Early Retirement Extreme: A Philosphical and Practical Guide to Financial Independence
My high school required all students to take a home economics course, which involved cooking potatoes, sewing a shirt, and basic pantry keeping. What a lost opportunity! The world would be a better place if that curriculum were replaced with a semester-long study of this book. I wish my peers and I had been exposed to these ideas before we left for college and started making life-shaping economic decisions.
The book is densely packed with ideas and difficult to summarize. That sa ...more
1. Work for a while.
2. Learn how to be frugal and then learn how to be cheap--really, really cheap; e.g., put your clothes into a bucket with some soap and water and drive down a bumpy road (no kidding--that's one of his tips).
3. Self-publish a book and call it "Early Retirement Extreme" even though it has no blueprint for retiring early.
Here's a conden ...more
The philosophy early on in the book was similar to mine. For instance, I think it makes no sense for houses in the suburbs to have postage stamp, individual lawns to take care of with the associated lawn equipment when it can be obviously more efficiently done by one person who is dedicated to taking care of all of the lawns.
As the book goes on, the author focuses ...more
This was one of the first books I bought for the Kindle that really began to use the additional features that the machine offers. Specifically, the ability to cut and clip paragraphs that you find notable and the ability to make your own notes as you read were very useful as I worked my way through the text. For me, the most enjoyable thing about this book was that it offered quite a different take on the w ...more
ERE is a philosophy book more than anything else. Fisker offers a way to get off of the 9-5 treadmill, mainly by radically cutting expenses and saving a high percentage of your income for a long enough time to get to the point where you have many multiples of your annual living expenses.
It is not a "recipe" personal finance book. Rather, he asks some very fundamental questions about the nature of work, advocating that people become "renaissance men" ...more
The book is a lot of common sense: Save early and aggressively until it hurts and then save ...more
Be warned, it is a thinking mans(or womans) book. It will make you think and it will make you question the things that we all do in our day to day lives.
Pick it ...more
“By sowing frugality we reap liberty, a golden harvest." - Agesilaus
Lessons learnt:Align your goals, let them build on each other. Money should work for you instead of the other way around. There are better ways to live than the 9-5 lifestyle.
What is money to you? Is it something you always spend when you have it? Or is it something you save up for a rainy day? In the Early Retirement Extreme Jacob Lund Fisker proposes another way of thinking about money: as your employee. Instead of working for ...more
Some of the reviews of ...more
"With proper diversification, if one income-generating module...more
I wish I read this when I was 21. Today, as an actual thirty-something retiree, I'm not sure how useful it is to me.
Jacob Lund Fisker is a guy who lives a kind of extreme lifestyle. He lives in a mobile home with his wife, spends less than $10,000 a year, foregoes appliances (like a washing machine) that many of us consider essential, and doesn't own a single thing he doesn't use at least twice a year. On the plus side, he retired at the age of 33. This wasn't an "I'll spend a year hiking the Pa
The last 1/4th outlines specific details on how to achieve rudimentary comfort on $7-10,000 per year per ...more
This is not a book about retirement only - don't be deceived by its title. I have no plan to retire soon - or ever. This is a book about personal freedom, the freedom to choose whether to work or not, the freedom to go your way uncluttered by peer pressure and the fre ...more
Unfortunately, I kept waiting to get to "the good part". I was still reading the philosophical part of the book, waiting for the good part, when I looked down and realized I had read over 40% of the entire book. Wait! I paid $10 for this book, and I want to get to the good part before I'm done!
I thought the part about investing was truncated and hasty comparatively to the beginning of the book. Fisker talks about investing in very general terms and quickly ends up with the idea that you need enough asse ...more
Then, chapters 6 and 7. These are the only chapters filled with useful, specific advice.
The beginning of the book, more than half of it, is a treatise on the wastefulness of the typical modern lifestyle. If, like me, you are someone already in this path and looking for more useful advice from someone who has already retired, then, like me, you may find this half of the book rather annoying ...more
I run a blog about personal finance and have published one book about the same topic.
I'm currently working on an investment book, a beginner's book on financial independence, and a book on ethics.
I've also written a chapter in a book about peak oil, some creative stories for an ezine, and about 30 papers in academic journals mostly concern ...more