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Old 10-10-2017, 04:52 PM
 
71,517 posts, read 71,694,121 times
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The day i leave nyc because i can't grow a vegatable garden is the day you can bury me.
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Old 10-10-2017, 05:32 PM
 
71,517 posts, read 71,694,121 times
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Quote:
Originally Posted by Escort Rider View Post
What an absurd conclusion! Why would Mathjak need to move? From reading his posts over a number of years, it is clear to me that he lives where he wants to live, and that he has the financial wherewithal to have choices about where he lives. He and his wife have made their choice. Do you have any idea how arrogant your post sounds?
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Old 10-10-2017, 06:10 PM
 
439 posts, read 199,120 times
Reputation: 344
Quote:
Originally Posted by StealthRabbit View Post
Actually... Many pursue this lifestyle BECAUSE, and for the benefit of their kids! (as did MMM)

My objective was to spend as much time mentoring and exposing my kids to choices and learning's as possible - ideal be 'retired' / between jobs during the yrs I have children under my roof.

What's 'best' for kids is very different and subjective.

Many MMM folks Homeschool (Which many people (here) also disdain).

I consider the 18 yrs I spent with each kid to be treasured, so... I invested those few years WITH my kids (i.e. time) , but that is not necessarily what was best. They survived and so did I. (At huge 'opportunity costs' )... Homeschooling / working nights, / living internationally for 6 yrs / helping them design and build their own homes (While they were Jr High age), adding to their ROTHs (since age 12), teaching them how to rebuild engines, build furniture, wire and plumb a house, build commercial buildings, HVAC...(as well as primary education.

All on a shoestring, but very productive and efficient. (we drove a $35 car that gets 50 mpg on free fuel (homebrewed of course). and no TV (of course) = no video games, but LOTS of 'shop / farm / garden / music / art / livestock 'opportunities' Probably not BEST for my kids, but... was a lot of TIME and they benefited and are doing very well 10+ yrs beyond college (which they funded 100% on their own, because we equipped them to do so! using our TIME).

YMMV, but I would be cautious top fault MMM 'principles' as potentially damaging to children. Being poor and working together as a family could be a benefit!
We are discussing a financial website so I've never ran across any "MMM principals geared towards children"
Certainly not that I read anyhow. Certainly none bad for children unless that's what you derived since you brought it up
Nor have I read any disdain for homeschoolers
Creature of habit means I visit the general forum only

So that is where I derive my opinion from
Lay off the caffeine will ya

Last edited by Jeaniee; 10-10-2017 at 06:37 PM..
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Old 10-10-2017, 06:23 PM
 
439 posts, read 199,120 times
Reputation: 344
Quote:
Originally Posted by Escort Rider View Post
What an absurd conclusion! Why would Mathjak need to move? From reading his posts over a number of years, it is clear to me that he lives where he wants to live, and that he has the financial wherewithal to have choices about where he lives. He and his wife have made their choice. Do you have any idea how arrogant your post sounds?
That was a joke
FTR, I got a few greenies telling me they understood it as a joke
One mentions your name specifically, now I see why
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Old 10-10-2017, 07:10 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,555 posts, read 39,934,465 times
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Quote:
Originally Posted by Jeaniee View Post
We are discussing a financial website so I've never ran across any "MMM principals geared towards children"
...
It is always wise to FIRST... 'know the context'...
Consider reading "About" MMM (I seek to understand the "PURPOSE" before absorbing any content...)
https://www.mrmoneymustache.com/about/
"Mostly a family man, generally silly".
Then we retired from real work way back in 2005 in order to start a family


Adeney often says that one of the reasons he retired was to be present and fully engaged as a father: “I idolized the idea of being a good dad.”
https://www.newyorker.com/magazine/2...he-frugal-guru
...a very interesting blurb about how the MMM principles affect childrearing...

"
“He’s a born and bred consumer,” Adeney said, of the other boy. “He doesn’t have a ..'B-S' detector.”
Adeney pays Simon ten cents for every mile he rides on his bicycle. So far, Simon had logged thirteen hundred miles. Simi’s father, to their dismay, also sometimes gives Simon money. Now the boy had seven hundred dollars, which he had deposited in the Bank of Mr. Money Mustache, at an annual interest rate of ten per cent. With regard to college, Adeney said, “I would rather Simon find a way to pay for it himself.”
"

I can relate to that... no TV.. so our kids complained "but...All our friends have Nintendo" my inappropriate response... "You need to find some other friends" that got the same response as DW when I threatened to add a "$0.25 meter" to the hot water (shower)... just like the campground.
But... our kids bought their own clothes from age 12, and paid 100% for their cars and insurance, not because I was cheap (I had funded $12k into each of their ROTHs by age 16). They could learn to drive a $35 car, or find their own wheels... They were capable of either. Fuel was FREE, cuz I taught them how to make their own FREE FUEL.

College - that was ALL theirs... Free in WA State for those in High school, + loans were CHEAP, and as 'seasoned investors' they were able to invest the 'equivalent' of college loan proceeds at great gain, then consolidate college loans @2.7% for 20 yrs... . They are still making good money (investment returns) on the equivalent of their student loans (CHEAP capital).

Last edited by StealthRabbit; 10-10-2017 at 07:28 PM..
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Old 10-12-2017, 07:03 PM
 
Location: On the road
5,936 posts, read 2,888,852 times
Reputation: 11341
Quote:
Originally Posted by JakeinChina View Post
Work overseas if you really want to get ahead.
This depends on lots of other factors, just having a job overseas isn't by itself a better way to get ahead and in many cases can be worse.

I'm not trying to take anything away from living overseas (I don't live in the US) but USA has lots of opportunities and there are many ways to make a lot of money.
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Old 10-12-2017, 10:42 PM
 
18,853 posts, read 13,601,877 times
Reputation: 14271
Quote:
Originally Posted by Submariner View Post
I started in 1985. I was attending college [UC-Fresno] on the GI-bill [I had already served 6-years in the US Navy] and working f/t for Minimum-Wage, when we bought three houses on a single lot in California, for $75,000. We got a 'first-time home-owner' zero-down FHA 30-year loan at 10.5% My family lived in one house and we rented out the other two houses.

Then in 1987 I re-enlisted and we were stationed in Scotland. Where I bought a five-plex [for 30,000 pounds], we lived in one unit and we had four tenants. [Their mortgages are different, we paid the interest, but there was nothing going to the principle. There was a life insurance policy that we paid on that when it matured it would roll-over and pay-off the outstanding mortgage].

Then in 1990 we sold the Scottish property and we were stationed in Ct, we got a Tri-plex for $125,000. That was another 'first-time home-owner' 30-year loan at 10 and a fraction%

In 1993 we were stationed in Wa, where we got a Four-plex property I was underwater for the closing I do not recall the exact amount, our rental income carried the mortgage payments.

In 1997 we went to Italy and we were put into government leased quarters. We sold the Ca and Wa properties and rolled the equity into the Ct property.

I got my pension in 2001, and we returned stateside. We refinanced the Ct property and we used the money to buy our retirement homestead in Maine, with cash [no mortgage].

After 16 years of living on pension, we got an inheritance. We used it to buy a commercial downtown building that we are remodeling into apartments.





My highest salary income was about $65,000/year. You have far more salary income than I ever had.

But then again I was supporting a family

You left out your bankruptcy fyi
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Old 10-13-2017, 07:39 AM
 
Location: Forests of Maine
30,680 posts, read 49,437,227 times
Reputation: 19129
Quote:
Originally Posted by Lowexpectations View Post
You left out your bankruptcy fyi
Yes I did.

I got my pension in 2001, refinanced our Ct property and used the money to buy our retirement homestead in Maine.

In 2008 our tenants all lost their jobs as the employers in that area had huge lay-offs. We tried to find other tenants, but we were not able to find any. We used up our savings to cover the mortgage payment until we ran out of savings.

We tried to do a short-sale of the property, but the bank refused to go along with it.

Instead the bank decided to sue us for the property and the outstanding mortgage.

In 2009 we went through bankruptcy.
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Old 10-13-2017, 12:10 PM
 
439 posts, read 199,120 times
Reputation: 344
Quote:
Originally Posted by StealthRabbit View Post
It is always wise to FIRST... 'know the context'...
Consider reading "About" MMM (I seek to understand the "PURPOSE" before absorbing any content...)
https://www.mrmoneymustache.com/about/
"Mostly a family man, generally silly".
Then we retired from real work way back in 2005 in order to start a family


Adeney often says that one of the reasons he retired was to be present and fully engaged as a father: “I idolized the idea of being a good dad.”
https://www.newyorker.com/magazine/2...he-frugal-guru
...a very interesting blurb about how the MMM principles affect childrearing...

"
“He’s a born and bred consumer,” Adeney said, of the other boy. “He doesn’t have a ..'B-S' detector.”
Adeney pays Simon ten cents for every mile he rides on his bicycle. So far, Simon had logged thirteen hundred miles. Simi’s father, to their dismay, also sometimes gives Simon money. Now the boy had seven hundred dollars, which he had deposited in the Bank of Mr. Money Mustache, at an annual interest rate of ten per cent. With regard to college, Adeney said, “I would rather Simon find a way to pay for it himself.”
"

I can relate to that... no TV.. so our kids complained "but...All our friends have Nintendo" my inappropriate response... "You need to find some other friends" that got the same response as DW when I threatened to add a "$0.25 meter" to the hot water (shower)... just like the campground.
But... our kids bought their own clothes from age 12, and paid 100% for their cars and insurance, not because I was cheap (I had funded $12k into each of their ROTHs by age 16). They could learn to drive a $35 car, or find their own wheels... They were capable of either. Fuel was FREE, cuz I taught them how to make their own FREE FUEL.

College - that was ALL theirs... Free in WA State for those in High school, + loans were CHEAP, and as 'seasoned investors' they were able to invest the 'equivalent' of college loan proceeds at great gain, then consolidate college loans @2.7% for 20 yrs... . They are still making good money (investment returns) on the equivalent of their student loans (CHEAP capital).
Yes I believe this is cut and pasted from his website.

ABOUT Mr Money Mustache is exactly that. It is about the creator of said website. His beliefs stem from his experiences. As a former school teacher, his kids may have been playing Nintendo instead of doing homework hence the "find different friends comment". Maybe he's a bit sensitive about video games. He's also pushing 40 now so may not feel that way, as he did in his 20's when the blub was inserted

You parent your kids per your beliefs and values. MMM does the same.
If you want to start a website called Stealth Rabbit (good name, btw!) then include an ABOUT ME page. Your advice will inevitably relate to your own circumstances. OR at least much of it will. Readers know they cannot duplicate everything he does. Different State, Different Skillset, Different abilities, Different place in life (older versus younger people).

Various posts at MMM often state he is pushing this or that. I cycle and they say he pushes that. Of course, it's free and keeps you healthy. Even if he wasn't a cyclist how could this avenue be omitted? Hardly anything over there I follow. Truthfully. But it did get me jazzed to get my finances together. What I do is on such a small scale compared to the high rollers over there but still find something to glean from them. Whether they take being challenged upon their beliefs is another story. Not that I do but many are very educated about financial topics who can hold their own. JMHO of course
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Old 10-13-2017, 01:44 PM
 
Location: RVA
2,164 posts, read 1,265,616 times
Reputation: 4451
I heartily agree that for individuals that have not started a plan for FI there is much that is useful that can be gleaned from his site. Just like many others or books that have existed. His approach (as Stealth Rabbit is an example for), is just one (rather extreme and lucky ) way of achieving FI. His catchy, easy to remember , bring a smile to your face name & down to earth writing are his brand. He popularized his blog format and is making a VERY good living, far beyond, Im sure he ever expected. Many people, like myself, were already well on their way or already FI in a lifestyle and concept of their own, far more palatable than his, by the time he came on the scene.
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