What is essential to ERE?

Simple living, extreme early retirement, becoming and being wealthy, wisdom, praxis, personal growth,...
Scott 2
Posts: 2824
Joined: Sun Feb 12, 2012 10:34 pm

Re: What is essential to ERE?

Post by Scott 2 »

Good news, I found precooked bricks of lentils at Trader Joe's. Now all ERE takes is $3 and a microwave.

Real answer - complementary web of goals, producer mentality.

JamesR
Posts: 947
Joined: Sun Apr 21, 2013 9:08 pm

Re: What is essential to ERE?

Post by JamesR »

What's essential to Retiring Extremely Early?

It's a maximization/minimization problem:
  • Save a shitload (80% savings rate!) & invest it (4% SWR!)
  • Live for next to nothing (20% cost of living!)
  • Do things to be more self-sufficient
    • Cook from staples (sub-$80/mo food bill!)
    • Explore alternative forms of shelter like an RV ($300/mo rent in SV!)
    • Leverage hobbies to produce extra income for you! (Bazillions!)

fella
Posts: 2
Joined: Mon Apr 10, 2017 7:06 pm

Re: What is essential to ERE?

Post by fella »

I think most ERE people have the firm belief that they are in control of their own destiny/life.

When I fail at something I see it as a choice I made, not something that happened to me (This is closely tied to yoda's do or do not philosophy). The same goes for when I succeed. Of course there can always be some major circumstances that derail the best of plans but the mindset is what is important.

I forget what Jacob calls this in his book but I think it is essential to my ERE journey at least.

BRUTE
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Joined: Sat Dec 26, 2015 5:20 pm

Re: What is essential to ERE?

Post by BRUTE »

internal locus of control?

ducknalddon
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Re: What is essential to ERE?

Post by ducknalddon »

fella wrote:
Wed Apr 12, 2017 7:12 pm
I think most ERE people have the firm belief that they are in control of their own destiny/life.
I think you have to be careful with that, some things are within our control but much isn't. We don't live in a meritocracy and the more we believe we do the worse we seem to treat people who happened to be less fortunate than ourselves.

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jennypenny
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Joined: Sun Jul 03, 2011 2:20 pm

Re: What is essential to ERE?

Post by jennypenny »

Fish wrote:
Thu Mar 23, 2017 9:18 am
What are the essential attributes (mindset, actions, external and material circumstances) of a person that is ERE?
living in and facing up to reality
paying no mind to what you're supposed to be doing
being steadfast about the goal but not the method
building a system that can withstand significant setbacks in key areas

fella
Posts: 2
Joined: Mon Apr 10, 2017 7:06 pm

Re: What is essential to ERE?

Post by fella »

ducknalddon wrote:
Thu Apr 13, 2017 10:10 am
fella wrote:
Wed Apr 12, 2017 7:12 pm
I think most ERE people have the firm belief that they are in control of their own destiny/life.
I think you have to be careful with that, some things are within our control but much isn't. We don't live in a meritocracy and the more we believe we do the worse we seem to treat people who happened to be less fortunate than ourselves.
You definitely bring up a good point. I always try to be aware and thankful the of ways in which I'm fortunate, and being in a bad situation is often not that person's fault. My point is not to say that successful people are more "fit" or better in any way, just that it is important to have this mindset to make positive change in life.

Campitor
Posts: 1227
Joined: Thu Aug 20, 2015 11:49 am

Re: What is essential to ERE?

Post by Campitor »

What are the essential attributes (mindset, actions, external and material circumstances) of a person that is ERE?
  1. Flexibility. Evolve your skills and strategies to compensate for the external pressures, positive and negative, exerted on your financial independence, resources, and well being.
  2. Mastery. Constantly educate yourself in regards to finances, self reliance, philosophy, and health in order to gain greater independence and flexibility.
  3. Mindfulness. Question your motives and decisions frequently in order to live and act deliberately. Be aware of 2nd and 3rd order effects that impactful decisions may have.
  4. Resilience. Be the "glass is half full" person in the room. Keep your mind and body healthy. Avoid unneeded negativity but knuckle up when obstacles get in the way of your systems and goals. Laugh frequently and deeply - its amazing for your health. Seek meaningful experiences.
  5. Frugality. Husband your resources via efficiency; money, time, friendships, mental/physical energy, etc.
  6. Discretion. Not everyone needs to know about your ERE philosophy, the state of your finances, or your future plans. Don't brag about "not being in the rat race." And your social capital will greatly increase if you know how to keep a confidence.

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