What a lovely article! This dog loving, tourist trap traveler that aims to retire early appreciate the balance approach! I absolutely admire MMM and gave me the kick in the butt to enter into FIRE planning but it was definitely adapted to enjoying the now as well which for my family means spending more money and working til around The key is finding your priorities and comfort zone!
Great article, Chris. His battle tested data and humble, helpful approach is tough to beat. Awesome post Chris! Hell, politics anywhere on the internet in this day and age is just a bad idea. But so many of the tenants of personal finance are only one degree away from politics, and I see a lot of personal finance bloggers drifting into that area.
They have every right to do so, but it just creates an opportunity for the intolerance and toxicity to breed. Agree completely. You can not ignore these issues as they are central to our planning. However, it does no good to whine and complain about things like taxes, health care, and interest rates that you can control. Instead, of complaining about our cards, we will continue to explore ways to play the hands we were dealt while following the rules of the game. Two quick thoughts: 1- outstanding article. I hope your click bait gets tons of new traffic. Readers interested in the FIRE community need to see a myriad of perspectives.
As your article articulated- so many lemmings are mindlessly following the masses, never taking time to question whether or not spending is making them happier.
How To Retire Early with Mr. Money Mustache
What a fascinating group of POVs. Or, if they are, that responding brings you fulfillment. Else, comments might be removed again. Thanks for the positive feedback. Thanks for the concern. I believe the timestamps are on Mountain Time. Life is good. Comments are back. The idea of a financial plan is not a lot different from an eating plan, often referred to as a diet. With retirement it is pretty much the same. Whose plan did you follow? People are looking for the diet or the blog or the book that will allow them to retire, when what they really need to do is gather as much information as they can then figure out what works best for them.
My wife and I are retiring this year at When people ask us how, we tell them that we have spent the last 40 years doing all the things that others our age have been finding excuses for. And as you state, knowing how much we spend is essential. Agree and disagree Tom. Hopefully with the proliferation of viewpoints now available on the internet, people will be able to find one or several that resonate with them. However, I then had to take the lessons and viewpoints that they share and incorporate it with more moderate and nuanced ideas and then pick and choose from among them to find what worked for me personally.
Unfortunately, there are also a lot of people who are trying, but they are working with bad information and a poor framework that limits progress. Nice post…. Different approaches work for different people and cult like you must do it this way does not really help. Thanks Chris for a thoughtful article. We even have a class B RV like Darrow! In a multitude of counselors there is wisdom.
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We can gain insight from people without having to agree with everything they say or even the way they choose to express it. Take what you can use and leave the rest. Looking forward to hearing more from you too! MMM has some good ideas so why do I have to accept them all? I can simply pick and choose which ideas work for me. I love the open dialogue presented by this site as well as MMM and so many others.
PS — love my dog. Agree with your article completely! MMM or any other guru, I read them up not because I will follow everything they do, but after reading, if I can take away even one positive impact on my financial life, it is worth my time! I could have had a net worth twice as I have now, but learning personal finance took its toll and half my net worth is all in cash. Learning is a lifelong process of continued gradual improvements. Keep reading, learning and most important acting on your new knowledge.
Best of luck. Nice work Chris. It just feels like a different place around here when you can engage. I think you did a nice analysis in this article. Money Mustache, or any other strong personality, people get defensive and antagonistic QUICKLY instead of learning the lesson behind the initial punch line. And apparently a lot of people resonate with that! Thanks for the feedback. I agree that we need to step outside of our personal comfort zones more often and be willing to challenge our limiting beliefs.
Tim Ferriss often repeats a saying along the lines of: Those of us that are offended easily, probably need to be offended more often. There is definitely something to being willing to make yourself uncomfortable that allows you to be exposed to new and different viewpoints that can help you learn and grow. I look forward to your future contributions. I cannot claim to be someone who retired early; my wife and I just entered retirement 6 months ago at It also has the appearance of being available only to a certain chosen few; namely, those whose salaries and life circumstances allow them to save to the level necessary while still maintaining a functioning middle-class lifestyle, and who can grasp the principles of investing.
Your opening graphic is quite telling in this regard, as it pictures people who are well-dressed, mostly young, and present the image of someone doing quite well in this economy and in our society in general. Thanks for your consideration, and my apologies for taking a slightly critical approach. Thank you for reading and taking the time to comment. I can see where you get that perception if you read the most popular first generation FIRE blogs, which are typically written by white males, with engineering, computer, or finance backgrounds, kids, and an index fund investing philosophy.
However, this community is much larger and more diverse than that, if you look around. First off, just read the wide variety of people that weighed in above you in these comments. From a blogger perspective, as the first generation of FIRE bloggers message has spread, they spawned a second generation who want to share their more diverse stories. For an example, look at the comment that precedes yours from my friend Chad Carson. He and I share very similar life stories, but our paths to FI could not be more different.
There are many other examples. The blog Root of Good is written by a former engineer, but he has a family with I believe 3 or maybe 4 kids. The blog Mad Money Monster is written by a woman who got started on the path to FI as a single mom and shares her many personal and financial mistakes. Everyone has their own story, and one of my goals is to share them in an effort to make people see that the path to FI is way more achievable than most people realize.
I agree in that you need to set you own personal agenda in regards to savings, spending and what that will look like once you achieve F. Im 61, planning to retire this year and my wife just retired at we hit FI last year. It is great that the comments are open here and that there is receptivity to a variety of perspectives. Do we want every year old working on their hobbies to earn a few bucks? I know it wont happen but there also does need to be perhaps more education and savings automation.
There is more to the story than FIRE vs the traditional advice community. There is more to securing your retirement than investments and index funds. I am not one but I am a client of a good one. I made this point to Darrow earlier and he agreed. Point 1. Hopefully people will realize the need to educate themselves and then change behaviors. This is where I think blogs like this provide a very important service. Point 2. Agree that there is more to the story and that is what we want to share.
One of the themes that I would like to expand upon is the idea of redefining retirement. I do believe that having an army of people who are FI, but not looking to retire in a traditional sense would be a great thing for our individual communities and our country as a whole.
Imagine the good that can be done by people working on things they are passionate about rather than being chained to jobs they have to go to because they need the money or health insurance benefits. Point 3.
Point 4. I agree, but do believe that good financial planners are a minority. The traditional models have major flaws. Being paid by commissions on products sold opens the door to a lot of bad advice for those that most need it. This is a topic I am very passionate about and am sure I will write more about in the future. Can I Retire Yet? In just minutes, this free , fun app gives you an integrated picture of your spending, saving, investing, and path to retirement! New Reader? Get free regular updates from Can I Retire Yet? New articles weekly. Join more than 17, subscribers. Unsubscribe at any time:.
Filed Under: Retiring. Comments Mr. Freaky Frugal says. January 8, at am. Very, very nice analysis! I look forward to your future posts. Chris Mamula says. Janice says.
Keep up the good posts! I will keep referring people to this site! Emma Gray says. Beatriz says. Larry says. See response to Beatriz above. January 9, at am. January 9, at pm. January 12, at am. Agree and disagree getagrip. Gary Saelens says. January 12, at pm. John G says.
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Molly Sturdevant says. Agree Steve. Keep learning from many and thinking for yourself! Hab says. Yorkshire Traveler says. Steve says. January 8, at pm.
John D says. SD70 says.
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Chris, great article. Agree with this comment a million times. Scott says. Hi, You would do well to understand how the federal govt calculates the savings rate. Can you link to an article or web page explaining the methodology? January 10, at pm. Scott, I would have to look into the methodology of where that data comes. Steve, Agree and disagree. Russell Leonard says. Frank says. You can be in our cult.
Judy B says. Mark Gutfreund says. Judy B, Kind of touched on this sentiment in the comment above. Thanks for reading and taking the time to comment! Sheila says. Jon says. January 10, at am. Kevin Knox says. Vin says. January 13, at am. Another Scott Burns fan…I never saved as much as I should have but read his columns. Mark A Zoril says. Oldster says. Olster, I agree that there are a lot of deeply held beliefs around the word retirement, and I would like to change the conversation around that. Thanks for the kind words and thanks for following me over.
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