Best lessons learned from Jacob

Favorite quotations, etc.
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murpheyw
Posts: 55
Joined: Wed Jul 21, 2010 10:17 pm

Post by murpheyw »

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


Q
Posts: 348
Joined: Thu Jul 22, 2010 8:58 pm

Post by Q »

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


Concojones
Posts: 117
Joined: Fri Jul 23, 2010 6:57 am

Post by 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
Posts: 211
Joined: Thu Jul 22, 2010 8:58 pm

Post by 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
Posts: 177
Joined: Thu Jul 22, 2010 12:17 am

Post by 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
Posts: 42
Joined: Thu Jul 22, 2010 3:00 am

Post by ScottfromMenominee »

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


Ralphy
Posts: 198
Joined: Wed Jul 21, 2010 11:41 pm
Location: Iowa

Post by 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
Posts: 348
Joined: Thu Jul 22, 2010 8:58 pm

Post by Q »

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


firefighter
Posts: 18
Joined: Tue Aug 03, 2010 1:03 am

Post by firefighter »

Eating less (or no) meat.
-FF


AnonymouserX
Posts: 7
Joined: Wed Jul 21, 2010 10:00 pm
Contact:

Post by 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
Posts: 34
Joined: Tue Jul 27, 2010 4:03 am

Post by futuredoctor »

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


Marius
Posts: 257
Joined: Thu Jul 22, 2010 1:39 am

Post by 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
Posts: 5406
Joined: Wed Jul 28, 2010 3:28 am
Location: Wettest corner of Orygun

Post by 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
Posts: 6
Joined: Thu Jul 22, 2010 10:30 pm

Post by 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
Posts: 391
Joined: Thu Jul 22, 2010 6:58 pm

Post by Matthew »

Lead by example.


futuredoctor
Posts: 34
Joined: Tue Jul 27, 2010 4:03 am

Post by futuredoctor »

Ah, that's a good one, Matthew.


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