfare man. It would never occur to them to chop garlic with a knife instead of using one of the many different designs of garlic press.

The focus has moved from a healthy lifestyle to affordable health insurance, making health a product rather than a state of being. Critical thinking has been replaced by opinions derived from pundits and political and religious leaders since people prefer having other people think for them. World affairs are replaced with celebrity reporting, and satirical news is often more analytical than real news.

Student loans are often considered an investment The reward for running on this treadmill occurs not through the satisfaction of doing a good job, but from the semimonthly paycheck. A world without trees selects the short-necked giraffe, which is better adapted. Similarly, the career track selects people who are willing to give up their lives for the sake of work.

In the past, pursuing this goal was admirable since any increase in production resulted in an increase in well-being: better food, better medicine, better clothing, better housing, better work, and better living.

At some point, the focus changed from better to more: more food, more medicine, more clothing, more bedrooms, more bathrooms, and more work. Rather, it results in more being done. In this case, interest is no longer the cost of doing business. First, reduce waste and increase efficiency. Second, having significantly reduced expenses, invest the difference in businesses.

Third, find something meaningful to do instead of work. For a consumer, food, shelter, etc. Loosely coupled systems have slack. Changing the tightness or looseness of a coupling is therefore a way of adjusting risk versus profit. When activities are linear, the result from adding activities or from increasing the effort is very predictable. Contrast this with the nonlinear work of an entrepreneur, a scientist, or a football coach.

Most salary men are specialized wage earners who earn money from one source only. Salary men have options, but they do not create options.Spread the word. I know that he inspired me to start my own blog, which is basically a journey to my own ERE.

Second, having significantly reduced expenses, invest the difference in businesses. They are trendy now? I have always dreamed of being a writer, particularly one that can write solely for my own pleasure rather than writing for an audience.

The value of doing things yourself and making things I can appreciate I work in construction and help build incredible public buildings , but you can do and value those things while also doing other more costly things. For example — I enjoy the philosophy of self-reliance and acquiring skills espoused on the blog, Jacob comes across well if a bit too focused at times and there are some very good discussions about the concept.

The resulting cognitive dissonance might be too much to bear.

MADELEINE from Arkansas
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