Currently working overseas but will return to my home country in the near future. I'm a landlord. I invested in property at the age of 22. Value has soared and renting out. Will live on the rental income I receive and live with my aging parents for the time being. At 60 I can withdrawal from my superannuation (401(k)). Have savings and eligible for the Australian pension at 63. In the future I may downsize, sell the property and buy cheaper property and add the left over money from the sale to savings. Lots of options for me. The way I see it if you have $1m at some point, that’d be enough to create a portfolio that would pay you between 50k-70k in dividend income...
It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into investment advisors for a strategy that suits your timing in this time of wealth transfer.
@@devereauxjnr I totally agree, I'm 60 and just retired with about 1.2 million in outside retirement funds, no debt and very small dollars in retirement funds compared to my balance of portfolio over the past 3 years to date. tbh, the role of the invt-advisor can only be overlooked, not denied. just do your research to find a reputable one.
Nice video content! Forgive me for chiming in, I would appreciate your opinion. Have you tried - Renannah Tiyily Release (just google it)? It is a smashing exclusive guide for learning how to get the ultimate millionaire mind minus the normal expense. Ive heard some awesome things about it and my mate at last got amazing results with it.
This guy has completely changed my life. Money is piling up and the fat is coming off. I ride my bike all over town, pulling a bike trailer filled with tools, lawn mower, groceries, etc. Next step is to eliminate the commute.
My wife and I average 7k a month net....our total expenses (bills, morrgage gas, spending, fun money, misc, groceries) equals just under 2.9k a month. Currently we are using the 4.1k a month to pay down the mortgage. We will be debt free 110% by dec 2020. This was only possible due to people like you guys, dave ramsey etc. We started out jan 2018 with 267k of debt....and by jan 2021 we will have 0 only making 100-120k a year gross.... This stuff is totally possible. But people need to just get on a written budget (we use everydollar app) and get frickin intentional with their money. We are 26 and 27 and we want to retire by 50 extremely comfortable and i think its possible now...
I heard MMM months ago. I was 48. On my 49th birthday, i joined the cult, so to speak. I started saving 50% of my income. It's awesome to have money. I was check to check my whole life. I now look forward to FI in less than 10 years! At first i thought, WHY didn't i find him 10 or 20 years ago. I WISH!!!!!! But now i thank God i became a mustachiane when i did. I see A LOT of retirees that are so broke. All ages really. I see them living BEYOND their means. I did that my WHOLE life! Thanks for the inspiration MMM! ♡
Alma Aparicio Thank you for sharing your story! I’m 42 and was feeling regret for not doing this until now. Your post inspired me to feel good about getting started now, and sticking to this!
“If you can get yourself financially independent, not only does it give you the power to eliminate most of the bullshit in your life, but it forces your life’s work to become more truthful. Now this shit really matters. Because in the world today, there are people who grind away like little gears until they die. And there are people who do pretty well for themselves, but leave nothing but a trail of conspicuous consumption - empty champagne bottles; depreciated luxury cars; yachts; vacation homes. Then there are people who leave a lasting difference. There’s a classic Greek proverb which goes something like, “A society grows great only when the old people plant trees, even when they know that they won’t be around to enjoy the shade of those trees.” And that’s why the title of this talk ends with “…And Save The World”. Because if you can get yourself free from the need for money, you have no choice but to do work that is better for you, and better for the world. I mean, sure, people will like you more, and you’ll be richer and happier, but if you’re doing it for love and not money, you have no choice but to do a better job.” - From MMM's TED-like talk at WDS 2016
I moved from former Soviet Union country and spending back there is 500$ a month that’s enough for everything so when I came US I thought why everybody staying here and working their ass off , so decided if I will work in US for a 5 years and save everything I can I could live 30 years without worries back in my country (life hack) I bought 4 apartments in 2 years working 2 Jobs now every apartment brings me 100$ monthly yeah it’s funny cheap for US but 500$ back there equally to 4500 spending in United States and we got organic food ))) so another 2 -3 years to layback and do what I love (I am 25)
You'll live like a king if you have $800k and live in the Phils. His $32k passive income is my annual income in the Phils, working 60-70hr per week. My target passive income is $12k per year.
I really need to make new friends. My current circle are underachievers, and its disappointing. I want to be surrounded by sharks. Not guppies. Thanks for this reminder - I needed it.
My god, it's such a relief hearing him say that he's never done thr budget thing. I'm the same way, but listening to the Dave Ramsey Show and almost every single person that has done the "debt free scream" has said that they couldn't have done without budgeting themselves. Then they go on to explain how they assign every single dollar before they spend it, it just sounds a bit ridiculous to me. I even downloaded the EveryDollar app and couldn't get past the assigning every last dollar part, so I never used it after that. I'm not saying a budget is complicated or people should be able to go without budgeting, it's just some of us are wired differently. I thought something was wrong with me for not adhering to the budget, because almost every podcast about personal finance I've heard has mentioned at some point how budgeting is a very important step of the process. For my wife and myself, it's just very easy to say "no" when thinking about buying useless shit. I'm glad I heard it from MMM.
galloe Budgeting is very hard. It is very useful if you want to save 60% or 70%. For past three years I did pay yourself first which helped me to save 40%. But now I want to save 60%, and it needs some serious budgeting. Sticking with the budget will take time and few ups and downs. Forgive yourself and keep on track.
All good stuff, except for the idea of telling people what you're doing and seeing them follow: I ride my bike 21000km/year right through the winter in Norway, and surprisingly there's no orderly queue following of people desperate to join me! I just accept that I'm very different.
That's awesome! Most of us are just snapping out of convenience coma that we've been trapped in most of our adult lives. MMM is like Morpheus from the Matrix.
So true. I have shared videos with friends, family and NO ONE has joined the cult. MMM really inspires me. I was an idiot with my money my whole life! I started NOT spending and saving half my income on my last birthday. My first year will be saving HALF my income, and before my 2nd year begins i am increasing my savings to 60%! I love all the creative ways i have so much fun and spend ZERO! ;) It does make me sad that those closer to me are NOT willing to be frugal. They do not want to change. I have come to grips with REALITY. Most people DO NOT want to sacrifice today for further tomorrows. Basically, their future finances will suck. But i cannot be rude. They will change when they are ready.
Well, this was useful to find this MMM at 18. Although I don't care about trends, I still have a lot of things I spend my money on that provides little benefit.
Good morning! Great blog! From a Canadian perspective, indeed the debt level is very high...but, the spending is much less, as we have to pay for income taxes, and live with what is left...so for me, at or around 50% income tax, let me tell you that saving is very important, and possible only if I lower my spending, which I did, in order to retire early, which I plan to do! Thank you for this blog. I am happy to ear I am not the only one saving like crazy! Ouf!
I think the like/dislike ration isn't particularly fair. There's much to what's being said, this laid back style actually fits my way of doing things too as I know my maths and budgeting everything out feels just too suffocating. Great content that you.
Absolutely x 1 trillion! I was debt free 3 years ago... Met a woman, moved into a upmarket neighbourhood, got married, got divorced, wasted three years of my life, set back by $200k and will be debt free in hopefully 4 years... 7 years wasted, because of my wrong choice in a narcissistic manipulative b!tch to bang
but it in a 10 year focus. If you just buy one cheap house a year then in 10 years $700 month rental income x 10 properties is 7000 a month. Or could start with a MFH live in there and rent out the other units for a few years. I see many in the southeast buy 50k houses and take 20 years to pay them off but get a 50k expensive car and pay off in 7 years.. its all about choices.
but MMM is in a much better state than all of us because he knows how to do home renovations...when things in your mortgage-free home break down or you need renos it's expensive and it seems like every year there is something that needs fixing or you need to buy something new that broke down... Honestly, living in a warmer climate is much easier to save. Living here in Canada in a town that is close to the GTA where home prices are skyrocket high...even with no mortgage...I find it difficult to do this but I'm trying... First thing is to convince the family to cut the satellite tv... Food is a huge expense here if you buy organic...so buying frozen at Costco is much cheaper. But here's another reason why MMM was able to do this more successfully...he and his wife MOVED far away from family and friends in Canada to the USA...therefore no gifts to buy them and no family social get togethers which is super expensive when feeding extended family... So although his advice is great, it's very unrealistic for most of us...
Quit making excuses and see what you can do instead of what you can't. If you really want it, of course. He retired at 30, wich is unrealistic for many. But retiring at 50 is still much earlier than most people do and very doable for most (that start young).
Nice mandela effect reference 3 minutes into the broadcast. In this timeline/reality/universe, the monopoly man DOES NOT have a monocle, he has NEVER had one in this timeline/reality/universe. I know this has nothing to do with the show, sorry about that, but I feel impelled to always point out a Mandela effect when I see one
Nice! I like paying myself first - I love, and hapilly spend on travel, but to see my savings grow consistently gives peace of mind, options for future, and is way better!!! than buying the latest 'stuff' now. Scared of investing though (fear of market crash etc...).
Curious, are these not the same as your podcasts? i listen every monday but don't remember this one or see it in the feed during april? or are these separate from whats posted on the podcast every monday? love your stuff just curious
Recently discovered you Mr. Mustach and loving the vlogs!! please can you clarify - add up your early expenses and multiply by 25 = this is total $ what you'll need to retire? And, if I want to start withdrawing 4% say starting at age 40 (instead of age 62), isn't there capital gains and federal/state tax penalties? Or, would one need to wait until traditional retirement age to start withdrawing from Vanguard index fund? I would appreciate your thoughts on the process...
Yeah but do you drive a Jeep getting 19mpg that will die at 200k or a golf TDI getting 40mpg that will last 400k? It's not about elimination, it's about optimization.
ok, you guys do realize MMM is NOT retired? Right? His claimed income is independent of his business of selling "early retirement". He pulls in several hundred thousand dollars a year but isolates it from his claimed personal income. His job demands time and travel. His principles and suggestions are sound; however, this guy is working more hours in a week selling and preaching "frugal living" than he did in his corporate life. Continue to listen to him. His lifestyle is great. Just be aware that without his continuous work and drive to keep his brand, MMM, in business, he would not be able to do the things he's doing...
I really love DR, but I disagree with him on this point (and his antiquated view on student loans). Most MFs don't do the 12-18% that Dave advertises, they actually do less than the overall market. Knowing this, I'd put the money in ETFs instead, since they do tend to follow market trends.
@@Gross_Gaming27, except his admitted to carrying debt in this recording. I don't think he realized as it was about automated payments to his creditors. That is a concern. I not sure i believe him now.
@@LilStoops he just said that he Auto pays his credit cards that doesn't mean he carries debt.. I do the same thing and you reek Rewards I get 2% back on every thing I buy and 3 % on groceries.. I haven't touched physical money in over five years other than paying rent every month ( saving up to get a house in cash as I write this)
Early retirement tip. Use a strainer to collect food before using soap when washing dishes. The scrap collected I realized equals like 5 days of food monthly. Or one day weekly. That's like 20 or 30 bucks. Keep in mind. When you enter early R. Definition for me not working again or coming out of retirement for Nothing. In that category your going to have to protect every penny.
Diversity your money in crypto, vanguard and 401k(if your company matches alot) and eventually real estate! I wish I could ride a bike too, but Texas weather is shit, its either too hot or too cold.
Software engineer is not something everyone can do. Computer science is not easy. Accumulating $800k in 9 years after taxes is extraordinarily difficult. The lowest amount I ever lived on was $13k living in a friends office room of their trailer eating beans. Average college degree salary is $50k, so after taxes and expenses = $23k yr you could invest. Assuming no lifestyle changes or unexpected expenses, it would take an average couple (2 earners) over 17 years of the leanest living to pull this off. Even just a car purchase or larger dwelling would easily push that to 25 years. So retiring at 40 would be the earliest for most. Considering inflation, $1.2 million is needed to do this now. I’d say you need 5-10 more years. It’s just not realistic for most. This program is intended for intelligent, hard working people who could really contribute to society by working a lifetime, but instead opt to not contribute and let the dumber people struggle. I can’t wait to have physicians who have an IQ of 90. This guy is paving the way for an Idiocracy (please watch this film, it’s a hilarious and scary vision of the future).
J D people that are motivated and intelligent enough to pull this off aren’t gonna just sit and stop contributing to society. The idea is to be free from “having” to work. So you can contribute where ever you want from one day to the next.
I mean...he's explicitly talked about how income obviously pays a huge part of this. And with most people being broke, those people making 50k and able to save "just" 10 would put them comfortably retiring.
you think living in USA is cheaper than in Europe jajajjajajajja, at least do some reasearch instead of what someone "told" you... in USA they scam you in every single purchase!
haha, u remember the monopoly guy having a monocle as well! GO CHECK... HE AIN'T GOT ONE ANYMORE!!! It's called the mandela effect. we are living in weird times. parallel universes...
@@amypendergrass6461 if you do the google search, the images you see of him with a monocle are articles about people who were wrong that he had a monocle! They've added it to the photo to show what they remember. It's funny how many of us have that false memory.
Recently discovered you Mr. Mustach and loving the vlogs!! please can you clarify - add up your early expenses and multiply by 25 = this is total $ what you'll need to retire? And, if I want to start withdrawing 4% say starting at age 40 (instead of age 62), isn't there capital gains and federal/state tax penalties? Or, would one need to wait until traditional retirement age to start withdrawing from Vanguard index fund? I would appreciate your thoughts on the process...
![DR 007: How to Retire at Age 30 [with Mr. Money Mustache]](http://i.ytimg.com/vi/dYKqrz2bD_U/mqdefault.jpg)
![DR 007: How to Retire at Age 30 [with Mr. Money Mustache]](/img/tr.png)
Currently working overseas but will return to my home country in the near future. I'm a landlord. I invested in property at the age of 22. Value has soared and renting out. Will live on the rental income I receive and live with my aging parents for the time being. At 60 I can withdrawal from my superannuation (401(k)). Have savings and eligible for the Australian pension at 63. In the future I may downsize, sell the property and buy cheaper property and add the left over money from the sale to savings. Lots of options for me. The way I see it if you have $1m at some point, that’d be enough to create a portfolio that would pay you between 50k-70k in dividend income...
It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into investment advisors for a strategy that suits your timing in this time of wealth transfer.
@@devereauxjnr I totally agree, I'm 60 and just retired with about 1.2 million in outside retirement funds, no debt and very small dollars in retirement funds compared to my balance of portfolio over the past 3 years to date. tbh, the role of the invt-advisor can only be overlooked, not denied. just do your research to find a reputable one.
@@2024Red-j5t This is exactly what I want to do now too. Can I get access to your coach?
@@Petroguest-i4g credits to NICOLE DESIREE SIMON, one of the best portfolio manager;s out there. she;s well known, you should look her up
@@2024Red-j5t I just checked her out and I have sent her an email. I hope she gets back to me soon.
"Retirement is not the end of work. Retirement is the end of mandatory work" so well said Mr. Mustache.
Nice video content! Forgive me for chiming in, I would appreciate your opinion. Have you tried - Renannah Tiyily Release (just google it)? It is a smashing exclusive guide for learning how to get the ultimate millionaire mind minus the normal expense. Ive heard some awesome things about it and my mate at last got amazing results with it.
This guy has completely changed my life. Money is piling up and the fat is coming off. I ride my bike all over town, pulling a bike trailer filled with tools, lawn mower, groceries, etc. Next step is to eliminate the commute.
That's great Andrew !!
What about when it rains?
@@henrysunga You get wet
@@henrysunga Rainy day fund.😉
✔If you haven't already started, Start Now!
“Money is not for buying stuff. Money is for freedom.”
My wife and I average 7k a month net....our total expenses (bills, morrgage gas, spending, fun money, misc, groceries) equals just under 2.9k a month. Currently we are using the 4.1k a month to pay down the mortgage. We will be debt free 110% by dec 2020. This was only possible due to people like you guys, dave ramsey etc.
We started out jan 2018 with 267k of debt....and by jan 2021 we will have 0 only making 100-120k a year gross....
This stuff is totally possible. But people need to just get on a written budget (we use everydollar app) and get frickin intentional with their money.
We are 26 and 27 and we want to retire by 50 extremely comfortable and i think its possible now...
It is now December 2020. Did you achieve your goal? If so, Congrats!!!!
Is the 267K a typo? (Maybe you meant 167k?) Otherwise I cant figure how you're paying down that amount in three years while only saving ~50K a year.
i wish i can go back 10 years and know this. if be retired now at 39.
tone D Make it happen when you are 49
I heard MMM months ago. I was 48. On my 49th birthday, i joined the cult, so to speak. I started saving 50% of my income. It's awesome to have money. I was check to check my whole life. I now look forward to FI in less than 10 years! At first i thought, WHY didn't i find him 10 or 20 years ago. I WISH!!!!!! But now i thank God i became a mustachiane when i did. I see A LOT of retirees that are so broke. All ages really. I see them living BEYOND their means. I did that my WHOLE life! Thanks for the inspiration MMM! ♡
Alma Aparicio Thank you for sharing your story! I’m 42 and was feeling regret for not doing this until now. Your post inspired me to feel good about getting started now, and sticking to this!
me too
I just turned 50 and the information is still valuable. I knew a lot of this stuff before but he puts it together really well.
“If you can get yourself financially independent, not only does it give you the power to eliminate most of the bullshit in your life, but it forces your life’s work to become more truthful. Now this shit really matters. Because in the world today, there are people who grind away like little gears until they die. And there are people who do pretty well for themselves, but leave nothing but a trail of conspicuous consumption - empty champagne bottles; depreciated luxury cars; yachts; vacation homes.
Then there are people who leave a lasting difference. There’s a classic Greek proverb which goes something like, “A society grows great only when the old people plant trees, even when they know that they won’t be around to enjoy the shade of those trees.” And that’s why the title of this talk ends with “…And Save The World”. Because if you can get yourself free from the need for money, you have no choice but to do work that is better for you, and better for the world. I mean, sure, people will like you more, and you’ll be richer and happier, but if you’re doing it for love and not money, you have no choice but to do a better job.”
- From MMM's TED-like talk at WDS 2016
This guy changed my life in so many ways. I cut my spending so much! :)
me too
I moved from former Soviet Union country and spending back there is 500$ a month that’s enough for everything so when I came US I thought why everybody staying here and working their ass off , so decided if I will work in US for a 5 years and save everything I can I could live 30 years without worries back in my country (life hack) I bought 4 apartments in 2 years working 2 Jobs now every apartment brings me 100$ monthly yeah it’s funny cheap for US but 500$ back there equally to 4500 spending in United States and we got organic food ))) so another 2 -3 years to layback and do what I love (I am 25)
very smart, I'd do the same if I wasnt so attached to my family and friends here in Canada lol
That’s smart USA is too expensive
I subbed because of MMM...he is a great guest to have on a money show. His views help people achieve their goals in life.
This is as relevant as if it was broadcast yesterday...great stuff.
You'll live like a king if you have $800k and live in the Phils. His $32k passive income is my annual income in the Phils, working 60-70hr per week. My target passive income is $12k per year.
If your friends wants you to do unproductive or hurtful things, then it's time to find new friends.
I really need to make new friends. My current circle are underachievers, and its disappointing. I want to be surrounded by sharks. Not guppies. Thanks for this reminder - I needed it.
My god, it's such a relief hearing him say that he's never done thr budget thing. I'm the same way, but listening to the Dave Ramsey Show and almost every single person that has done the "debt free scream" has said that they couldn't have done without budgeting themselves. Then they go on to explain how they assign every single dollar before they spend it, it just sounds a bit ridiculous to me. I even downloaded the EveryDollar app and couldn't get past the assigning every last dollar part, so I never used it after that.
I'm not saying a budget is complicated or people should be able to go without budgeting, it's just some of us are wired differently. I thought something was wrong with me for not adhering to the budget, because almost every podcast about personal finance I've heard has mentioned at some point how budgeting is a very important step of the process. For my wife and myself, it's just very easy to say "no" when thinking about buying useless shit. I'm glad I heard it from MMM.
galloe
Budgeting is very hard.
It is very useful if you want to save 60% or 70%.
For past three years I did pay yourself first which helped me to save 40%.
But now I want to save 60%, and it needs some serious budgeting.
Sticking with the budget will take time and few ups and downs.
Forgive yourself and keep on track.
All good stuff, except for the idea of telling people what you're doing and seeing them follow: I ride my bike 21000km/year right through the winter in Norway, and surprisingly there's no orderly queue following of people desperate to join me! I just accept that I'm very different.
That's awesome! Most of us are just snapping out of convenience coma that we've been trapped in most of our adult lives. MMM is like Morpheus from the Matrix.
So true. I have shared videos with friends, family and NO ONE has joined the cult. MMM really inspires me. I was an idiot with my money my whole life! I started NOT spending and saving half my income on my last birthday. My first year will be saving HALF my income, and before my 2nd year begins i am increasing my savings to 60%! I love all the creative ways i have so much fun and spend ZERO! ;) It does make me sad that those closer to me are NOT willing to be frugal. They do not want to change. I have come to grips with REALITY. Most people DO NOT want to sacrifice today for further tomorrows. Basically, their future finances will suck. But i cannot be rude. They will change when they are ready.
Love his humility, so many people w money are arrogant.
He didn't sound too humble at the 39 min mark. He shared his views on how to be the boss of his friends
Thank you for this interview. I am always looking for new inspiration when it comes to living below my means.
My student loan was the worst decision of my life.
mine too
You'd be poorer without an education
@@joaom.4944 you can get a richer education outside of school that costs less too. Trust me, I have 3 degrees lol
Well, this was useful to find this MMM at 18. Although I don't care about trends, I still have a lot of things I spend my money on that provides little benefit.
Glad to see the LMM crew making it to TH-cam. Keep it up guys!
Thank man! Ever so slowly trying to take over the internet ;)
Good morning! Great blog! From a Canadian perspective, indeed the debt level is very high...but, the spending is much less, as we have to pay for income taxes, and live with what is left...so for me, at or around 50% income tax, let me tell you that saving is very important, and possible only if I lower my spending, which I did, in order to retire early, which I plan to do! Thank you for this blog. I am happy to ear I am not the only one saving like crazy! Ouf!
I retired last year at 42. Somedays i am sad and some days i am happy
I think the like/dislike ration isn't particularly fair. There's much to what's being said, this laid back style actually fits my way of doing things too as I know my maths and budgeting everything out feels just too suffocating.
Great content that you.
Step 1: Find a Girlfriend (now wife) that is "on board with the program".
Absolutely x 1 trillion! I was debt free 3 years ago... Met a woman, moved into a upmarket neighbourhood, got married, got divorced, wasted three years of my life, set back by $200k and will be debt free in hopefully 4 years... 7 years wasted, because of my wrong choice in a narcissistic manipulative
b!tch to bang
Chris Thank you for telling me that I won’t make the same mistake because of you. Seriously thank you so much :)
Prenup
@@kylecouture1917 prenup is a waste of time. They get tossed out in court. MGTOW
Mr.MM got divorced late last year. AWALT. Don't fucking do it.
but it in a 10 year focus. If you just buy one cheap house a year then in 10 years $700 month rental income x 10 properties is 7000 a month. Or could start with a MFH live in there and rent out the other units for a few years. I see many in the southeast buy 50k houses and take 20 years to pay them off but get a 50k expensive car and pay off in 7 years.. its all about choices.
Amazing philosophy. Have to say, 800k is a LOT for the average peasant like me. Still some great lessons to learn
Great interview! Enjoy learning and MMM. Seems like there is more to life than a 9 to 5 grind building someone else's company.
Yeah it's called 9 to 5 building your own company. :D
If you want to be happy , do something for someone else without expecting something back
Fantastic, great to hear someone thinking differently.
Are you allowed to withdraw your money from a vanguard index fund?
I'd like to save up 1 mil in one and retire to Thailand or Vietnam on 3% draw.
Vanguard doesn't care, only the tax man.
Nick Oloteo - Investing of course. You sell and incur capital gains. Or you can live off the dividends on not reinvest them.
Anyone else watching this in 2020?
MMM is bada$$! 🤘
but MMM is in a much better state than all of us because he knows how to do home renovations...when things in your mortgage-free home break down or you need renos it's expensive and it seems like every year there is something that needs fixing or you need to buy something new that broke down... Honestly, living in a warmer climate is much easier to save. Living here in Canada in a town that is close to the GTA where home prices are skyrocket high...even with no mortgage...I find it difficult to do this but I'm trying... First thing is to convince the family to cut the satellite tv... Food is a huge expense here if you buy organic...so buying frozen at Costco is much cheaper. But here's another reason why MMM was able to do this more successfully...he and his wife MOVED far away from family and friends in Canada to the USA...therefore no gifts to buy them and no family social get togethers which is super expensive when feeding extended family... So although his advice is great, it's very unrealistic for most of us...
Quit making excuses and see what you can do instead of what you can't. If you really want it, of course. He retired at 30, wich is unrealistic for many. But retiring at 50 is still much earlier than most people do and very doable for most (that start young).
great interview. love philosophy of the stache. keep bringing in guests like this one.
Nice mandela effect reference 3 minutes into the broadcast. In this timeline/reality/universe, the monopoly man DOES NOT have a monocle, he has NEVER had one in this timeline/reality/universe. I know this has nothing to do with the show, sorry about that, but I feel impelled to always point out a Mandela effect when I see one
He did in the video games, which were published by Hasbro. So there you go.
Was literally thinking the same thing.
I love a good mandela effect spotting
Lay off the dope dude Mandela effect is ridiculous
Our mind subconsciously creates many falsehoods.
He had 800k liquid or 800k in liquid and investments? 800k was his total net worth?
Aloha State of Mind I guess its total. It makes sence. Like small house 300k, investment 500k * 4% = 20k/year
Woa, used to listen to this podcast like 4 years ago walking around a park. Has Matt returned to the show or is this just really old?
Hey there- No Matt hasn't returned to the show. Just working on posting up all of our podcasts to TH-cam!
Nice! I like paying myself first - I love, and hapilly spend on travel, but to see my savings grow consistently gives peace of mind, options for future, and is way better!!! than buying the latest 'stuff' now. Scared of investing though (fear of market crash etc...).
You should read The Simple Path to Wealth by Collins. Good book and will take the fear of investing away.
I wish I knew this at 21
Texas vs. Colorado? Which is best for affordability and great lifestyle
mj galante CO for lifestyle. TX for affordability.
Very inspiring
Curious, are these not the same as your podcasts? i listen every monday but don't remember this one or see it in the feed during april? or are these separate from whats posted on the podcast every monday? love your stuff just curious
nick jamesc it's old. See comment above
This is all amazing
It be interesting to see how he manages now that he has the kid
his kid is like 11 years old, he had the child after he retired so hes doing great
Plus his blog brings in like 400k/year
Something isn't right. He carries debt (credit card and rental property) likes luxury houses and never discussed inflation.
LilStoops he probably did that well after hitting a huge net worth
@@LilStoops have you seen his house? He said it cost less than lik 200k in Boulder. And he definitely doesn't carry credit cards month to month
Recently discovered you Mr. Mustach and loving the vlogs!! please can you clarify - add up your early expenses and multiply by 25 = this is total $ what you'll need to retire? And, if I
want to start withdrawing 4% say starting at age 40 (instead of age 62),
isn't there capital gains and federal/state tax penalties? Or, would one need to wait until traditional retirement age to start withdrawing from Vanguard index fund? I would appreciate your thoughts on the process...
Wait a minute, I have 800k just like when he retired, and I'm 35. Maybe I can retire!?
I am proud to proclaim myself a total cheap skate! Spending money KILLS me!!
Sadly as a rural mail carrier I am required to bring my car to work and drive it all day ...🤷♀️
Yeah but do you drive a Jeep getting 19mpg that will die at 200k or a golf TDI getting 40mpg that will last 400k? It's not about elimination, it's about optimization.
ok, you guys do realize MMM is NOT retired? Right? His claimed income is independent of his business of selling "early retirement". He pulls in several hundred thousand dollars a year but isolates it from his claimed personal income. His job demands time and travel. His principles and suggestions are sound; however, this guy is working more hours in a week selling and preaching "frugal living" than he did in his corporate life. Continue to listen to him. His lifestyle is great. Just be aware that without his continuous work and drive to keep his brand, MMM, in business, he would not be able to do the things he's doing...
Sooooo true; lots of pple misunderstand his movement.
The video animation is annoying.
Aaron ___ I like it
How do you guys American think about Dave Ramsey Mutual Fund investing advice?
I really love DR, but I disagree with him on this point (and his antiquated view on student loans). Most MFs don't do the 12-18% that Dave advertises, they actually do less than the overall market. Knowing this, I'd put the money in ETFs instead, since they do tend to follow market trends.
Do index funds instead
Dave personally profits from the people who buy his recommended profits.
Can someone kinda give me a simplified understanding of this im only 20 yr old
Nasty The villin - live on as little as possible. Save and invest as much as possible. Don’t finance anything.
@@Gross_Gaming27, except his admitted to carrying debt in this recording. I don't think he realized as it was about automated payments to his creditors. That is a concern. I not sure i believe him now.
@@jackcapone4375 may i ask what you invest in ?
@@LilStoops he just said that he Auto pays his credit cards that doesn't mean he carries debt..
I do the same thing and you reek Rewards I get 2% back on every thing I buy and 3 % on groceries..
I haven't touched physical money in over five years other than paying rent every month ( saving up to get a house in cash as I write this)
@@nasirbarbee5940 index funds (s&p 500 your young soo mostly stocks with some diversification)
Early retirement tip. Use a strainer to collect food before using soap when washing dishes. The scrap collected I realized equals like 5 days of food monthly. Or one day weekly. That's like 20 or 30 bucks. Keep in mind. When you enter early R. Definition for me not working again or coming out of retirement for Nothing. In that category your going to have to protect every penny.
ray bon WTF 0_o
Your drug is potent
Diversity your money in crypto, vanguard and 401k(if your company matches alot) and eventually real estate!
I wish I could ride a bike too, but Texas weather is shit, its either too hot or too cold.
Your comment is very un-mustachian.
Crypto not doing well right now.
Amyn Guy I ride in Phoenix year round. Channel your inner badass.
Ride that bike bruh, travel expenses are a waste of money
this is not the universe that Neal Degrasse Tyson produced family guy.
THIS MR MONEY MUSTACHE IS MY GOD !!!! MY LORD !!!! I AM THE SAME AS HIM !!!!!
Susan Miller maybe you are his God.
Cool
This is what schools should be teaching. FACT. #MoneyMatters
this guy is mad woke
Software engineer is not something everyone can do. Computer science is not easy. Accumulating $800k in 9 years after taxes is extraordinarily difficult. The lowest amount I ever lived on was $13k living in a friends office room of their trailer eating beans. Average college degree salary is $50k, so after taxes and expenses = $23k yr you could invest. Assuming no lifestyle changes or unexpected expenses, it would take an average couple (2 earners) over 17 years of the leanest living to pull this off. Even just a car purchase or larger dwelling would easily push that to 25 years. So retiring at 40 would be the earliest for most. Considering inflation, $1.2 million is needed to do this now. I’d say you need 5-10 more years. It’s just not realistic for most. This program is intended for intelligent, hard working people who could really contribute to society by working a lifetime, but instead opt to not contribute and let the dumber people struggle. I can’t wait to have physicians who have an IQ of 90. This guy is paving the way for an Idiocracy (please watch this film, it’s a hilarious and scary vision of the future).
J D people that are motivated and intelligent enough to pull this off aren’t gonna just sit and stop contributing to society. The idea is to be free from “having” to work. So you can contribute where ever you want from one day to the next.
I mean...he's explicitly talked about how income obviously pays a huge part of this. And with most people being broke, those people making 50k and able to save "just" 10 would put them comfortably retiring.
озвучку зделать !
Health Insurance? Taxes? $ 800k won't pay for that at 4 percent
My yield is 8 percent aswell.
He goes thru his insurance on the blog where he laid it out. He used catastrophic insurance for years.
you think living in USA is cheaper than in Europe jajajjajajajja, at least do some reasearch instead of what someone "told" you... in USA they scam you in every single purchase!
Nice Job guys! MMM is my cult leader....
Accent Rankings
1) AUS
2) Canadian
563) NJ
564) PA
#justjokes :)
He lost me on the expensive mountain bikes
He'd say buy a very good one used probably
haha, u remember the monopoly guy having a monocle as well! GO CHECK... HE AIN'T GOT ONE ANYMORE!!!
It's called the mandela effect. we are living in weird times. parallel universes...
Mr monopoly man has never ever had monocle ;D your thinking of the peanut guy
I didn't see your comment, and you beat me by 2 days lol. Good catch though!
If you do a google image search, he’s been portrayed with a monocle numerous times.
@@amypendergrass6461 if you do the google search, the images you see of him with a monocle are articles about people who were wrong that he had a monocle! They've added it to the photo to show what they remember. It's funny how many of us have that false memory.
So, build up your wealth, invest it, so you can live as if you have almost nothing?
Loved the video except cussing.
Unless you have a ton of money you can't do what this guy did.
I'm taking my 401 k contribution
Back
You're taking it back? What do you mean?
What does this mean?
I think he means he's gonna stop contributing to his 401K and keep it to...save it I suppose?
русскую озчучку зделать !
Recently discovered you Mr. Mustach and loving the vlogs!! please can you clarify - add up your early expenses and multiply by 25 = this is total $ what you'll need to retire? And, if I
want to start withdrawing 4% say starting at age 40 (instead of age 62),
isn't there capital gains and federal/state tax penalties? Or, would one need to wait until traditional retirement age to start withdrawing from Vanguard index fund? I would appreciate your thoughts on the process...