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Old 10-13-2017, 05:21 PM
 
Location: On the road
5,922 posts, read 2,885,080 times
Reputation: 11308

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Quote:
Originally Posted by Perryinva View Post
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.
Indeed!

FI = yes! Building a wind powered vegetable canner = no thanks.
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Old 10-14-2017, 02:44 PM
 
439 posts, read 198,768 times
Reputation: 344
Quote:
Originally Posted by Submariner View Post
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.
Submariner so sorry to hear this. But I do love your posts when you talk about your life now

We are hoping to get there soon, live similarly. Even considering putting in a garden to sell some vegetables at the farmers market. Due to injuries, my husband needs to slow down. It should keep
him busy making a little money while I am at work. And home much of the time, not having a regular gjob. We might remodel and rent out part of the house we are trying to buy. It is currently in escrow
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Old 10-16-2017, 09:53 PM
 
33 posts, read 14,927 times
Reputation: 92
Quote:
Originally Posted by Jeaniee View Post
Mr Money Mustache hardly moderates his forum.

There is nothing to moderate, no one argues over there

And when they do, people just get over it

It's just another income stream

He probably works part time but that's about it
Just because people aren't arguing doesn't mean there's nothing to moderate. Even just moderating the spam and bots that post nonsense all over the forum is a full time moderating job.
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Old 10-28-2017, 08:00 PM
 
5 posts, read 1,558 times
Reputation: 25
Mr Money Moustache doesn't moderate his forums? Hmm, I should go spam over there... kidding!

I absolutely buy into his idea after hearing him on Tim Ferris' podcast a while back. The only problem is how do I get the huge sum of money that he made and eat interest off of it every year. Saving up $750,000 felt like impossible at my previous job. I was saving $20 to $30k per year tops, and that's above average compared to most people. But at that rate, it will still take close to 20 years, and that's assuming I didn't get fired or have other issues that needed the cash.

Write now I'm investing into cryptocurrencies and I think I can get there a lot faster. It is riskier but like that saying goes, "Nothing ventured, nothing gained".
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Old 10-29-2017, 03:05 AM
 
71,468 posts, read 71,652,652 times
Reputation: 49027
i managed to get put in time out there arguing with some of those people . so i guess it certainly is moderated .
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Old 10-29-2017, 08:06 AM
 
26,075 posts, read 28,478,940 times
Reputation: 24783
Quote:
Originally Posted by jacknai View Post
Mr Money Moustache doesn't moderate his forums? Hmm, I should go spam over there... kidding!

I absolutely buy into his idea after hearing him on Tim Ferris' podcast a while back. The only problem is how do I get the huge sum of money that he made and eat interest off of it every year. Saving up $750,000 felt like impossible at my previous job. I was saving $20 to $30k per year tops, and that's above average compared to most people. But at that rate, it will still take close to 20 years, and that's assuming I didn't get fired or have other issues that needed the cash.

Write now I'm investing into cryptocurrencies and I think I can get there a lot faster. It is riskier but like that saying goes, "Nothing ventured, nothing gained".
Saving 20k to 30k per year is great compared to most people. They key, though, is your after tax savings rate as a percentage of your income, as explained here:

The Shockingly Simple Math Behind Early Retirement

Of course, you'll need to invest the money, not just leave it in savings accounts. Mr. Money Musstache recommends index funds such as Vanguard'd Total Stock Market Index fund. Being 100% in stocks is a little too aggressive for me, so I'd say a fund like Vanguard Wellington or Vanguard Balanced Index would be better.

He talks about how to make your spending more efficient right on his "Start Here" page (toward the bottom):

http://www.mrmoneymustache.com/2013/...one-blog-post/
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Old 10-29-2017, 09:29 AM
 
Location: Central IL
15,201 posts, read 8,509,345 times
Reputation: 35575
Quote:
Originally Posted by mysticaltyger View Post
Saving 20k to 30k per year is great compared to most people. They key, though, is your after tax savings rate as a percentage of your income, as explained here:

The Shockingly Simple Math Behind Early Retirement

Of course, you'll need to invest the money, not just leave it in savings accounts. Mr. Money Musstache recommends index funds such as Vanguard'd Total Stock Market Index fund. Being 100% in stocks is a little too aggressive for me, so I'd say a fund like Vanguard Wellington or Vanguard Balanced Index would be better.

He talks about how to make your spending more efficient right on his "Start Here" page (toward the bottom):

Getting Rich: from Zero to Hero in One Blog Post
The part that may not be stressed enough is that the reasoning behind the calculations is that you're able to save a lot because you're living on so LITTLE. And that this % is not just what you're sacrificing for the years you are saving FOR retirement but is also the amount you'll be LIVING on THROUGHOUT retirement. ...at least for the calculations to hold.

So people shouldn't think they'll scrimp at this level for 10, 15, or 20 years and then be rolling in the dough for a "luxurious" retirement - nope, it'll be just the same level that you've been living at while saving. I know some folks on here will say that's fine...but others might be surprised.
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Old 10-29-2017, 02:03 PM
 
Location: Tennessee
23,541 posts, read 17,535,380 times
Reputation: 27576
Quote:
Originally Posted by reneeh63 View Post
The part that may not be stressed enough is that the reasoning behind the calculations is that you're able to save a lot because you're living on so LITTLE. And that this % is not just what you're sacrificing for the years you are saving FOR retirement but is also the amount you'll be LIVING on THROUGHOUT retirement. ...at least for the calculations to hold.

So people shouldn't think they'll scrimp at this level for 10, 15, or 20 years and then be rolling in the dough for a "luxurious" retirement - nope, it'll be just the same level that you've been living at while saving. I know some folks on here will say that's fine...but others might be surprised.
Most people donít want to live at that level. You also need a fairly decent income to even subsist while saving at those levels.
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