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Interview with Mr. Money Mustache

blog.ycombinator.com

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Re: Interview with Mr. Money Mustache

#141

Post by mywittyname »

dsacco wrote: post #4

Something I’m curious about regarding Mr. Money Mustache - is he actually retired, in the sense that he doesn’t do anything to bring in income (except through passive index investing)? It seems like he has a brand that is pretty lucrative, so it’s unclear to me if he: 1. has enough money to be functionally retired at his current lifestyle, but chooses to continue his brand anyway, 2. has enough money to be functional…

I read that his blog fetches half-a-million a year in revenue and he's barely monetized it. He brags about turning down offers from large institutions for various reasons. I'm sure these offers were quite lucrative.

I suspect the unrealized worth of his brand is in the $50-100mm range. He has a huge cult following (his words) among some of the highest earning members of society.

Re: Interview with Mr. Money Mustache

#142

Post by astura »

reverend_gonzo wrote: post #102
CodeCube wrote: post #79

Earlier quoted context omitted.

Personally, I find rent-seeking landlords to be an unethical pursuit. I know that's not a mainstream thought, and is the underpinning of many people's income strategy ... but I can't support the idea of letting a family live in a property for decades, and then something happening, and they're on the street with nothing to show for the tens of thousands of dollars they have given in rent.

The reason to rent is for the ability to move on demand. If a family is renting in the same place for decades, that is their problem. The moment you realize you are going to stay in one place for an extended period of time, there is no reason to continue renting. Sure, not everybody can purchase their dream home. But they can purchase something small, build equity, and upgrade in the future. The government also has p…

"You should own," no, everyone is different.

Many people have no interest or ability to take care of a property. I watched my grandparents' house deteriorate and literally fall apart from neglect. [I used to think the roof leaking when it rained was a totally normal thing] They had literally every appliance in the house break over the years but they didn't have the wherewithal to replace anything so they just went without. They lived in total squalor for years, it was depressing (as well as very dangerous) visiting. If code enforcement stopped by they'd be homeless.

For sure, there is many, many benefits to owning, I love being a homeowner (most of the time - though I did get a little sticker shocked at my first 4 figure repair bill), but don't believe for a second "everyone should own."

Re: Interview with Mr. Money Mustache

#144

Post by dceddia »

branchless wrote: post #70
astura wrote: post #44

Earlier quoted context omitted.

MMM is too smug and pushy for a good portion of the general public. His writing can awfully hostile, it could be toned down a bit and his message would get further - some of his advice is very sensible. The problem with frugal blogs (in general) is they do one or more of the following; push penny pinching 24/7, "if you aren't eating lentils everyday and living in a cardboard box you're fucking up," they are too conde…

He has several rentals and lives off other families. We can't all do that. It's not a real, scalable solution. It's not genuine.

He does have rentals. But he doesn't live off that money. He's done income reports (see this one from 2016[0]) that show where the money comes from and where it goes.

[0]: http://www.mrmoneymustache.com/2017/05/19/2016-spending/

Re: Interview with Mr. Money Mustache

#145

Post by vasilipupkin »

phaemon wrote: post #65
vasilipupkin wrote: post #48

Earlier quoted context omitted.

Beautiful. Since we get to make up our own definition of what retired means, I guess I am also retired. re·tired rəˈtī(ə)rd/Submit adjective 1. having left one's job and ceased to work.

Well rather than attempting sarcasm, why don't you tell us what you think retired means? Presumably you're banned from ever doing any task that might even possibly net you any money?

if you are doing tasks that net you money, you are working, you are not retired. Right?

definition of retired:

Dictionary

retired re·tired rəˈtī(ə)rd/Submit adjective 1. having left one's job and ceased to work. "a retired teacher" synonyms: former, ex-, past, in retirement, superannuated More 2. archaic (of a place) quiet and secluded; not seen or frequented by many people. "this retired corner of the world"

Re: Interview with Mr. Money Mustache

#147

Post by yessql »

sidlls wrote: post #97
CodeCube wrote: post #79

Earlier quoted context omitted.

Personally, I find rent-seeking landlords to be an unethical pursuit. I know that's not a mainstream thought, and is the underpinning of many people's income strategy ... but I can't support the idea of letting a family live in a property for decades, and then something happening, and they're on the street with nothing to show for the tens of thousands of dollars they have given in rent.

There are plenty of families who have no interest in buying even if they can afford it easily. One doesn't have to prey on the impoverished to have rental income.

It is interesting also to see financially independent people who are happy to rent, keeping their assets in more lucrative and flexible investments than the real estate they live in.

There are lots of reasons to rent. It is generally a mutually beneficial relationship, like pretty much every other business transaction.

Re: Interview with Mr. Money Mustache

#148

Post by [deleted] »

joeax wrote: post #19

I've been reading his blog for a few years, and he does some have some insightful advice on shedding unnecessary expenses and living on a frugal spending diet. I've been able to get down to one car that is almost paid off, and double my savings and investment portfolio. My favorite article from him is living close enough to work to bike (although working from home is most ideal). However, his blog comes with a bit of…

[deleted]

Re: Interview with Mr. Money Mustache

#149

Post by KGIII »

ghaff wrote: post #120
KGIII wrote: post #68

Earlier quoted context omitted.

There should probably be another word for it? I'm financially secure and will be for the rest of my life. But, I still generate an income, mostly by ownership but I still do physical labor. I do quite a bit of my own labor, as well. I can easily pay someone to do it for me, but I like it. I just helped harvest the blueberries. Next, I'll be filling my own freezers during hunting season and I'll be guiding others to h…

I don't know. "Financially independent" strikes me more along the lines of being able to walk out the door tomorrow and only doing a job because I want to. Not because I need the money. I think "retired" is OK. A lot (most?) retired people who are healthy do something whether it's just some DIY around the house or volunteering. Of course, these days there are opportunities to pick up some dollars through various gig…

Yeah, right after I sold, I tried the not being busy thing. It was less than ideal and it only took a few years before I was bored beyond belief. I did the volunteering thing but that was, for many reasons, less than ideal. So, now I keep myself occupied in unofficial capacities, both at home and in my small community.

I'm not sure how people do it. They retire and seem to do a whole lot of nothing. They may travel a little, maybe putter in the garden, but they mostly seem to watch television and hang out with other old people.

I retired fairly young. That may account for some of the difference. I try to have hobbies that keep me both physically and mentally occupied. Being unoccupied doesn't work well for me.

Re: Interview with Mr. Money Mustache

#150

Post by komali2 »

astura wrote: post #44
joeax wrote: post #19

I've been reading his blog for a few years, and he does some have some insightful advice on shedding unnecessary expenses and living on a frugal spending diet. I've been able to get down to one car that is almost paid off, and double my savings and investment portfolio. My favorite article from him is living close enough to work to bike (although working from home is most ideal). However, his blog comes with a bit of…

MMM is too smug and pushy for a good portion of the general public. His writing can awfully hostile, it could be toned down a bit and his message would get further - some of his advice is very sensible. The problem with frugal blogs (in general) is they do one or more of the following; push penny pinching 24/7, "if you aren't eating lentils everyday and living in a cardboard box you're fucking up," they are too conde…

> I have experience being both very high income and very low income.

See, I could do the same thing, but the blog would really boil down to a single post - "stop fucking around and just learn web dev." I really don't see a more accessible route to go low income to high income.

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