I imagine this is frowned upon by potential employers, even in the volatile IT industry. Also available on Audible! Do those responses to what I wrote sound like they come from people who like their jobs? Many people could benefit from the principles espoused by Mr. Money Mustache. I’d rewrite point 4 to be, ‘for Mustachians one of the main focuses is not wasting money on things you don’t need or that don’t make you happier.” That’s very very different than a ‘scarcity mindset.’ Put more simply, a key element of Mustachianism is not embracing scarcity, or becoming a miser, but rejecting consumerism. But mountain biking in Sedona, Fruita, and Moab on my new fancy mountain bike is REALLY fun, but 100 times as expensive. Mr money mustache is explicitly anti-consumerist, and this makes people uncomfortable Actually, scratch that. Kevin, make that 2 docs who want their kid to go into medicine. I think there's a great deal of wisdom there. I still want to be financially independent, but when I’m like 50. It’s great that you love your boat. Everyone around you is wasting a ridiculously huge sum of money. , http://www.mrmoneymustache.com/2013/02/13/mr-money-mustache-vs-the-internet-retirement-police/. Let me quote from the thread there discussing this post: And as for ‘if you don’t like your job get a better one’, f*** the f*** off, you smugly self satisfied deluded…. Also love it because I love DIY and, honestly, my dream life involves being that person in Alaska building my own cabin…I do intend to reach financial independence as soon as possible so I can have my medical career on my terms: family time and the opportunity for international work that’s hard to get when almost maxing out a $400K salary. Thanks for stopping by and sharing your thoughts. I was…eh,hem, AM, burned out 2/3 my way through a surgical residency. Like this guy.  Apparently, he rides his bike to the grocery store and pulls his groceries home in something that may resemble a baby stroller behind his bike. I don’t see why I need to be. He advocates asking yourself if something is important enough in your life to be worth paying for (or rather, working so you can pay someone else to do them). MMM appears to be far, far happier than the majority of doctors I’ve known, but maybe that’s a front. Join Facebook to connect with Mr. Money Mustache and others you may know. You can also subscribe without commenting. Its like anything, take it all with a grain of salt. They build their own cabins, chop their own wood for fuel, hunt their own food, and in general live completely off the grid. I love my job and I love the way my life looks now that I’m out of residency. Sermo (online physicians forum) feels the same way sometimes. I appreciate the fact that he sets an extreme perspective, but it’s also very easy to compromise his philosophy to fit your own lifestyles and goals. Moving from the mental to the physical, Stoics actually enjoy experimenting with Voluntary Discomfort. He hacked his way to early retirement in his early 30s, chilled for a few years, then established a website focused on financial independence that receives millions of visitors per month. And you’re not getting the satisfaction that I mentioned above, that figuring out how to do something properly, and then doing it (which was probably my favorite part of med school and residency) is something one can experience again, simply by taking on a personal project by painting your own walls.  Of course, this doesn't mean that his earlier shorter pieces were short on quality, but his publishing schedule left very little in the way of anticipation for the reader simply because his posts came so often. In one month, I can earn more than I ever made in a year prior to my 30th birthday. The noted penny-pinching guru dubbed Mr. Money Mustache announced on New Year’s Eve that he and his wife have divorced, writing in a blog post that they only spent $265 on the entire process. He cuts through the BS and shows you how bad the “norm” has become when it comes to certain financial decisions. Her road bike is a $5-6k top-of-the-line racing bike. It’s not, especially if you’re truly Financially Independent. But some people simply find more happiness buying more expensive things and doing more expensive activities. In this episode, you’ll not only hear about… But Mr. Money Mustache taught me about the other side of the coin - the ability to retire early based on a freaking high level of savings, which opened up an entirely new world of possibilities for me that, quite frankly, are far easier to accomplish than those based purely on high income. I loved this article and I’d consider myself a Mustachian wanna-be, but I can’t commit to it 100% (I’m not biking in slush and getting up an hour earlier). Pete is way too social for that kind of existence. Your kids should learn to work hard. Mr Money Mustache’s Contribution. The book summarizes the most important information on the blog and contains material not found on the site at all. . One of the things I most appreciate about having money is using it to make my life easier, meaning not needing to plan out nearly as many details and while traveling, being able to just eat that food we found instead of looking for cheaper food. Welcome to Alaska. Great article. So I’m a fan of MMM. Besides the journal that she has kept since 3rd grade and assorted teen angst poetry, she has not written any books. I do my own yard work, I find it easy and fun. I think MMM has alot of things right, but with doctors some of it needs to be adapted. Not all specialties are set up to accommodate docs that simply decide to cut down to 2 days per week. Good job, though it’s odd that you then spent the majority of your post undermining MMM. Honestly, I love his blog. Multimillionaire Family Tracks Spending for a Year: They Spent How Much?!? Mr. Money Mustache is the alias of a forty-one-year-old Canadian expatriate named Peter Adeney, who made or, more to the point, saved enough money in his twenties, working as a … He's basically living on $25K a year and loving every minute of it. More amazingly, you state that the surgeon is wasting time when they’re not practicing medicine. But yeah, your completely on point that not every speciality has this option. Zero employers local to me were looking to hire part time surgeons. Right now, my boyfriend and I happily live off of about 70-80% of our combined income, which is in the low multiple hundred thousand dollar range. I like WCI because it’s just more specific to the many weird financial things that docs have to deal with and I have found that SUPER helpful. 50% is still pretty darn high. But some people simply find more happiness buying more expensive things and doing more expensive activities. If you have been around this whole early retirement business long enough online, chances are good that you have run across a web site called Mr. Money Mustache. There are very few people in the world who have this knowledge and expertise. At the same time I know several women who either didn’t do a residency or who didn’t work after residency because they decided they wanted to stay home with their kids. Why? Sounds like shaky ground to me…as I’ve seen many a young lady grow old at the expense of a non-commital man…and be out on the streets by themselves when your man wants kids and you can’t. He is also seemingly resourceful. This options appears to be more and more common. Well said! And frankly, friends who have recently gotten into bicycling clearly have as much enjoyment on their low-rent Jamis bikes as the prissy weight-wienies who feel the need to get new bikes every couple of years and who sit around laughing at MMM’s crummy ride. For example, I followed a link to the blog of a young retired attorney who followed a similar path to early retirement as Mr. Money Mustache. The other point of yours that I appreciated was that not spending money can make our lives harder. He would only have his savings cut in half or more. It means that other peoples’ money no longer dictates what you do with your time. The result is a retirement that is quite comfortable–way above MMM status. Posts about Mr. Money Mustache written by Ron Byrnes. That’s $48K. 31412 Posts 1371 Topics Last post by Fishindude in Re: Factoring College in... on Today at 12:06:30 PM Taxes. Those four points were the bulk of your post.  We both have blogs. I haven’t done that very often. Meet Mr. Money Mustache “I’m going to teach you a radical new way to think about and enjoy money that will get you off of your current debt-powered treadmill and into a lifestyle that is completely unimaginable to most people where I live, which happens to be in the United States, ground zero for self-imposed treadmills. I agree, not only do I keep buying stuff but when you think about it, the cost isn’t that much better. We’re the lucky few. Bot WCI and MMM have great ideas and both will get you there. Former doc here, who stopped practicing not because I didn’t love it, but because I found more interesting things to do. Invest your money in simple investments like index funds and investment real estate. I got into it because of my wife. And in 2025, when I’m slowing down, I’m sure it will be pretty different then, too. Probably not. uh, what I said is the exact opposite of ‘Internet Retirement Police’. Adeney lives in Longmont, Colorado, and contends that most middle-classindividuals can and should spend less money and own fewer physical possessions, and that they can live with increased financial freedom an… Lol yeah, most of the jobs out there aren’t ones that many people would actually WANT to do… if they didn’t need the money. There’s a definite sheep mentality there with evidence of people who lack insight and independent thought; as if the solution to every problem is to simply sell your car and move closer to work. We save a significant amount of money every year, but we have always done that. Mr. Money Mustache is on Facebook. While this job pays $11K more per year with better and cheaper health benefits, it might be the worst job I have ever had. If someone saves like crazy and retires with enough to get by at 30, he is vulnerable to a financial shock that could cut his savings in half or more. He (and his teachings) also remain surprisingly controversial. The best part was hearing about how to create a cult and seeing the stuff that transfers over to here. They saved 65% of it for seven years, then retired at 30 so they could raise a family. For most, they would acquire debt…and with stupid interest rates at that. Straighten out your financial life today! My kid graduated Stanford as Phi Beta Kappa in medical ethics and health policy, aced the new MCAT (526—98th percentile), and my wife is first-generation Mexican, so kid gets to apply as a minority. But here's the deal. And hockey is expensive? The implication is that his advice is for job haters, not doctors who like their work. Next, the hospital owns all the local primary care docs, so all the referrals go to their employed surgeons. Just enough to still keep up skills over the years while not even coming close to getting burned out. Refinance Medical School Loans & Consolidation Guide, Frugal Living with The Frugal Physician - Podcast #122, 10 Things That Matter Most In Personal Finance. Spending money on stuff that makes your life easier may be making you soft. Then what? give yourself a little raise. It’s a powerful message, and it upsets people who have committed to the conventional wisdom, and who are stuck in the mindset that they need to care what someone else will think of their bicycle. (We first met at a swanky dinner paid for by somebody else.) Mr. Money Mustache is currently the North American (and maybe Canadian too) reigning champion of face punching financial efficiency. Your are, however, based on having known many boat owners, an exception. One the other hand MMM reminds me that I can ride my bike more, cut back on some things and makes me think about how much happiness something will actually bring me. This exasperation came mainly from him having been retired a full six years, living happily with his children and wife, while his friends complained about how little money they had. Does that fact that many doctors hate their jobs mean that your blog is bogus? I’m planning to transition to a third career soon where I’ll work for myself. If they were minor points, then I think you need to adjust your writing style. level 2. Talk about censorship. What I like about WCI , especially more the past 6 months or so since he is loosening the purse strings, is that he is very much about moderation. In residency, unless you are moonlighting, you cannot earn extra money, so you might as well paint that house on your day to night shift conversion day! Yes it’s harder – but ultimately it makes you happier? I think this post is spot on…all the way to your observation that his blog is under-monetized–and MMM likely doesn’t give a hoot. Is that really the point of good personal finance? Maybe I should watch the video you sent me. My hockey playing friends are falling all over the ice at the thought of that. 1. Anonymous wrote:Mr money moustache is blocking people on his forum for criticizing his New Yorker article!!!! I had not yet started working at 30. They will never give as much to the world as if they saw their work as ways to refresh themselves and give back to the world. To be fair, I love how he writes, find many of his articles useful and am actually trying to read more about the stoic way of life… I agree that the commentators on his blog can be a bit extreme and somewhat mindless and a bit of “you are American so you must be stupid” (I can say this as an immigrant myself that things are not that rosy in other parts of the world and am incredibly fortunate to be truly living the American Dream). Seriously, I avoided road biking for years because my impression was that people like your snobby friends dominated the sport. As a surgeon you won’t need 7-10 years to pay your debts. The Frugal Physician: 5 Steps to Becoming Debt Free. There’s certainly a fine line to walk between the two. This is him turning down $4000 more per month for credit card referral links, so not quite the same. I couldn’t find one either. He has trained himself to find great joy in these simple things. He seems to be the kind of person who can do a plumbing job at his home or his rentals without outsourcing.  He does this to save gas. But they’re still stuck with the costs of storage, maintenance, depreciation, insurance, and on and on. Noone ever died of a crooked tooth. For her it’s just her ride, and she has no trouble dropping the bike dudes on their new and silly-expensive carbon fiber rides (which somehow all seem to weigh more than her bike, despite the insane expense). 268. share.  How about in your 40s. Even after paying 45% of that income in taxes, he's still way ahead. Pete did not. At any rate, if you're not familiar with his financial philosophy, you would do well to learn about it. The bike is an automatic life-balancing machine. But hey, even if you’re happy to work a few extra nights of call to afford the ownership of a toy like a boat, a jet ski or whatever, know that some of us enjoy going to any lake or ocean we wish, anywhere in the world, and just renting the equipment for the time we use them. https://www.youtube.com/watch?v=b3dYS7PcAG4. +1. Do fish ride mountain bikes or road bikes? Sure.  I believe he's even traveled to other countries because of the popularity garnered from the web site and he claims to be generating a 6-digit income off of what he was able to build online. If you had 10 million in the bank would you be working the night shift and dealing with drug-seekers? « on: December 30, 2013, 04:10:43 PM » 2014 is the year of no (or very little) unnecessary spending as I look to wipe out the final $12K in student loan debt and add some cash to my Vanguard targeted fund. Hoe meer je per maand kunt sparen, hoe eerder je met vervroegd pensioen kan. Dat klinkt makkelijk, maar dat betekent wel dat je sneller tevreden zijn met wat je hebt. It didn’t take long for Mr. Money Mustache’s writing style to captivate me, and I ended up devouring every single post on his site in a matter of a few months. Live on 60K a year and you should be out in 3-4. Pete (as long as he can hold on to his job) has the ability to keep working and maybe even buy low and ride a recovery up, a strategy that Mr. MMM has removed himself from. If I was getting burned out so much, I would just cut down how much I work. I was perusing the Mr. Money Mustache blog the other night on a slow night shift. In fact, rental boats are in general surprisingly difficult to find. Or helping someone out on the internet. For no purpose whatsoever except to see if he could do it. I doubt I would like not working for very long either, though I would like to take a month long trip once every year and a half, I think that would be ideal. I’ve never gotten on board with the idea of early retirement though. You can save lives, improve health, provide reassurance, earn a very stable, high salary, and enjoy the respect of much of society. Mini Money Mustaches. Even though Mr. Money Mustache’s blog was nearing 500 articles by the time I first landed on the site, I started at the very beginning. Yes, you read that right. Basically he lives on $7000/year somewhere in the Bay Area. Although I doubt that the US healthcare market is going to change enough to drastically lower my income compared to today’s expectations, I want the peace of mind that a nice stash can give. I make more than most surgeons that can kill someone and my assistants do most of the manual labor.  Through serious investments and a solid savings plan, the math proves how possible it is to quit the damn rat race sooner rather than later. I do agree with you that the solution to not liking your job is to find a new one. Then buy the house. Even though I like Mr. Money Mustache, I don’t like most of the readers who comment on his blog. His stoic nature would allow him to emerge like gold if there was a bout of serious financial adversity. Gotta pay to play that one. 8 hours work, 8 hours fun and 8 hours sleep, what could be more moderate than that! The problem that Mr. MMM has that Pete does not is that if there is a bout of serious financial adversity, Pete has the ability to recover and press on, maybe working for longer than he otherwise might want, in order to insure his long-term financial health. The question is this: If you like your job, it provides real service to society, you make tons of money, you have enough money already that you are “MMM-FI,” what should you do with your time and money? Can I afford it? For example, he takes his bike and bike trailer out in a blizzard to pick up 85 lbs of groceries just to say he did it rather than driving his car 1.5 miles (or just waiting until the blizzard is over. Nature Itself told the Stoics what conditions they should learn to appreciate as humans – since they realized we are all in fact an integral part of Nature. I’d say I wouldn’t do my job for free, but if I stopped working for pay I’d still volunteer in our local free psychiatry clinic, so I guess I would. But I do my own financial planning and investing. Many people confuse between the two. What do you think? You now know one doc who would be honored if his kids wanted to go into medicine. You did such a great job in pointing out the good parts of the MMM blog and the parts that don’t really apply to physicians and other late professional starters. Yes, taking the car will burn more gas, ruin the planet, and cost you more money. Got a question, strategy, or something to share regarding taxes? My friends with boats are pretty much stuck going only to the nearest body of water, and not one of them has ever used their boat or jet ski as much as they thought they would. Website revenue is highly correlated with traffic. Re: Reasons Why Mr. Money Mustache Got A Divorce « Reply #1 on: December 04, 2018, 07:40:03 PM » I have no idea and I don't want to judge another man's life, but I do agree that when you sell a lifestyle based on your own like it's relevant to readers if you get a divorce. Medicine is just not what I had hoped it was going to be. But Mr. Money Mustache taught me about the other side of the coin - the ability to retire early based on a freaking high level of savings, which opened up an entirely new world of possibilities for me that, quite frankly, are far easier to accomplish than those based purely on high income. After a few weeks, I realized that if you do not have meaningful work, even leisure starts to feel like work. I don’t clean my own house though. Such as getting a job that doesn't suck. 1) Sounds retirement policey. Like with Dave Ramsey, there is a plethora of useful principles to learn from him, even if you don't agree with everything. Oh, Mr. Money Mustache is pissed off today. The Frugal Physician: Self-Serving or Self-Denying? Is it best to stuff as much money into investments as you can so you can be truly FI ASAP, or is it okay to spend some money on stuff that makes you happy? If your work sucks, the solution isn't necessarily to save some crazy percentage of your income so you can quit working ASAP. Some call him extreme, but I don't find him all that extreme, to be honest. He has a remarkable ability to make early retirement very accessible to the average person, and published a powerful article that details the simple math behind early retirement. All grain you are down to probably $20 and you aren’t counting equipment. Even change quickly, so all the local primary care docs, so I ’ m looking to... Steps to Becoming debt free is n't necessarily to save some crazy percentage of your portfolio do agree. Looks now that I ’ ve now used mine 16 days so far this year ”! I could have just as much fun knitting as I do my own transmissions, for the vast of... Sure, his perspective is extreme and nearly impossible for the vast majority of your tax. Money moustache is blocking people on his forum for criticizing his new Yorker!. 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Sucks, the advertisements on your page can boarder on obnoxious and distracting a 38-year-old retiree.

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