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He would be the first one to say those people need to earn more. And if you bothered to read his blog, you would know that. Oh, but that's right, you're only interested in criticizing rather than learning.
Yes I do like to call out young people who have never encountered any major hurdles like car accidents, health problems like MMM or the Millennial Revolutionists who quit their high earning jobs at their career peaks and giving false hope to those that can't. They sicken me because they are too busy fooling people while making money off blogs, lectures, guest appearances, youtube, etc etc etc
Yes I do like to call out young people who have never encountered any major hurdles like car accidents, health problems like MMM or the Millennial Revolutionists who quit their high earning jobs at their career peaks and giving false hope to those that can't. They sicken me because they are too busy fooling people while making money off blogs, lectures, guest appearances, youtube, etc etc etc
In other words, if there isn't some iron clad guarantee, or because not 100% of people can do it, these people must be privileged and full of BS.
It's your way of diminishing their accomplishments and/or accusing them of lying.
As I've said the critics of the FI movement fall into a few camps:
--That's impossible
--You can't do that and have a life.
--They're lying.
You pretty much fall into all 3 at various times.
There are plenty of FI bloggers who are transparent about their income/expenses (such as Justin at www.rootofgood.com), but you (deliberately?) ignore them.
There are plenty of FI bloggers who are transparent about their income/expenses (such as Justin at www.rootofgood.com), but you (deliberately?) ignore them.
Of course I'm going to ignore it. They are still all working at side gigs making money off the hopefuls. I just feel bad for those that leave their good paying jobs without the supplement income these guys make pulling the rug under them.
Did you notice both MMM and Millennial Revolutionists are engineers from Canada where tuition is much cheaper than the States? No wonder they paid off their student loans if they had any. If they went to the States they would probably have to put off retiring 5 years later because of their student loans.
I do wonder what MMM is going to tell his kids if they wish to attend college. Would love to listen to that conversation.
What most people on CD would do is not relevant to my commentary nor is the idea of living off of 20k a year which I wouldn’t want to do but understand that’s feasible. It’s how he got there that is and has always been questionable given that he started that thread asking who wants to join him leaving out the most pertinent information
That's exactly it. People don't retire in their twenties unless they've had some help.
I do wonder what MMM is going to tell his kids if they wish to attend college. Would love to listen to that conversation.
Quote:
Originally Posted by https://www.mrmoneymustache.com/2018/10/05/the-fire-movement/
For example, my son will be reaching University age in just five more years. I haven’t bothered to set aside any money for this part of his education, because we already had way more than enough before he was born!
On top of that, financial independence gives us many more options to handle any unexpected expense, whether it’s education, health, or anything else. For example, as a team my son and we parents could easily:
shop around to find the most cost-effective way to get any given degree (start with community college for the first two years, compare different schools, etc.)
earn more merit scholarships to get through even an ivy league school for free.
earn more money to pay for any cost shortage
bypass university entirely and simply start a business
move to another state or even country in order to qualify for local tuition rates or more reasonable medical rates
use personal relationships to get cheaper or free education or medical care in exchange for helping teachers and doctors with something they need from us.
He didn't mention TA and the GI Bill, but lots of people have used those as well.
Of course I'm going to ignore it. They are still all working at side gigs making money off the hopefuls. I just feel bad for those that leave their good paying jobs without the supplement income these guys make pulling the rug under them.
Did you notice both MMM and Millennial Revolutionists are engineers from Canada where tuition is much cheaper than the States? No wonder they paid off their student loans if they had any. If they went to the States they would probably have to put off retiring 5 years later because of their student loans.
I do wonder what MMM is going to tell his kids if they wish to attend college. Would love to listen to that conversation.
I'll just quote what Mathjak always says. People who want to will find a way. Others just find excuses. We both know what camp you're in.
I can point to other bloggers where that wasn't the case, but why bother? You'll just come up with another reason why:
--They're not really retired because they earn an income at something they like - (aka "They're lying)
--They're privileged in some way (they're from Canada where tuition is cheaper, they had rich parents, they're engineers, and on and on and on and on and on).
It's easier to just be a defeatist. Then you don't have to try. You don't have to risk anything. You don't have to re-evaluate anything in your life that you could do better.
Obviously harder to find the great deals now compared to 2+ years ago, but they are out there if you aren’t super picky.
I’ve put into the system what was required of me while building my wealth. I can’t do much else. I do pay taxes...a little income taxes, property tax, sales tax, etc.
Thanks for the link. Since you have a budget of 20 k how would a 5k roof affect that?
Of course I'm going to ignore it. They are still all working at side gigs making money off the hopefuls. I just feel bad for those that leave their good paying jobs without the supplement income these guys make pulling the rug under them.
Did you notice both MMM and Millennial Revolutionists are engineers from Canada where tuition is much cheaper than the States? No wonder they paid off their student loans if they had any. If they went to the States they would probably have to put off retiring 5 years later because of their student loans.
I do wonder what MMM is going to tell his kids if they wish to attend college. Would love to listen to that conversation.
wait... so you think they are required to stop making money because they don't need it?
If someone was driven enough to figure out how to get to financial independence... they would know how to manage their money without having someone tell them how to do it
you think student loans are what holds people back from their goals? the loans can be paid off quickly for people aiming for early retirement. To retire in their 30-40s, the amount of money someone has to put away will more than eclipse any college debt. They would be putting away $20-50k/year into their retirement fund. If they can do that, then they can spend an extra year or two and pay off the loans without an issue. But yes, it helps to make enough money to be able to do that as well. That's the problem isn't it? Most people don't have that much leeway in their salaries until they are mid-career. That by default pushes their retirement age into their 50-60s. To max out a 401k+ira alone is $25k/year, then add in the taxable account savings... and yes it means young FIRE people tend to have higher salaries
To me, so many of these debates come down to your personal values and what makes you happy ultimately. If you value your time above all, and have ways to fill that time that are inexpensive (maybe your favorite thing is just watching Netflix, which is so cheap, or writing, or spending time in nature like hiking, so many things), it makes perfect sense that you'd do just about whatever it takes to retire earlier and start enjoying your life more. Especially if you just never found a job you really enjoyed. You could probably plot these things on a graph even. If someone rates their job 8/10, they may be completely fine with living a higher expense lifestyle and enjoying "the finer things" because they also like their work, maybe it's very satisfying to them, maybe they like their coworkers, maybe they feel personally fulfilled by it, who knows what the factors are for them.
If someone hates their work, or they're just being honest that no work sounds THAT appealing to them (hey, I can't judge, honestly most jobs sound horrible to me, too), then earlier retirement even if it's not a luxurious retirement starts to sound like a pretty good option. Of course, if it were me, I'm a cautious person with anything in life, I don't like to do the minimum. If I knew I could retire with $1M I'd want to have $1.5M just to be safe, or more. For me, if I were in most peoples' shoes, I wouldn't stop working until my passive income was enough to live on. I would never dip into my net worth to live. That's just me.
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