I wish they asked about health care costs. For a family of three with no corporate job in sight, those have got to eat up a large chunk of the $25k.
Meet Mr. Money Mustache, the man who retired at 30
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Re: Meet Mr. Money Mustache, the man who retired at 30
#12Does not having a corporate or regular 9-5 job mean retiring?
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Re: Meet Mr. Money Mustache, the man who retired at 30
#13Does not having a corporate or regular 9-5 job mean retiring?
I think I'd like to get to the point of being able to retire, but not necessarily to stop working (though being able to be more flexible would be nice).
For me, I think my satisfaction with life jumps dramatically the more I feel like I have control (shocking, I know).
I got laid off a few years ago an had two months severance. I floated on it, but I think I did more coding and reading, and generally had more productive time than when I was at work.
I'm by no means in the MMM league, but I've had jobs where I couldn't quit if I wanted to, and I hate that. The psychological freedom that comes from knowing I could up and quit if I needed to, even on principle, is so much more satisfying to me than what I could buy with the money I save.
I can imagine knowing I could up and quit... forever.. would be pretty awesome.
Re: Meet Mr. Money Mustache, the man who retired at 30
#14Why does MMM have ads on his blog?
"More recently, even my hobby of writing the blog has started producing some cash, which I hope to reinvest and snowball into a big charitable operation as well as funding interesting projects related to the blog."
Re: Meet Mr. Money Mustache, the man who retired at 30
#15Interesting article, and it would do well for most people to consider increasing wealth through investments.
From the article: Our bread-and-butter living expenses are paid for by a single rental house we own, which generates about $25,000 per year after expenses.
One nit, perhaps, on that - is the rental house completely managed by someone else? If not, I assume there is at least some minimal amount of work associated with being a landlord... so I would hesitate to call him fully retired, such that he does not need to do any work for money.
The other thing I always think when I read articles such as this - if everyone took such advice and eschewed purchases (cars, lattes, drive-throughs, etc..), I would imagine unemployment would increase dramatically. However, it is safe to give such advice, because it is enough of a sacrifice / delayed satisfaction that it is unlikely to get enough people following the advice to negatively impact the economy. But someone needs to buy the stuff that is made, for the makers to have jobs!
Re: Meet Mr. Money Mustache, the man who retired at 30
#16I wish they asked about health care costs. For a family of three with no corporate job in sight, those have got to eat up a large chunk of the $25k.
25k/3 people is like a welfare amount of money to live on.
Re: Meet Mr. Money Mustache, the man who retired at 30
#17Re: Meet Mr. Money Mustache, the man who retired at 30
#18Interesting article, and it would do well for most people to consider increasing wealth through investments. From the article: Our bread-and-butter living expenses are paid for by a single rental house we own, which generates about $25,000 per year after expenses. One nit, perhaps, on that - is the rental house completely managed by someone else? If not, I assume there is at least some minimal amount of work associat…
Lets be fair, I'm 28 y/o, and fairly rich, I love to work, and I live to work, and maybe it's the only thing I may do ever in my life.
I could sell all of my bussiness, I could lease the buildings, and retire. But doing nothing is the hardest work I've ever do. I took a sabatic year after I graduated from college, traveled around the world, fucked some really beautiful girls, and after livining a dream-life, my life became quite frustrating.
This guy wont last too long retired, because, after all, he will just grow tired of playing golf, and doing nothing.
Re: Meet Mr. Money Mustache, the man who retired at 30
#19I wish they asked about health care costs. For a family of three with no corporate job in sight, those have got to eat up a large chunk of the $25k.
He does have a blog. http://www.mrmoneymustache.com/2012/11/01/our-new-237-per-mo... http://www.mrmoneymustache.com/2011/09/21/i-can-never-retire...
Obviously everyone's health situation differs, but my health insurance experiences have been similar to MMM's. For an 'average' person/family, health insurance shouldn't be breaking the bank (e.g. $200-300 per month).
I've heard of some realistic pre-existing health conditions that required $600+/month for specialty meds, but if that $7000+ per year is enough to make the difference in your 'retirement', it wouldn't be too bad to get a part time job to cover your cost.
Re: Meet Mr. Money Mustache, the man who retired at 30
#20Interesting article, and it would do well for most people to consider increasing wealth through investments. From the article: Our bread-and-butter living expenses are paid for by a single rental house we own, which generates about $25,000 per year after expenses. One nit, perhaps, on that - is the rental house completely managed by someone else? If not, I assume there is at least some minimal amount of work associat…
Lets be fair, I'm 28 y/o, and fairly rich, I love to work, and I live to work, and maybe it's the only thing I may do ever in my life. I could sell all of my bussiness, I could lease the buildings, and retire. But doing nothing is the hardest work I've ever do. I took a sabatic year after I graduated from college, traveled around the world, fucked some really beautiful girls, and after livining a dream-life, my life…
1. He said that he doesn't consider retirement to mean no longer working, he considers retirement to be a lack of reliance on work to live. He has the option to never work again.
2. He (MMM) is 39 now, he's been retired for almost a decade. The article addresses "doing nothing", he does lots of things.