Early Retirement Extreme: A philosophical and practical guide to financial independence

This is why retirement savings goals are frequently in the millions. Those--and they're a majority--who have to pay for every convenience really need that much to replicate a median income lifestyle.

You can enjoy the fun of beating the system that exists to take your money and live a middle-class lifestyle on a quarter of the usual numbers.

It can also be used to start businesses, engage in a second career, care for family members, etc. without worrying about having to support oneself.

One's values must be known accurately to determine the right lifestyle, and they must be known precisely to make good

First, reduce waste and increase efficiency. It's possible to live with the same benefits as the rest of society for one quarter of what the average consumer spends. Many of these expenses are eliminated by only owning what is actually used, and maintaining what is bought.

Don't worry about whether you can eventually become an expert (see Gauging mastery). Rather, try to constantly improve on the subjects you already know and seek out useful things to learn.

Ignore most of the personal finance books out there. They only explain how to play the game by the rules. Instead, use the rules to play a different game.

Aside from being able to think, one should also know what to think about. If thinking is the tool, knowledge is the resource. It's only by combining these that productive solutions can be formed.

Which things should I own? Given these problems, things should: have the appropriate quality and a low lifetime cost. be durable. be easy to dispose of either by selling, giving away, or trashing in a responsible manner. be small and preferably lightweight. be easy to make. be serviceable locally and easy to maintain and repair, preferably by yours

It's important to understand that doing the right thing (good strategy) is much more important than doing things right (good tactics). This is why this book is short on tactics and long on strategies.