A carefully-crafted combination of smart financial choices, simple living, and increased self-sufficiency brought me financial independence at 30 and allowed me to retire from my profession at 33. Early Retirement Extreme shows how I did it and how anyone can formulate their own plan for financial independence. The book provides the principles and framework for a systems theoretical strategy for attaining that independence in 5-10 years. It teaches how a shift in focus from consuming to producing can help people out of the consumer trap, and offers a path to achieving the freedom necessary to pursue interests other than working for a living. The principles in Early Retirement Extreme show how to break the financial chains that hold people back from doing what they truly want to do. The framework and principles revealed in the book has been used by many people over the last few years to accomplish a variety of goals. It provides people a means to achieve almost any goal, whether it’s debt-free living, extended travel, a sabbatical, a career change, time off to raise a child, a traditional retirement, or simply a desire for a more resilient and self-sufficient lifestyle. The book was initially written for people in their 20s and 30s, but its ideas aren’t limited to early retirees. Middle-aged people in the grips of consumerism can use the principles to take back control of their lives. People closer to retirement age who don’t feel adequately prepared can use it to set themselves up for a comfortable retirement in a relatively short period of time. Anyone worried about their financial future can use the principles in Early Retirement Extreme to make their future more secure.
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Jim –
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 world of money. Instead of giving advice on how to amass a fortune that might allow you retire early in comfort or luxury, it challenges the whole notion about what exactly you need that money for? Coming to think of it, why are you working every hour God sends to spend the small amount of free time you actually get lying exhausted on the couch, surrounded by gadgets you have no notion of using and people that you have little energy to really interact with? Yes, of course you can retire early, but before you do it, think long and hard about what you will do with the time and how much money you will really need to enjoy that time in a way that you will find personally fulfilling.
I really enjoyed the section of the book entitled “The Lock In” that examines the almost insane cycle most people have got themselves into in Western society – working and working to buy largely meaningless stuff in exchange for losing the time that they could use to enjoy the stuff that they’ve bought! In this way, the book is more a philosophical examination of our society and values than a text book that will help you save and invest for a life of retirement luxury.
For those of us who actually largely enjoy our job and the world of work, there is still much to take away from the book. It helped me qualify some half-baked notions about retiring at 55 for example, and gave some tips on how to calculate what I’d need to do so, while also pushing me to think about what I wanted to do with the time once I’d reached that goal. As the title suggests, you can take an extreme view of retiring early – live rent free in a tent at the bottom of a friend’s garden, live on porridge and boiled water and write that book you keep fantasising about. You don’t need much money for that, and you’ll have all the free time in the world. Unfortunately, it will also feel like it.
The reality of life is that you do need a bit of money for the life of milk and honey. The fact that Mr Fisker seems quite keen to sell more copies of this book (as evidenced in his blog) recognises this. Maybe he is quite keen on having that Mercedes after all. Nevertheless, if you want a stimulating, amusing and different take on our world of finance and early retirement from the rat race, investing some of your hard earned time and money on this book is definitely worth it.
Client d’Amazon –
L’auteur, ancien astrophysicien, a pris sa retraite en 5 ans.
Pour cela il a minimisé son train de vie au strict minimum, et développé ses compétences dans divers domaines pour réduire ses coûts au maximum, voir même gagner de l’argent grâce aux compétences en question, et cela lui permet de vivre sans travailler et faire absolument tout ce qu’il a envie.
Il donne dans ce bouquin l’approche philosophique de son style de vie et en explique tous les tenants et aboutissants pour que l’on puisse faire pareil.
Robert –
Where does this book miss for me?
Overall, the author takes a systems theory approach to working out what is worthwhile in life, and has come to interesting conclusions that are plausible, and seems to work for him. This is a superior approach to the eclectic “life hacks” offered by some competing books. (My worst example was a book suggesting using cans of beans instead of dumbells to save money on exercise equipment!) However, the book had weaknesses, and overall, I probably prefer the author’s blog to this book.
He presents the results of his systemic thinking rather than the process he followed to come to his conclusions. He gives a lifestyle that works well for him, but probably would not suit many of his potential audience. Taken as examples of thinking outside the box, this is interesting (live in a caravan – or RV – anyone?) but less useful than guidance on how to explore these issues for yourself, with a view to reaching your own conclusions.
I got a strong sense that his philosophy of lean living was not universally scalable, as in a great part it depends on the remaining 99% of us to live wastefully so he can grase on our surplus. (The author is a physicist. This does have a reductionist approach to modelling the world as opposed to – e.g. – engineering, which embraces the world in all its complexity, and might lead to a more holistic philosophy if the same process was followed.
The author does not have any kids, so for those of us with families, his message is less convincing. (He hypothesises about this, but has not had to meet pester power in person.)
I personally did not find the authors writing style made for enjoyable reading. Another review has pointed at his use of calculus terminology to explain his concepts. Confusing for most readers, and probably unnecessary.
A minor quibble – there is a lot of discussion about health insurance, which is fortunately not an essential for UK readers. Some other points are more US centric (ROTH IRAs anyone?), but can be translated into UK pension funding.
I do not regret reading the book. Read the authors blog if you wish to know more before buying. Also read Mr Money Mustache blog for a less extreme way of life with similar ends. Mr Money Moustache has a child, so is perhaps closer to many readers experience.
Kindle-klant –
This book probably changed my life. Lets use the principles and get out of the rat race now. Its pretty easy with this one in hand.
Rakesh Vyas –
This is must who want to retire extreme and early. Bless you. Perfect book on personal finance it contains lot of information that needs reader ability to grasp and comprehend.
Stefanni Brasil –
A must need for everyone. It changed my way of thinking and living! Recommend for everyone, this is a great book.
SJB –
A well written book giving an alternative way of going about early retirement.
Some of the financial examples bring early retirement a lot closer.
I highly recommend reading this book.
Amazon Customer –
What a great book, the philosophical part is definitely more interesting than the practical guid how to retire early.
I can tell the author is highly influenced by Charlie Munger, he has a very wide knowlege and a great collection of mental models. Especially I am facinated by this thinking in system, and continuous education/learning.
Aslo, I found a lot more interesting book from the “Further Reading” section.
Amazon Customer –
Wish i had read this a long time ago. Lots of obvious things all in one place, more about the philosophical shift required than how to acquire the necessary money, and made ever so slightly out of date (yet even more relevant) by the current global financial situation. A good read and a real eye opener. A man who chops wood warms himself twice. Recommended
Elias Rivera Bandin –
Como advierte el autor desde el principio, este no es un libro de “consejitos” para ahorrar. Y en el libro ciertamente hay muy pocos ejemplos concretos que uno pueda copiar. Es un libro argumentativo de principio a fin, y su finalidad es que el lector cambie su forma de ver las finanzas personales y se decida a aplicar su creatividad para vivir bien gastando menos y, eventualmente, no tener que trabajar. No me parece que sea un libro para todos, pues el estilo del autor es complejo y requiere mucha atención. Pero, ciertamente, creo que logra su objetivo de hacer que el lector cambie su forma de ver su dimensión económica. Lo recomiendo para todo aquel que disfrute de libros que realmente invitan a pensar y a desafiar ideas preconcebidas.