Best lessons learned from Jacob

[murpheyw]

Mine = multiplying your monthly expenditures by 300(=12/0.04)
What is yours?

[Q]

The latte factor expanded into that equation was the post that pulled me in actually...

[Concojones]

The realization that we can be perfectly happy on a student budget and with an RV for home. For me that was revolutionary.

[Kevin M]

1) Investing for cash flow

2) what Concojones said, even though I don't do it, it's nice to know it is possible

3) Not needing $2 million + to be able to retire

[Steve Austin]

There's probably more than a few lessons that I haven't even recognized. I think I'll wait for the book and it will be much easier to discriminate what I learned from ERE

(from what I "fore-knew"), and enumerate a list for you all.
But here's one that is more of an example, a pattern for success: how to create a social network that steadily grows (but not unsustainably) and does not devolve into flame wars. I can think of only a few instances in the comments section of the ERE blog where a troll appeared, was given a quick response, and then ignored as if nothing happened. There has been plenty of dissent, but it has always been civil and often mutually respectful. I find a lot of value in being able to consult the blog (and now this forum) without disruption by off-message rants. ERE says he's not so good with people, but I think the ERE "way" demonstrates a natural, perhaps latent leadership capability on his part. If I were to either set out to create a social network, or find that what I was doing was creating a network as a side effect, I would look to the ERE course as a useful and successful pattern.

[ScottfromMenominee]

Not only the possibility of retiring with less than $1,000,000, but that it could be done in about 5 years.

[Ralphy]

Spending more money upfront to buy quality products and being able to sell them later for about the same price. Seems obvious now, but I've made a lot of purchases in the past where price was my only deciding factor.
I started implementing this idea in my work tool purchases, and it is far more satisfying to work with higher quality tools than the junk I used to buy.

[Q]

Crowbar, Cycling, 21 day make-over (nearly best post(s) ever), Dogs of the Dow...

[firefighter]

Eating less (or no) meat.
-FF

[AnonymouserX]

To buy quality, used goods and to really think about whether the items I'm purchasing are truly necessary. I'm also trying to learn to fix things for myself.

[futuredoctor]

That it's possible to save 80% of your income and live on $6,000 a year!

[Marius]

Smart cost cutting lets you:

- save most of your income

- retire after a very short career

- live off a very small portfolio

[George the original one]

Seeing the necessary choices required to live on $6,000-$7,000 per year. Knowing that they're not so awful that I couldn't do it if the situation required it.

[Macs]

That whole 'save 75% of your income' idea - because I really didn't it believe when I first saw it.
Then I sat down and did some simultaneous equations, and WOW! It's true!
This more than anything brought home to me the big concept about being wealthy - it's not the income that counts, it's the spending. Since I found the blog I've become a lot wealthier on the same wages.

[Matthew]

Lead by example.

[futuredoctor]

Ah, that's a good one, Matthew.