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pig slut lisa posted:that thread is a performance piece oh good, that makes much more sense.
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Apr 24, 2015 01:24
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I travel fairly regularly; 100-150 nights a year business & pleasure. A nicer a hotel room is nice but hardly ever worth the money. But if you work up a loyalty scheme from work paid stays to the point you get upgrades its always nice especially when you holiday in the same chain you use for work. The upgrades and perks are a nice feeling but never worth the money you spend on them unless its not your money then they are awesome.
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Apr 24, 2015 07:41
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MMM really is just sockpuppets and blatant product placement at this point.
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May 7, 2015 18:45
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Inverse Icarus posted:MMM really is just sockpuppets and blatant product placement at this point. I started reading MMM just a couple of months ago (started at the first blog) and am now mid-way through the 2012 posts. I've been wondering what kind of articles I could expect from 2014-2015 haha
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May 7, 2015 20:46
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The problem with having a blog instead of a book is you run out of things to say but don't have a back cover to tell you it's Time to Stop. Dude just doesn't have anything left to say.
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May 7, 2015 20:46
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His latest post looks to be straight up shilling for a refinancing company. He admits as much, but it's pretty clear he's running low on ideas.
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May 7, 2015 21:12
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He should probably just compile the first couple years into a book, publish it online, and call it a day.
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May 7, 2015 22:04
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Dude literally makes more doing his blog than he did working.
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May 8, 2015 03:06
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TLG James posted:Dude literally makes more doing his blog than he did working. He said in one recent post he was offered 7 figures for the blog. Any idea how much he makes per year on the blog? Probably mid 6-figures eh.
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May 8, 2015 11:29
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Rick Rickshaw posted:He said in one recent post he was offered 7 figures for the blog. Any idea how much he makes per year on the blog? Probably mid 6-figures eh. It will be very interesting to see if he has this moment where he wakes up and says "I could literally spend $250k/year post-tax every year for the rest of my life" and proceeds to do so. Everyone loves a good falling from grace story.
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May 8, 2015 13:15
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I've enjoyed some of his case studies in the past, at this point I think more of those are about the only thing that I would find worth reading that he could do. Sadly he doesn't really do them anymore. It'd be fun to see one from someone who made minimum wage, someone who's 100k underwater on a home and needs to move, etc. He could even just make them up and work through the situation. The case studies he's done have been good reads but they've kind of been from people in good situations who can follow his standard advice pretty easily. I'd like to see him challenged a bit. "Just move closer to work and bike!" doesn't work if you're super underwater on a home to the point you literally cannot sell, and maxing your IRA is tough when you're flipping burgers, so it'd be interesting how he'd approach it. Nail Rat fucked around with this message at 14:14 on May 8, 2015 |
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May 8, 2015 14:12
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His audience is typically self-satisfied medium-to-high earners. If you think our bad with money thread is self-fellating, just check out their entire subforum dedicated to it. That said, I think there's a treasure trove of good content to explore if he aimed at lower earners who would have a harder time reaching financial independence. I think he hasn't done that precisely for the reasons you describe; there are some situations where there are no easy answers other than "develop skills that will get you more money."
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May 8, 2015 14:20
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baquerd posted:It will be very interesting to see if he has this moment where he wakes up and says "I could literally spend $250k/year post-tax every year for the rest of my life" and proceeds to do so. Everyone loves a good falling from grace story. I honestly think he's too stubborn. A quote from a recent article sheds some light on this: MMM posted:I’ve learned that more stuff does not bring more happiness – as you add belongings, your stuff just starts to own you. Even upgrading to higher quality versions of existing stuff doesn’t help. I could swap my 10-year-old Scion xA for a new Tesla P85D with just the spare change in my wallet at this point, but this upgrade would probably make me slightly less happy, because I’d have to watch the beautiful machine fading in the hot sun and being shat upon by birds, while I felt guilt over not driving it enough to justify the price. If I had as much money as he does, I'm not sure I could resist buying a Tesla. Especially since I could afford to charge it using solar, and therefore zero-emission driving, which when you consider adding to congestion and risk of accident I guess it's still not zero-emission...still though. He is just one principled motherfucker. Rick Rickshaw fucked around with this message at 14:23 on May 8, 2015 |
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May 8, 2015 14:20
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I have a feeling most people would look at a lot of us that way as well. Like, you have 30k in your bank account, why are you watching a 40 inch tv!!??!? Well, a 40 inch tv is actually pretty awesome and a bigger one is not like 6x more enjoyable, so...?
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May 8, 2015 14:25
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Not a Children posted:there are some situations where there are no easy answers other than "develop skills that will get you more money." Or in the mortgage situation, tough it out or rent it out. But it'd be interesting to see how he would put together a McDonalds worker budget, and if he'd find a way to get IRA contributions in there.
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May 8, 2015 14:29
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Nail Rat posted:Or in the mortgage situation, tough it out or rent it out. But it'd be interesting to see how he would put together a McDonalds worker budget, and if he'd find a way to get IRA contributions in there. Doubtful. Considering he once had a blogpost that said something like... Be a dog walker, make 50k a year.
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May 8, 2015 17:17
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Nail Rat posted:But it'd be interesting to see how he would put together a McDonalds worker budget, and if he'd find a way to get IRA contributions in there. The real reason hes not doing this is because in most of the country its impossible to accomplish what he did on minimum wage. Regardless of what his recent rear end in a top hat bootstraps post claimed. Hes not putting it together because he plain simply can't.
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May 8, 2015 17:29
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I'm like... 99% sure MMM has specifically said that his blog just isn't applicable to low income households.
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May 8, 2015 17:41
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GoGoGadgetChris posted:I'm like... 99% sure MMM has specifically said that his blog just isn't applicable to low income households. I share the same recollection, although I've had trouble finding it again. I think it's come up in comments rather than articles. e: Although I guarantee he would still say that biking is the best financial decision a low income household could make as well. And he'd be right. That one seems pretty universal.
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May 8, 2015 17:45
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pig slut lisa posted:I share the same recollection, although I've had trouble finding it again. I think it's come up in comments rather than articles. I think it was something like, "you need a relatively high income to retire early, but the spending reductions work well for everybody." Really, his original schtick was pointing out that "middle class" Americans are, in fact, quite wealth and just too privileged to see it.
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May 8, 2015 18:05
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He's done a few case studies on lower income people: here, here, and here. Some of the recommendations are  but he does at least make the attempt.Folly posted:I think it was something like, "you need a relatively high income to retire early, but the spending reductions work well for everybody." Really, his original schtick was pointing out that "middle class" Americans are, in fact, quite wealth and just too privileged to see it. I don't really read his newer posts anymore unless it's a really compelling topic. Doesn't bother me if he wants to review financially-related products, not going to hate on him for that. He's said his piece in a million different ways by now.
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May 8, 2015 18:20
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If you listen to some of the podcasts he's been on, you get a more reasonable picture of the man who calls himself Mr. Money Mustache. The list of podcasts he's been on is at the bottom of this page: http://www.mrmoneymustache.com/road-trips I find this is where you'll hear him say things like "At some point, you really do just need to start working on making more money to become financially independent". That being said, he will say that it's possible to live off of $7000 per year in the US. This pretty much assumes free accommodations.
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May 8, 2015 18:22
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Rick Rickshaw posted:That being said, he will say that it's possible to live off of $7000 per year in the US. This pretty much assumes free accommodations.
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May 8, 2015 18:26
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Also his family of 3 has been living on $25k for the past 2 years with "completely reckless spending".
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May 8, 2015 18:40
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With his worldview described as one with regular reflection, mindfulness and constant gratitude, I think he's being honest when he describes his spending as "ridiculous". From his perspective he hasn't made a sacrifice in years. Most Americans would consider biking your groceries through a snowbound park some kind of egregious hardship, but he has a very different view that shuts that kind of thinking down immediately. This is also a view that most people could benefit from as long as it doesn't distract them from issues of justice and empowerment. Though at the same time, in an anarchic sense, that perspective may be the only way to live and think justly.
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May 8, 2015 18:58
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tuyop posted:With his worldview described as one with regular reflection, mindfulness and constant gratitude, I think he's being honest when he describes his spending as "ridiculous". Look at this Canadian version of Thomas Jefferson! There is a definite skill to swimming against the cultural current. He's using a psychological technique of managing his expectations to keep himself grounded. In all honesty, it's probably one of the better ways to do it, and it sounds far better than constantly withholding from yourself. Money itself doesn't really seem to be his main focus, freedom is. It's probably the best way to pursue happiness in the modern world. Edit: The problem is that money is what draws in his readers. And there's only so many ways he can re-state his premise. Literally, his goal is to get to the point where he doesn't have to worry about money and yet he's still trying to talk about it every week.
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May 8, 2015 19:12
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Rick Rickshaw posted:If you listen to some of the podcasts he's been on, you get a more reasonable picture of the man who calls himself Mr. Money Mustache. I think a couple could live off 14k/year in the city I live in in NC. An individual on 7k/year would be harder, because it would be harder to find the right rent situation, but you could make it work. Basically you'd need to be walking or biking distance from a grocery store and your job, but that is totally possible and I know people who do it. And you'd need to assume that the 7k/year is after paycheck deductions including health insurance: 14k/year = $1166/month: Rent & Utils: $500-700 - This could be a studio apartment that the couple shares, or a room they share rented from a homeowner who lives in the home. Know several people who have done this for this price range. - I'm assuming utils are included in the price of the room, or that the couple is very careful with energy conservation. Studio would probably be at the higher end of this range than a room in someone's house for this reason. Groceries: $200 - My husband and I spend $300/month on mostly-organic groceries and that includes bullshit like hemp hearts and raw cacao. Cell phones: $60 - Assuming the Republic Wireless route here, plus some saving to replace them occasionally. Household Items: $100 - Like TP and towels and such. - This is generous. Let's say it includes the occasional bike repair item. More than I currently average in my household items budget. Clothes: $20 - Plenty for more clothes and shoes than you need at the thrift shops. Total: $880 - $1080, leaving some extra every month for stuff like dentist visits, booze, etc. Now to make this work you'd need some start up expenses, like buying bikes, so this is really not a plan for someone who makes $7k/year, but rather someone who wants to only spend $7k/year of their take-home. Health insurance is the real killer that makes this unsustainable in the long term - you might be able to live on 7k/person while you're saving up, but you should plan to have more income than that in retirement.
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May 8, 2015 19:18
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baquerd posted:It will be very interesting to see if he has this moment where he wakes up and says "I could literally spend $250k/year post-tax every year for the rest of my life" and proceeds to do so. Everyone loves a good falling from grace story. He's too set in his ways. More likely the fall form grace will come from his son. Is it likely he will fall to the temptations and attractions of materialism, or grow resentful at not indulging in them when the means to do so is right there?
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May 8, 2015 19:54
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Crazy Mike posted:He's too set in his ways. More likely the fall form grace will come from his son. Is it likely he will fall to the temptations and attractions of materialism, or grow resentful at not indulging in them when the means to do so is right there? Well, that's really speculative. I'm sure it's easy to find cases that go both ways. Wealthy Buddhist parents have child who continues their ways, and the opposite. Taking his child out of school probably did a lot to help prevent the latter.
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May 8, 2015 19:58
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I'm pretty sure he's mentioned he plans on not giving his son much money, or not paying for his college or something along those lines. If he does grow up and decide to reject MMM's philosophy, I don't think it would be particularly noteworthy. People gotta find their own way no matter what their parents do or think.
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May 8, 2015 20:03
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Saint Fu posted:I'm pretty sure he's mentioned he plans on not giving his son much money, or not paying for his college or something along those lines. If he does grow up and decide to reject MMM's philosophy, I don't think it would be particularly noteworthy. People gotta find their own way no matter what their parents do or think. MMM himself admits he had a much more materialistic life planned for himself in his early 20s. But his miserly ways got the better of him. His son could easily go hog-wild in his 20s before realizing the error of his ways and becoming true to his parents' values.
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May 8, 2015 20:09
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Rick Rickshaw posted:MMM himself admits he had a much more materialistic life planned for himself in his early 20s. But his miserly ways got the better of him. His son could easily go hog-wild in his 20s before realizing the error of his ways and becoming true to his parents' values. Yes! I call dibs on the Lifetime movie residuals! 0-18 Grow up frugally under MMM's tutelage 18-20 Working two jobs paying for college 21 MMM and wife die unexpectedly, leaving everything to me. 21-30 Hookers and blow 31-35 Prison 36-40 Learning construction and plumbing skills 41-50 Own construction company, get married, have one kid 50 FIRE, start blog
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May 8, 2015 20:34
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T. J. Eckleburg posted:I think a couple could live off 14k/year in the city I live in in NC. An individual on 7k/year would be harder, because it would be harder to find the right rent situation, but you could make it work.
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May 8, 2015 20:54
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Cicero posted:Being in a couple or part of a family isn't what makes frugality easier. Being willing to share resources is what makes frugality easier. Of course, that often goes with being in a family, but there are situations where you have families that don't share that much (e.g. affluent families with enormous homes where effectively every person has an apartment/small home-sized space) and situations where people who are technically single share resources (having roommates being the obvious example, but a more extreme version would be intentional communities). Sure, you're not wrong. I just meant it would be easier to share a studio apartment with an significant other than with a roommate.
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May 8, 2015 21:12
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Yeah I wasn't really disagreeing with you.
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May 8, 2015 21:29
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Anybody coping with burnout yet? I'm just shy of halfway to FI. But sometimes I just want to stop saving and buy some goddamn cars and houses and electronics and a walk-in gun safe and get a solid gold YOLO necklace, gently caress.
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May 10, 2015 18:14
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GoGoGadgetChris posted:Anybody coping with burnout yet? I'm just shy of halfway to FI. But sometimes I just want to stop saving and buy some goddamn cars and houses and electronics and a walk-in gun safe and get a solid gold YOLO necklace, gently caress. Probably a couple of things you can do to keep the right mindset. I look at money in $10k lump sums and what revenue that money generates money. This works for me as I have some income that is monthly so it helps for a side by side comparison. If you feel like you need to do some consumerism maybe budget an amount to spend. I don't go for extreme frugality as it's harder to stay disciplined, but I have also wasted years on consumerism so I don't feel the urge to spend the same. Separate from the above items I did buy a house last year which is a part of my long term plan to remove rent from the calculations. FI isn't a critical target unless you genuinely plan on immediately stop working.
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May 10, 2015 21:29
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GoGoGadgetChris posted:Anybody coping with burnout yet? I'm just shy of halfway to FI. But sometimes I just want to stop saving and buy some goddamn cars and houses and electronics and a walk-in gun safe and get a solid gold YOLO necklace, gently caress.
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May 10, 2015 21:44
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Not exactly that, but I have a related problem. I've lost a lot of interest in increasing my income. My employer just started a work-from-home program. Once I started working from home most days, I totally lost interest in taking a certification exam which would probably double my income. It's a difference between about 6 more working years and 9 more working years, but I wouldn't be able to work from home anymore. It would take about 90 minutes a day for about 6 weeks. And I'm just shrugging and going "yep, I should get around to doing that."
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May 10, 2015 22:45
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I'm pretty sure the point of money is freedom.  We're looking at spending like 15k traveling around SE Asia for a few moths in September, including rent on a place in which we won't be living (looking for subletters and roommates now). This is possibly the least FI thing I can imagine, but we can only do it because we've spent a couple of years not buying a bunch of bullshit. I mean, we're FI enough to take a four month break from careers and poo poo, that's sort of FI, right? Right?
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May 10, 2015 22:54
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