Early Retirement Extreme: A Philosophical and Practical Guide to Financial Independence
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 ...more
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 ...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 ...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
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 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
The message is near and dear to my heart, but the writing is rather dry (as you would expect from a PhD physicist), and many of the suggestions will be beyond extreme for most readers.
Favorite Quote: It is interesting that we refer to “primitive” people as primitive, when every primitive person is able to build his own tools and shelter, make his own clothes, provide heat and water, and knows what food is edible and what isn’t. How ...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
This is a ...more
The author has clearly shared his idea on how to retire early given his country's economy which is USA. So, some of his tips or concept perhaps may not ground in international readers. But that doesn't mean it is off-limit to us (non USA people).
Now back to actual book. Fundamental ideas of this books would be 1. Save >60% of your net income (after your calculation on how much is monthly ...more
The writing style is very left-brained... and I loved it (the author is a physicist)! He recommends a variety of 'tactics' and ...more
The first is a philosophy much like Taleb. It's a way to see the world anew, maybe even more "accurately" and become more robust.
The second is how to act within the new philosophy but mostly stops short of what.
I say tried, because it was a real struggle to finish it. Not because of language problems but because of the content itself.
I expected some real, helpful tips HOW TO RETIRE early, according to the title.
In the end, you can sum the book up to two points:
- save money in the weirdest ways
- society is unlearning handy abilities, learn them again
A good read to start the year right. Jacob provides formulaic guidance to the numbers and elaborates on the principles one should look to in order to achieve financial independence / early retirement. Some parts get repetitive but I suppose it is really to drill the message in.
Time to work on my own strategies I suppose.
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 ...more