Mr. Money Mustache Interview – Early Retirement Made Easy


Intro: I’m blinding you with fience! Mad Fientist: Wow! What a ridiculously amazing intro. Welcome everyone to the first episode of the
Mad Fientist, Financial Independence Podcast. I’m thrilled to introduce my guest today. He was able to retire in his early 30s and
is now one of the most entertaining and informative personal finance writers around. It’s only been just over a year since he
started his blog, mrmoneymustache.com, but his popularity has exploded and continues
to grow with each intelligent and hilarious article he writes. Without further delay, it’s my absolute
pleasure to welcome Mr. Money Mustache. Thank you very much for being here. I really appreciate it here. Mr. Money Mustache: All right. Thanks a lot, Mad Fientist. It’s good to be here. Mad Fientist: Thanks. For those that don’t know your story, could
you just take us back to the start? How did you get on this journey to financial
independence? Mr. Money Mustache: Yeah. The thing about the story is that it’s not
really all that amazing. In fact, it seemed pretty normal to me. That’s what led to the blog, because I did
something that I felt was fairly normal and then I ended up as sort of semi-retirement
shortly after age 30. Then I looked around and nobody else was even
closed to retired, so that’s what compelled me to feel like I had to start writing about
it. If you go back before that, how it started,
I think I got a relatively early start to saving up some cash and getting to financial
independence. I had slip-ups along the way and I wasn’t
particularly hardcore, but a few things that did speed me up were … I started pretty
young. In high school, my parents made it clear to
me that I need to pay for most of my own education, so I had jobs starting around age 15 working
at a gas station, the convenient store, a hardware store and all those years I saved
up towards college. The understanding was like when you get these
part-time jobs, you’re not just buying a car with it or just drinking it away. You have to save most of it. I probably saved up maybe 10 grand towards
college tuition back in high school. Even then, there was room for spending, too. I had a motorcycle back then, a nice stereo
and girl friend. I thought I was leading a normal high school
life. In college, I think that’s where the real
difference happened because I just got a good job every summer. I’m making 12 to 15 bucks an hour and I
would save that for the next year’s tuition. I notice a lot of my co-students, they had
stuff that I thought was amazing. They had laptop computers and back then that
was pretty an amazing thing, expensive thing to have. They had cars. They had their own dedicated $600 a month
apartments, whereas I was just living with my family. It’s a real difference in … My goal was
spend no more than what I earned. For other people, borrowing was an option. It’s really just a foundation of not living
beyond your means. I think I didn’t even know that you could
get loans back then, or if I did, I’d thought, “Why would want a loan? It’s scary.” Mad Fientist: Right. That’s interesting when you said that you
didn’t even realize that this was eventually your goal. You were just living this lifestyle and it
just came easy. As you discussed a lot in your blog, this
isn’t rocket science and that it isn’t impossible for average earners. You’ve demonstrated that you can still live
a really good life without all of the stuff that all the other people are buying. Now you’ve retired and living an even better
life. That’s incredible. As you amassed this amount of savings, when
did it click that you’re like, “Hey, wait a second. I could actually stop working soon”? Mr. Money Mustache: Yeah, that took a while
because at first, once I graduated as engineer, I got a job, so the pay was better. I was making like $40,000 when I first graduated. That eventually went up to just over 100 grand
over the next five years. I just kept spending at the normal level of
what a typical person who makes 30 to 40 grand might spend. Eventually, my goal was just to make as much
as possible and I figured I don’t want to waste money but I’ll just spend on whatever
I want, so travel and everything else. Then the money just start building up. I think I just read books on investing and
I started to think, “What do you do when you have extra money and you don’t want
to spend it?” Then the idea of getting more serious about
understanding investment gradually formed itself in my mind. I finally, I didn’t have like an epiphany
moment, but I just realized that money makes money for you. Your real goal is just to have enough money
that it continually makes money so that you don’t have to work anymore. It was probably about, I don’t know, like
five years into my career and I had savings growing and then I thought, “Let’s just
go the rest of the way and get these savings up to a big enough level where we can quit.” I was also, by the time I just recently gotten
married, my wife and I were thinking of starting a family at some point and we always wanted
to have the type of…not the busy kind of lifestyle that we saw other people with kids
have where you’re like shuttling your kid around and you’re always busy. We wanted to be just home with the kid. Free to do whatever you want. You can spend days at home with them or you
can go out on trips with them. There’s no mandatory office shifts mixed
in with this already difficult thing of having a baby or a young child in our house. Mad Fientist: That’s the one thing when
reading your blog that I really picked up on this just how lucky your child is to have
both parents at home. You see all these parents buying three different
types of strollers for all different terrain and things like that, but then they have to
work 40 hours, 60 hours a week. It really comes out in your writing just how
great financial independence is, not only for you and your wife, but for your son. Mr. Money Mustache: Yeah. It really changes the parenting experience,
which is a little hard to express to people who don’t have kids yet. Kids are such a huge commitment. They take so much time and they keep you all
up at night when they’re babies. The more time you have for your kid the better,
especially if you’re one of those types of people that really wants to do a good job
at whatever you do, say you’re a dedicated career person. Then you have a kid or two, you’re going
to be comparatively quite crappy at your job because all of a sudden you have to miss sick
days and you’re always taking calls from home or you don’t feel like you can work
late because there’s people waiting for you at home. Your mind is divided. I really like the idea of if you are lucky
enough to get started early, thinking about this plan like when you’re 20 to 23 or whatever,
get your money earning and your career kickassing done in advance while you have time to focus
on it. Then when you have the kids, you have time
to focus on them. It’s OK if you suck at your job or preferably
you don’t even have a full-time job during your kid-raising years because just one thing
at a time. Mad Fientist: Yeah, absolutely. That seems definitely like the best way to
go. You mentioned five years before you actually
became financially independent, you started seeing your savings grow and thought, “Hey,
I need to invest this and help it grow it more.” You mentioned that you read a few books. Do you have any that you would recommend to
other people that are in the same shoes you were at that stage? Mr. Money Mustache: Yeah. Investing is pretty simple at least if you
do the stodgy old man way, which is basically you don’t buy Apple stock, you don’t buy
a Facebook stock, you just buy a big index funds from the Vanguard Company where you’re
basically buying a huge slice of the US economy and then you buy another huge slice of the
European economy. You’re not trying to predict ups and downs. You’re just throwing all your money in there. It grows by itself. It’s very stable. You get dividends from it. The funny part about that style of investing
is that it’s the easiest kind. From an academic perspective, people who do
studies on this, they prove that it’s also the most efficient kind in terms of risk versus
reward ratio and stuff. Yeah, it really does work great. Vanguard is, in my opinion, one of the best
companies to do that because their fees are the lowest, so it ends up being hundreds of
thousands of dollars that you save up for lifetime in investment management fees, which
is pretty significant. It makes it really simple. One book that talks about that and nice, all-in-one,
is one called The Four Pillars of Investing by William Bernstein, I think is the author. That’s pretty good. You can go from a beginner to everything you
need at one book. Another one is cool, it’s called The Random
Walk Down Wall Street by … I forget. Is it the same author or another one? Anyway, it’s a pretty famous book. It basically will be able to teach you to
fear crazy, active investing, which you should fear. You should be afraid to buy Facebook stock
on its IPO day. You should be afraid to try to time the market. That’s the kind of the stuff that you want
to beat out of your natural personality if you want to become a long-term wealthy investor. Mad Fientist: Excellent. Five years, you started to invest in index
funds and it’s really starting to grow then. Can you describe that day that you realized
you’re going to be able to stop working and quit your job? I guess you said that you and your wife are
both on this path together. Was that a joint decision or did one of you
work longer than the other? Mr. Money Mustache: Yeah. The having the wife on board thing was really
great. I think if you want to put a chronology to
it, it’s the guy and the girl decide they want to have kids and then they decided to
get more serious about the savings. I think we would just each made our own spreadsheet
of how much we’d saved up and how things are doing. Maybe after each paycheck or every couple
of paychecks we would update our stuff and get the latest stock prices and stock amounts
and dividends and add it all in. We were excited because we would see this
forward progress. Then we started tracking our spending a little
bit and we figured … I thought then we were spending a lot because we were traveling a
lot and still with mortgages and everything, too. I think we were spending about $40,000 a year
just between the two of us with no kid. The idea was get enough money saved up so
that the passive income could equal this $40,000 we need. Gradually, that formed into rough guess of
how much we needed to save, so then we just started working towards that number, savings,
and then got closer and closer. There were various hiccups along the way and
changes, but eventually, once we got to the number safely, then we felt, “Oh, it’s
fine to quit the jobs,” so we did. I quit mine and she quit hers and then my
wife moved into a part-time casual job for a while and then I’ve done a bunch of stuff
since then. I’ve done various kinds of work and non-work. The parenting part has really cut down our
ability to work. We’re really unproductive individuals now
compared to when we were in our 20s. We’re just being conscious and saying, “Yeah,
that’s just part of being a parent.” You’re not going to kick ass at anything
in particular. It’s OK if I can’t answer all my Mr. Money
Mustache emails or do the best blog posts that I would if I had eight hours a day free. Later on, kids grow up and then there’s
a chance you might get more hardcore about something in the future. Mad Fientist: Did your employer know what
you guys are up to or did you just quit or did they actually know that you’re retiring? If so, what was their reaction like? Mr. Money Mustache: Yeah, they did because
I was pretty close with my co-workers at the hi-tech company. I told them over that final year. It’s almost like a religion, financial independence
because you start to wonder out loud, “Why that guy just bought a BMW when he doesn’t
even have his house paid off,” or stuff like that. We talk about various financial crazinesses
in the world and then that leads to talk about how you would eventually want to stop working. When I did stop working, by that time, my
co-workers had figured out that I was planning to not get another job. Yeah, most of them thought it was pretty cool. There were a couple of people that were far
ahead of me but they just were enough tuned in to work but they didn’t want to quit
even though they can easily afford to. Those guys and girls, they were just pretty
supportive and not skeptical at all because they’re like, “Yeah, that’s what I’ve
been in the situation for the last 10 years but I just work because I like engineering
or something.” Mad Fientist: Wow! Did any of your colleagues see the light and
say, “Wow! I should be doing this.” Did any of them drastically change and start
on that path to meet you in retirement in a few years? Mr. Money Mustache: Yeah, there are a couple
of people. It’s like a spectrum of people, consumers
and spectrum disorder you could call it. There’s some people who were sort of like
you, the Mad Fientist, who had the tendency of this and then they got the tendency to
want to be financially independent. Once you realize it’s possible and someone
tells you, then you start to go more and more that way. On the other side, there were people who were
the extreme spenders who just always insist that it’s impossible. Those people still work there today or at
other company. Whereas, some other people I know have actually
gone into early retirement since in the six years or seven years since I quit there. It’s kind of neat. I don’t know if I influenced them all that
much. Some of them are Mr. Money Mustache readers. Mad Fientist: That’s awesome. Mr. Money Mustache: With those one maybe are
getting more influenced. Mad Fientist: Nice. You mentioned that you were planning to have
your passive income be able to sustain you. How did you generate the passive income? Was that from dividends on your investments
alone or did you start any passive income businesses? Mr. Money Mustache: Yeah, that’s still changing
over time. During the saving years, my plan was that
it was just going to be stocks. I didn’t really know much about dividends
at the time. I just knew that stocks go up and they give
you a bit of dividends. You get dividend checks and then you also
sell a tiny bit of your shares, that you can live off them. Right before I quit that job, we moved to
a different town, nearby town, and I kept the old house and rented it out. At that time, interest rates were going down
a lot, too. My first mortgage was 7.8% interest rate,
which people thought was good at the time, and then that dropped and dropped and dropped. At one point, I refinanced it down to the
fours or something. All of a sudden, the mortgage was lower, but
my neighborhood was doing great because it’s right next to Boulder, Colorado, so I was
able to rent out the house a lot for a great high rate. Then the rent from that was just paying for
itself and for our new house’s mortgage, so then I basically had stumbled into the
magic of real estate and landlording, which a lot of people have known about that for
many generations. For me it was new, so I thought, “Wow! This house is working for me and doing a lot
more work even though it takes almost no work to manage it.” Then I got a bit more interested in owning
rental houses. Now, my biggest source of passive income is
another rental house that I have in this town, the city I live in right now. Overall, for people who are interested in
stuff like that, like interested in houses and real estate, that’s a source of passive
income that’s much better than stocks and dividends if you know what you’re doing,
because the rate of return is much higher. In stocks, if you buy a dividend fund at Vanguard,
you can get 3% to 4% per year. You can buy real estate investment trusts
through the stock market that pay 6% to 8%, which is fairly good. $100,000 invested will give you a 6,000 to
8,000 a year. A rental house or like a small apartment building
or a duplex or whatever, it’s not unheard of for those things to give you 10% of their
value even after paying for all their expenses per year. In that sense, you could just have three rental
houses worth $100,000 and then you could have 30,000 of income from them. There’s all kinds of people who comment
on the Mr. Money Mustache forum who are really crazy into this. People with dozens of properties or somewhere
between three and 30. Even if they borrow money to buy these things
on 30 year mortgages, these guys have become financial independent with hardly even any
of their own capitals. They just have this flock of well-chosen rental
houses. Mortgages are paying themselves. They had to put small down payments on but
not a huge amount. There’s all kinds of fancy ways to get a
living without even having to resort to stocks. It just depends on how conservative you are. Stocks are the most conservative and safe. Real estate takes a bit more knowledge and
skill. There is a risk because if you don’t know
what you’re doing, you can end up getting underwater properties with loans like everybody
did in 2008. Mad Fientist: Sure. Reading the Mr. Money Mustache site often,
I know that you’re very handy and you have many skills that would be good for fixing
up houses and things like that. Do you think that’s essential in getting
into that rental investing? It obviously can’t hurt, but do you think
it’s something that’s essential or could somebody with minimal skills develop them
as they go along with their first rental property? Mr. Money Mustache: Yeah. It’s definitely not essential because it
just depends on your personality type. If you like managing people or making phone
calls, you can hire contractors and handyman to take care of your properties and you never
have to lift the screwdriver at all. I personally, am the opposite kind of personality
where I really don’t like having to call people and deal with people screwing up and
everything. I just love doing stuff myself. For my personality, I would only be a happy
landlord if I was able to take care of minor or major stuff myself. It all depends. Yeah, there’s definitely some super successful
property owners who are not carpenters at all. My idea of fun is building stuff. Even now in retirement, I do a lot of building
stuff. Time flies by when I do that and I have a
great time. I’m never going to stop that. By mixing it in with property ownership, it
makes even more of a game of it. On the blog, we documented a thing where we
bought a really junky house in my neighborhood that was unlivable and then fixed it up over
a couple of months period to be somewhat stylish and then rented it out for a pretty good rate. By buying it so cheap from this bank, it was
like a foreclosure situation, then fixing it up. You get this great combination of artistic
design and carpentry work and a little bit of business work of renting it out. Then it turns into this passive income which
is paying 10% per year or whatever. Mad Fientist: Yeah, that’s amazing. It sounds like you have the ability to continue
to make more and more money even after you retire. People will probably get scared that, “Oh
no. I quit my job and then this chunk in the bank
has to sustain me until I die.” Reading your blog and seeing all the great
things you’re doing after retirement. It just makes you think that there’s even
more income out there than you can probably expected when you first quit your job. Mr. Money Mustache: Yeah. That’s a cool part. A job is a bit of a soul-sucking enterprise,
especially if it’s not the perfect job for you. All of your creative energy goes into that. Once you quit it, what I find anyway in a
couple of other people who have been in the same situation, your creative energy and your
skills come out of the woodwork and then all of a sudden, you find yourself doing stuff
that you didn’t have time to do before. Then it takes on a life of its own because
you’re not too worried about the money and then you end up with neat new careers you
never would have thought of. Since you and I have both written blogs now,
that’s an example in itself. I never thought I would be a writer of any
sort. I enjoy writing and reading and blah, blah,
blah, but all of a sudden, this thing has become super addictive and I love writing. Now my blog is maybe even a bigger job than
the carpentry was because it’s taken off in a sense. In fact, even the blog even started making
money, which I never expected. Yeah, a bunch of unexpected and fun stuff
happens when you stop working for a living. That’s a real key. It makes your life a lot more of an adventure
which I like. Mad Fientist: Yeah, it sounds amazing. What do you think, is that one of the things
about being financially independent? What do you think the best part is? Mr. Money Mustache: It’s hard to pick one
as the best part. The idea of freedom is great and the idea
of weekdays becoming your weekends. It’s really neat. I still get a bit of a thrill every Monday
morning and I wake up and I’m like, “Yes! It’s not a workday today.” Then it feels like … I don’t know. It’s just the idea of an unlimited weekend
is really magical. Probably because I worked really hard during
my days; I was a bit of a workaholic. In school, I was a bit of a schoolaholic where
I always thought you had to get these super good marks. I was probably torturing myself unnecessarily
during those years. If I could back in time, I would teach myself
to relax then. Now, with the actual lack of a real job, then
relaxation comes automatically, so you get this nice thrill like I don’t have to do
anything, but I just want to do stuff. It’s just a really nice feeling every morning
you wake up and there’s the sun and there’s more stuff you can do. The days aren’t really planned out and stuff
like that. Mad Fientist: Oh, man, that sounds great. Were there any tools or spreadsheets that
you used that were particularly helpful as you’re on your journey towards financial
independence? Mr. Money Mustache: Yeah. I heard that the Mad Fientist is into spreadsheets
and I definitely advocate that to people who are saving, but it’s been so long since
I used my own spreadsheets. I don’t have a good one to share. On the blog, we’ve had a series of them
on the Mr. Money Mustache blog. The most recent one, especially for US-based
people, there’s a thing called the Ultimate Retirement Calculator. The people who made it put it on their own
website after giving it to me. It’s called lifespreadsheet.com and that
thing is a great place for tracking your own earnings and savings and stuff. It’s a pretty fun spreadsheet. Personally, what I use right now, is just
the Mint, you know that financial service thing that’s free. I just use that as a net worth tracker. It just sucks the information out of your
bank account and your investment accounts to keep track of how things are going. The spending tracking is the part I find most
useful. I’m not super interested in net worth anymore,
but I do find it interesting to see how much I spend each month and then what it looks
like more, you just click on little part of the pie chart and it zooms in. It’s like entertainment, $500, you can zoom
in on that, like, “Oh yeah, this was the month that I bought the whole bunch of stuff
for a party or something like that.” Mad Fientist: Cool. I also use Mint. That’s an excellent tool. Mr. Money Mustache: Yeah. Mint is great for tracking. Spreadsheets are maybe better for predicting,
so making your own predictions of … I’ve been saving say like 10,000 a year for a certain
amount of time but it’s been going up. Then my investment are probably going to go
up by a certain amount, so making your own spreadsheet is a great idea for when you’re
in the early saving years and you want to get some estimates. Also, the spreadsheet that I mentioned, Ultimate
Retirement Calculator on lifespreadsheet.com also I think has some pretty good prediction
stuff. Mad Fientist: Excellent. Perfect. I’ll put a link to that on the show notes. Any final advice you’d give to anybody out
there, if there’s one thing maybe that you wish you would’ve done five years earlier
and you could have been retired before you’re 30? Is there any final advice, that one piece
of advice you would give anybody out there that are starting on this path? Mr. Money Mustache: I think the thing that
I would tell other people, I just mostly got lucky. I mean, lucky in the sense that I did things
that ended up being the right thing to do, looking back. For other people, what I would suggest is
make sure you’re thinking about your spending even more than your income. By understanding what happiness means and
helping to decouple the idea of happiness from owning certain things, you can really
amaze yourself at how fun your life can be because that’s the whole secret to living
a rich life is not feeling like you need more than you already have; otherwise, you’re
going to just be always craving more and more and more until you get to the Gulfstream G650
jet. Then you’re like, “Now I have everything
but I’m still not happy. Crap!” That’s because the happiness does not get
increased by buying stuff. Learn about happiness. Read books about happiness, that’s number
one advice because that’ll help you spend a lot less because all of a sudden it’ll
just kill so many of your material desires and then you’ll be so much happier. Really this whole thing about retirement and
early retirement and financial independence, it’s really a quest for happiness, so study
that independently of the money and then that makes the money part easier. Then another tactic that’s a little bit
less deep is my golden rule is that everybody has to ride a bike, which is almost a little
bit related to the happiness thing. A bike is like this distilled essence of life
where you get where you want to go, you get fitness, you get socialization, nature, badass-ity
in the sense that you get tougher and you’re forced to deal with nature. A bike is like a microcosm of leading a good
life and it also saves you a ton of money. Basically, if you lead a life and you’re
an able-bodied person and you’re not riding a bike, there’s something wrong in your
life and you got to fix that. It’s funny because it sounds so shallow,
but it’s actually pretty deep. Basically, if you can get to enjoy riding
a bike all the time, then you’re probably on the right path to leading a happy and financially
independent life. Mad Fientist: That’s great. Thanks a lot Mr. Money Mustache. It’s been an awesome interview and I really
appreciate you taking the time. Anybody out there that wants to learn more
then go to mrmoneymustache.com. Is there anywhere else they can email you
from there if they wanted to get in touch? Mr. Money Mustache: Yeah. Everything you need is there on the site. Yeah, I hope to see some of your readers hanging
out there, and I’ll be checking out Mad Fientist as the site grows, too. Mad Fientist: Excellent. Thanks again. Mr. Money Mustache: All right, bye-bye. Mad Fientist: That’s the end of the first
Mad Fientist Financial Independence Podcast. I hope you enjoyed the discussion with Mr.
Money Mustache as much as I did. If you’ve not checked out his site yet,
you should really head over there now and take a look. He recently launched a forum that is very
active with great discussion about all things related to financial independence. All the articles he writes are top-notch so
you should definitely check it out. That’s it for now. Thanks for listening and I’ll see you next
time. Outro: E=MC Fience

35 thoughts on “Mr. Money Mustache Interview – Early Retirement Made Easy

  • I'm 23, got my first job, saving about 65% of my salary and hope to keep this savings rate and increase it over the years!

  • Mr money mustache im 30 have close to 150k in savings plus another 20k odd in investment waiting on a house to sell i also make around 2k a month in investment i want to retire when im 35 need advice on investment no experience in stocks or anything else

  • In a post titled "How About that Stock Market!?", MMM links to a great stock series written by my friend Jim Collins. Jim's series is a great place to start if you're interested in investing in the stock market.

  • My goal is to retire at 40. Only 21 right now but I just bought a $500,000 house with a 10% down. Still putting $500/month away besides my mortgage as well. I have everything planned out and it feels great!

  • I wouldn't classify this guy as 'retired'…he just doesn't work in the corporate world anymore. He's self employed and has some properties he manages (owns) and is a landlord. Being self-employed obviously you can set your own hours, however, some people like me enjoy going to the office with structured hours (if you like what you do, which i do).   Not everyone wants to be a landlord. I'll pass up on the 10% return from a rental property for a 6-7% return from dividends.  I hear about how rental properties are nothing but headaches from the people i know that have them. If he does make nice passive income from his blog, great, but that is just another thing to manage and is a job in itself.

  • We've been saving since 2007. Started with a negative net worth of -$3K and now have a net worth of $300K. I'll be 40 next month, so I'm no spring chicken. My wife, however, is only 30.

  • https://youtu.be/wm8PyFovIy4 – Liked the video and how you are trying to help people prepare for retirement – I've seen many having to keep working to make ends meet after retirement and am concerned about how tough it is for them out there. Congrats on your success in reaching so many people in this regard.

  • I've never been much of spender but not a very consistent saver, either. There is a chasm of difference between being OK with money like I am and being consistently active yet still conservative in your approach. I quite like working but would love to be free of it in my 50s.

  • Its very easy to retire early !!!! I did !!!!! I quit high school my freshman year when I was 15, and I went to work !!!! I retired at 39 !!!!!

  • I feel like all these methods are based on above average earnings ? I don't earn much as a mature student (around 900 – 1000 GBP p/m) and only able to save between 300 – 500 p/m consistently . Please correct me if i'm wrong but with the above figures it's impossible to retire

  • Real estate is fine if you can keep your head when the market crashes. Same with the stock market except it's much easier to sell stocks. REITs sound like a good compromise.

  • Targeting financially independent by 45 myself. Since reading the MMM blog I realised it's really just about buying as little crap as possible and saving as much as possible.

  • So great to go back to the beginning of your podcasts and here how it all started. MMM (Pete) is so right with his comment about focusing on one thing at a time. How compelling this would be for all 17 and 18 year old people to hear — that you can go into the workforce for 8 to 15 years and focus on excelling at your job and saving at a high rate. After becoming FI, then have child(ren) if so desired and focus on them. This would solve so many societal problems if adopted in mass.

  • But how can you accumulate enough investments by the age of 30 to retire? You'd have to have a big money job and put away a lot of that money very fast….that's a unique situation that very few are able to achieve. '

  • How did he do this journey? He cut way back on expenses by having roomates and not owning vehicles! Him and his wife had one cheap car between them and at one time his used little car valued at only $6,000. Saved and saved money. Lived way below his wages. Rides a bicycle. Being content with less. Basic home. Make own coffee. No Starbucks. No spending. Wife on same page as his money values. Ignored keeping up with "the Jones" next door.

  • I did retire at 53 but could have retired about 20 years earlier. One thing that is a benefit of being frugal and not acquisition obsessed is…just that. Not buying and having shit is a blessing. It makes my life simpler, I don't worry about 'stuff.' I have plenty of wealth that I probably won't spend but if I or someone I love needs it, I'm good to go.

    Another nice aspect? This approach to retirement means you are actively taking responsibility for your future, your life. Trust me, many, many people do not. I am frustrated to see people who say they cannot retire at 65 and it seems to be someone else's fault but they had a lifetime to address it and did not.

  • I am really excited about it. I am on a journey to pay my final debt 80.000 since 2015 and i am on my final 14 .669. Expect to Finish paying in July 2019. Then i will be able to invest 60 – 70% of my income. Can´t wait. These audios really help to keep my journey. Thank you guys!

  • Currently working over seas in a great paying job, 27 years old have 67k in investments and one rental property. I am able to put around 10k a month (for 9 or 10 months of the year) into investing, my goal is to retire by 33.

  • Minor technical point. The goal shouldn't be to retire early but to have enough money to do exactly what you are good at or want to do. If you want to work on research related life saving technologies that benefit all humanity do that. If you want to write poetry or study Renaissance painting do that. Society will benefit as a result.

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